It is a fact of life that a big government, large-scale entitlement program like Social Security, Medicare, Medicaid, and the Children’s Health Insurance Program, or CHIP, is going to have to take a beating.
But, for the first time, it seems the American Conservative Party has taken the hit.
And it’s not just the Conservatives.
As The American Prospect reported last week, the debt the Republican Party has to pay for its entitlement programs has doubled to nearly $2 trillion since 2005.
It’s not the only party that has been forced to take the hit, either.
Since 2010, the U.S. has been spending nearly $1 trillion per year on government debt, which is almost double what it was during the Great Recession.
The federal debt has quadrupled in the past five years.
It reached $3.8 trillion in October.
Even in 2016, when Donald Trump won the presidency, the federal debt was only $1.6 trillion.
In 2017, it reached $2.3 trillion.
All of this is a direct result of Republican policies that have helped the wealthy and the powerful.
A look at the data reveals that the wealthy have gotten richer and more comfortable.
The richest 1 percent of Americans have seen their income rise by more than $400,000 since the 2008 economic crisis, according to the Tax Policy Center.
And as recently as 2020, the wealthiest 1 percent had a net worth of $14.5 trillion.
The wealthiest 1.5 percent of the U