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Numbers eventually just become a string of zeroes so when Biden proposes a $7.3 trillion budget, let’s get some perspective here.
Republicans used to talk about Obama’s insane runaway spending. Here’s Heritage objecting to the $3.5 trillion in federal spending in 2014.
Ten years later, we’re at $7.3 trillion.
President Biden unveiled his election-year budget pitch Monday, calling for $5.5 trillion in tax increases by raising rates on the wealthy and corporations — while spending $7.3 trillion on defense, federal benefit programs, affordable housing and student debt cancellation, among other proposals…
The Committee for a Responsible Federal Budget (CRFB) noted the Office of Management and Budget (OMB) estimates project the national debt would surge to $45.1 trillion — or 105.6% of Gross Domestic Product (GDP) — by 2034 under the plan, up from $27.4 trillion.
I have to admit that I underestimated Biden while writing, “A trillion here, a trillion there, pretty soon, you’re talking real money.”
Bill Clinton introduced us to the $2 trillion budget, Bush to the $3 trillion budget, Obama to the $4 trillion budget and then $6 trillion spending sprees became the norm. Biden’s last proposed budget was $6.8 trillion. Another term will inevitably take us to a $7 trillion dollar budget and beyond…
By the time the next election rolls around, a $34 trillion debt will turn into a $35 trillion debt.
Beyond indeed.
Tax hikes, apart from their disastrous effect, won’t fund this either. That’s another shell game no matter how Biden and his media lackeys claim that he’s “cutting the deficit”.
But let’s just pause for a moment to consider the escalation here, of how it took decades for $2 trillion to turn into $3 trillion and then $4 trillion, but we’ve doubled the budget to over $7 billion in a decade.
What’s next?
In effect, debasing the currency, which generally ends badly.
Inflation is also another way government steals from the middle classes. Most of the upper classes are economically literate enough to protect their assets, and the lower classes don’t have many assets to steal.
This simple question remains: If one was trying to destroy his country, would he do anything differently than what is currently being done?
The simple answer: Absolutely not.
All by design. All in the spirit of nihilism and–dare I say it–tre_son. And laughing (cackling?) all the way.
I want a tiny Federal Government that can be comprehended and monitored. The States are supposed to take care of 90% of what he Federal Government has coopted. Milei in Argentina is setting a fine example. The Federal Government is robbing the economy of the money it needs to function besides the overregulation.
There must be some government agencies that can be eliminated.
Sub headline says $7 billion instead of $7 trillion. Please correct.
Remember Cloward and Piven?
For a balance, the Trump era figures should have been included.