Lies, Damned Lies, And Biden’s Budget – IOTW Report

Lies, Damned Lies, And Biden’s Budget

Issues and Insight: The first line in President Joe Biden’s budget statement, released Monday, is “Budgets are statements of values, and the budget I am releasing today sends a clear message.”

Biden’s right that his $5.8 trillion budget sends a clear message. The message is that he will say and do anything, no matter how disconnected from reality it is. The rest of his statement is itself full of lies and half-truths.

For example, Biden brags that he’s cut the deficit in half in his first year, making it “the largest one-year reduction in the deficit in U.S. history.” That’s technically true but completely irrelevant.

Deficits ballooned as a result of the pandemic shutdown and the – bipartisan – rescue legislation enacted under President Donald Trump. Biden forgets that he added trillions more to the pile with his “rescue plan” and the bloated infrastructure bill.

Plus, it’s Biden’s own budget that calls for deficits to remain well above $1 trillion – and climbing – over the next decade.

By 2032, Biden’s “fiscally responsible” budget pegs the deficit at $1.8 trillion, or 4.8% of GDP – and still growing. (The post-World War II average is 2.6%.)

That year, debt held by the public will top 106% of GDP.

In Trump’s last budget proposal – issued in early 2020 – he projected a deficit of $261 billion in 2030 and debt held by the public at 66% of GDP – and falling. more

7 Comments on Lies, Damned Lies, And Biden’s Budget

  1. A planned and determined effort to destroy America.
    And we sit with our thumbs up our asses awaiting Weimar II.
    When Chris Rock got bitch-slapped for an obscure joke he just stood there smiling
    – like we’re doing.
    I thought that maybe he was a pussy, but he’s just another American.

    mortem tyrannis
    izlamo delenda est …

    4

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