Fellow Conservative,

After the implosion of Silicon Valley Bank, many Americans are concerned their own bank may be at risk, and they should be. But the D.C. swamp is trying to avoid talking about the root cause…because they don’t want anything to change in Washington.

As Heritage Action Executive Director Jessica Anderson wrote in the Daily Caller yesterday, “Congress killed Silicon Valley Bank.” Here’s how:

“Inflation and rising interest rates killed Silicon Valley Bank, slowly moving their balance sheet out of balance. Depositors became suspicious and withdrew their money…

“But inflation doesn’t just happen and interest rates didn’t raise themselves. This is all a direct result of the trillions and trillions in extra spending that Congress pumped into our economy.

“Silicon Valley Bank made a bad bet — perhaps an unforgivable bet. SVB bet that Congress would control its spending addiction. Most Americans wouldn’t make that bet, and so they are justifiably angry. Americans would do well to direct their anger at Congress in order to drive positive change.

>>>Read the full article HERE<<<

“In 2023, Congress must finally kick its addiction to spending. The national debt is now north of $31 trillion, nearly $250,000 per American taxpayer. Congress needs to cut spending and enact sensible reforms to help our economy recover.

"There is a real opportunity for change — Congress has run up against the debt ceiling, a crucial tool to protect Americans from uncontrolled spending in Washington. We must now use it to force Congress to make the right choices.

"The American people should not sign off on any debt limit increase unless Congress caps spending at fiscal year 2022 levels and institutes programmatic cuts, reforms and pro-growth policies that offset the increase in the debt ceiling.”

Under Joe Biden’s leadership, Congress has spent trillions of dollars to support WOKE ESG policies like the Green New Deal and Biden’s “Build Back Better.” This liberal spending drove up inflation, drove up interest rates, and ultimately destroyed Silicon Valley Bank (who made bad investments while focused on their woke agenda).

But here is the important thing—Biden’s failed economy is hurting all of us too! Woke ESG spending from Congress isn’t just hurting Woke ESG banks. It’s undermining all of America.

That’s why it is so important for America to get its fiscal house in order—a healthy and recovering economy is the only answer. This means Congress needs to control spending and stop driving up inflation.

And if you are like me, then you think government bailouts are a bad idea. They reward bad decisions and encourage other banks to act irresponsibly.

One of the most impactful ways the grassroots can stop bailouts is to call Congress and demand that they rein in spending. Runaway spending on Biden’s WOKE causes is the root cause; bailouts are band-aids—they don’t fix the problem! Congress needs to fix the problem.

The debate over the debt ceiling in 2023 is the perfect opportunity for the conservative grassroots to encourage Congress to finally make the right choices:

The U.S. debt ceiling is a powerful tool to protect the American people from Washington D.C.’s spending addiction. As Jessica wrote: “The American people should not sign off on any debt limit increase unless Congress caps spending at fiscal year 2022 levels and institutes programmatic cuts, reforms and pro-growth policies that offset the increase in the debt ceiling.”

Heritage Action has created an issue toolkit specifically to address the debt ceiling. This debt ceiling toolkit answers the questions:

• What is the issue at hand?
• Why should I care?
• Why is this a problem?
• What can be done?

It also provides additional resources such as expert sources, social media posts, graphics, and a call center for you to call your representative and senators.

>>>Call your Representative NOW and tell them you’ve had enough of the fallout from Congress’s bad spending habits on Biden’s failed WOKE policies. This will be a defining issue for the current Congress, and they need to hear from their constituents!

We expect this debate to unfold over the coming months, so please stay engaged and make sure your legislators continue to hear from you.

Thank you,

Janae Stracke
Vice President of Field Operations
Heritage Action for America