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The horror of the Biden budget
The Hill ^ | August 28, 2020 | Judd Gregg

Posted on 09/28/2020 4:27:29 AM PDT by karpov


The Wharton School at the University of Pennsylvania a number of years ago developed a comprehensive and substantive platform for evaluating the federal budget.

This model was built so that those who govern and those who are governed could have an accurate and reasonably unbiased analysis of federal fiscal activities.

It is one of the most useful and effective tools around for figuring out just what the federal government and the various players who lead it in the Democratic and Republican parties are really up to.

The conclusion, after reviewing the opening bids put forward by Biden and his people, creates a rather desperate picture that could best described as horrible, if not “the horror.”

The most disconcerting shift in the Biden budget is its radical expansion of the size of the federal government as a percentage of national economic activity.

For the first time in our history, other than during the Second World War, the federal government will absorb almost 25 percent of our nation’s wealth under the Biden budget.

If you add in the activities of states and cities, government spending will easily exceed a quarter of the country’s economic output.

And this is only the opening gambit.

Approximately $5.4 trillion of spending on new programs or expanded federal social programs is proposed in the Biden budget over ten years.

A trillion dollars seems to have become the new billion dollars when it comes to federal spending sprees.

Recall that since the pandemic started, the Congress, president and Federal Reserve have reacted to it with incomprehensible expansions in fiscal and monetary largesse.

(Excerpt) Read more at ...

TOPICS: Business/Economy; Editorial; Politics/Elections
KEYWORDS: biden; budget; deficit; governmentspending; taxes

1 posted on 09/28/2020 4:27:29 AM PDT by karpov
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To: karpov

Biden is now offering bribes to get votes here in Florida.

His polling numbers must have gotten worse.

2 posted on 09/28/2020 4:57:21 AM PDT by Brian Griffin
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To: karpov

It’s more like the Harris budget. He will resign after the inauguration speech.

3 posted on 09/28/2020 4:59:34 AM PDT by DownInFlames (Gals)
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To: DownInFlames

C’mon man. How could you vote for me? You know I can’t even make out of the basement.
Biden’s inauguration speech if he wins.

4 posted on 09/28/2020 7:07:38 AM PDT by freefdny
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