Posted on 06/18/2024 2:31:50 PM PDT by Kaiser8408a
So much for Biden’s bragging that “he” cut the US budget deficit by half. Actually, Biden regularly confuses the national debt with the national deficit.
Last week, the Treasury reported that in May, the US government collected $323.6 billion in tax receipts, it spent more than double that, or some $670 billion…
… resulting in a May budget deficit of $347 billion – about $100 billion more than consensus expected – and the second biggest May deficit on record, with only the Covid crisis peak of May 2020 higher.
As a result of the blowout May deficit, the cumulative fiscal 2024 shortfall once again surpassed the 2023 total, bringing the YTD deficit total to just over $1.2 trillion more than the $1.16 trillion cumulative deficit througth May 2023, and that’s with 4 more months left in the fiscal year.
Now, at this point, someone who still has a functioning brain at the CBO looked at the two llines and realized that with the final 2023 deficit printing just over $2 trillion, the CBO’s current forecast of “only” $1.5 trillion for 2024 looked idiotic at best, and like total propaganda garbage at worst.
The perpetually confused Joe Biden will probably take credit for the disastrous US budget.
(Excerpt) Read more at confoundedinterest.net ...
Chocolate chocolate poop
Most of it has been in place long before Biden. Both parties share the blame when it comes to deficits.
This much more than sharing the blame.
This is why Independents are now 47% of the electorate and the two parties talked about are fringe. THEY ARE SWAMP FILTH.
But the overall conclusion is VERY DIFFICULT to accept.
It is that there is no fix. Nothing can be done. Buy farmland and hope that you’re allowed to keep it.
The “Inflation Reduction Act” is a trillion plus contribution and that is Biden’s baby.
I don’t know where they come up with “$1.9 trillion deficit for the year”.
The national debt today is roughly $2.65 trillion more than it was on this date last year.
You are too easy on the Democrats with your simplistic “they all do it” BS.
The “cut the deficit in half” scam is something democrats regularly do after taking over from a Republican. Since the FY is already running the day of inauguration, democrats heap extra spending into the first 9 months, when the budget deficit for the year will be credited to his predecessor on September 30th. Then, the next year will have no extra incidental spending, because it was pulled forward into the previous year, and then surprise, a deficit “cut.” You’d think Republicans would talk about this scam once in a while.
Yes and no. Biden forgave a lot of student debt. The so called inflation reduction act was giant spending bill, practically money just going down the toilet. Plus a lot of other spending, none of them made us any better.
So, yes, the budget and deficit were not well before Brandon, but he did nothing to improve and a lot to make it worse!
“You are too easy on the Democrats with your simplistic “they all do it” BS.”
You are too easy on the Republicans by ignoring the fact they “do it” too.
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