T he public’s top concern continues to be inflation and high prices. While the rate of inflation has declined, it remains elevated compared to the pre-pandemic norm and the Federal Reserve’s target.

Since inflation is cumulative, prices rising at a slower rate is of little comfort to those who still remember what prices were three to five years ago. Higher interest rates mean that the cost of a new home mortgage is now unaffordable for many. This is especially tough for young couples looking to start a family.

One would hope, under these circumstances, that federal policy-makers would try to douse the inflationary fire. Unfortunately, both Congress and the White House seem determined to pour fiscal gasoline on the open flames.

They’re continuing the unprecedented spending spree that started in March 2020 with the pandemic — which is one of the crucial factors behind this spike of inflation. Multiple rounds of poorly targeted “stimulus” packages, Green New Deal subsidies, corporate welfare schemes, over $700 billion of administrative spending hikes from the Biden administration . . . it all adds up. Interest on the debt is skyrocketing, with payments up 42 percent year-over-year as of May 2024 and taking up a larger portion of the budget than national defense.

According to the latest estimates, the federal government will add $22.5 trillion in public debt over the next decade. To put that in perspective, it took from 1789 to 2021 for the public debt to reach $22.5 trillion.

Both parties are still used to the pre-pandemic status quo of low-consequence deficit spending. Business as usual meant giving new handouts to special interests, bipartisan logrolling packages, and using various forms of the “emergency” spending to move trillions of dollars without budgetary constraints.

A sampling of administrative and legislative proposals in the federal pipeline shows that there is no self-correction in sight:

Such behavior is tolerated because the nation’s political and media elites view the expansion of federal programs and subsidies as normal. Members who often work across the aisle on deficit-increasing legislative packages are labeled “centrist” or “moderate.” In contrast, the small handful of fiscal hawks in Congress are regularly described as some version of “far-right.”

Yet the real extremists are elected officials who turn a blind eye to the gushing rivers of red ink that threaten to drown America’s prosperity. This continually irresponsible governance — no offsets to new spending, arcane gimmicks, willfully ignoring broken benefit programs — ought to be a raging scandal rather than a niche concern.

The last meaningful push for deficit reduction was a result of the grassroots Tea Party movement. Although those effects were sadly short-lived, it points to the ability of citizens to discipline the political class for its excesses.

A similar movement for smaller government and fiscal restraint is badly needed. Otherwise, it appears that nothing short of economic ruin will force Washington to change course.