Tag: deficit

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Biden Pandemic Economy Just my own thoughts

Biden adds 600 billion to the deficit but claims he will lower it by 1.5 trillion.

January, February, and March saw the three highest months ever of deficit spending. Also Biden spending is over 600 billion n the red. Forget the fact that the Treasury is seeing record breaking revenue coming in. So why is Joe saying that he will cut the deficit by $1.5 trillion? Trump and congress had allocated over 2 trillion for the masks, gowns, ventilators, etc. Items that Obama-Biden never replenished. according to CNBC.

So those trillions are now gone. That’s why Joe’s asking for hundreds of billions more. For COVID, Ukraine, etc.

 

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Biden Pandemic Economy Opinion Politics

So President Trump added 7 trillion to the debt. The U.S. budget deficit is expected to reach $3 trillion again this year, according to the Congressional Budget Office, a 33% increase from its previous projection as it takes into account President Biden’s massive coronavirus stimulus plan.

WASHINGTON, D.C. – AUGUST 18: Joe Biden pauses as he delivers remarks on the COVID-19 response and the vaccination program in the East Room of the White House on August 18, 2021 in Washington, D.C. (Anna Moneymaker/Getty Images)

So President Trump added 7 trillion to the debt. The U.S. budget deficit is expected to reach $3 trillion  this year, according to the Congressional Budget Office, a 33% increase from its previous projection as it takes into account President Biden’s massive coronavirus stimulus plan. And that’s not counting the 5 trillion if Bidens two plans pass. But what about the Trump 7 trillion?

Fact Check.org a liberal fact checker says that Trump inherited almost 600 billion from Obama. And they say that 2.7 trillion were the tax cuts. That means over 3 trillion went to cover the COVID Pandemic.  Pandemic spending that almost every single Democrat voted for.

When Obama added almost 10 trillion, there was no outcry from the left. Why was that? The deficit for the first half of the budget year, from October through March, was up from $743.5 billion in the year-ago period, to 1.7 trillion this year the Treasury Department said in April.