NICK GOSNELL
Hutch Post
HUTCHINSON, Kan. — Creighton University economist Ernie Goss is watching closely to try to figure out what the end of the debt ceiling process will be, but right now, no one knows.
"Come June, you're going to see some knees start to wobble," Goss said. "Something has got to be done. It's unacceptable for it to be getting that close to breaching that number, $31.4 trillion is now the debt limit. We've already moved beyond that. We just need the Congress and the President to move on this and move in a positive direction and do something about it. That may mean cutting spending, which I support, as well."
Where can they cut? Goss has a couple of ideas.
"Let me give you one item I think should be cut," Goss said. "That's the CHIPS Act. $280 billion going away, given to big corporations to support development of chips in the U.S. In my judgment, that's ill spent. That's not good spending. That should not have been done. It should be pulled back. That's $280 billion. Also, $113 billion to Ukraine to support continuing war in Russia, without a call for any sort of negotiations? I'm hoping for negotiations. I don't see any movement in that direction. I'm sure I'll get some disagreement on both of those items, but there you are talking about almost half a trillion dollars."
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