I thought we had the inflation reduction act? U.S. Budget Deficit Explodes 23% Higher to $1.7 Trillion. Who can forget when Biden said he cut the deficit by 1.7 trillion? But all the fact checkers called that a falsehood because that was spending that expired from COVID.
Well the deficit went up another 320 billion. Grand total of 1.7 trillion. I thought we had a Deficit Reduction Act? “The U.S. economy remains resilient despite global headwinds,” Treasury Secretary Janet Yellen said. How funny is that?
While the consensus among economists no longer calls for a recession in the near term, a recent Wall Street Journal poll showed that the economy is expected to grow slightly less than one percent next year. The Conference Board said this week that it still expects the economy to fall into a “shallow recession” next year.