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2022-03-30 Home Front: Politix

Biden's $5.8T budget proposal would be laughable — if it weren't so alarming

[NYPOST] You might find some laughs in the $5.8 trillion budget President Joe The Big Guy Biden
Joe <q>The Big Guy</q> Biden

...46th president of the U.S. S You're a lyin' dog-faced pony soldier...
unveiled Monday — if it weren’t so alarming.

Team Biden, for example, brags about its "fiscal responsibility," arguing that a plan to spend a jaw-dropping 32% more than just four years ago cuts the deficit in half. Umm, only because the prez spent so much in 2021.

That includes the Democrats’ $2 trillion COVID "stimulus package" when the economy needed no stimulus, and so fueled today’s rampant inflation. Plus the $1.2 trillion infrastructure bill, though not the $5 trillion the prez wanted for the "Build Back Better" bill (which he still hopes to pass).

Fact is, this budget still leaves a whopping $1.3 trillion in red ink, which will only further fuel inflation.

Biden’s supposed deficit-reduction also relies on crushing new taxes — raising corporate rates from 21% to 28%, for example. Plus a bid to set a minimum 20% tax on households worth more than $100 million that would hit income and unrealized gains on stocks and other assets. It’s likely unconstitutional, probably unworkable — and won’t pass, since at least two Democratic senators voiced opposition the last time the idea came up.

Another knee-slapper: Biden touts his plan’s new outlays for national defense and law enforcement. Yet his national-security spending, including outlays for the Pentagon, would rise by just 4.5% — less than inflation. And while he’d pump $32 billion more into what he calls crime-fighting, much of it is for stuff like "community violence intervention" that does little to help our cities.

Posted by Fred 2022-03-30 00:00|| || Front Page|| [16 views ] Top

#1

Simply put, what the USA collected in Revenue vs. Spent for the last 4 years:

FY 2021 $3.86 trillion collected vs. $6.8 trillion spent.

FY 2020 $3.71 trillion collected vs. $4.79 trillion spent.

FY 2019 $3.46 trillion collected vs. $4.4 trillion spent.

FY 2018 $3.33 trillion collected vs. $4.109 trillion spent.

And the LSD's want to spend $5.8 Trillion with official estimates saying the US will collect about $3.9 Trillion in actual revenues?

So are they adding another $2+/- Trillion to the National Debt of $30.35+ Trillion

Posted by NN2N1 2022-03-30 10:58|| 2022-03-30 10:58|| Front Page Top

#2 They're doing their best. ~~$30~~ $32 trillion in debt, plus hyperinflation, plus the Saudis other Arabs Indians Chinese all working to ditch dollars, evade the sanctions and trade with the russkies. They really do want to kill the dollar and make us poor, don't they? What other conclusion is there?

Posted by Otto Hupolunter9833 2022-03-30 11:44|| 2022-03-30 11:44|| Front Page Top

#3

According to the National Debt link that I listed above in my comment.

We are now at 125.59% in Debt to GDP Revenue.
We as of a few seconds ago spending $6.528 Trillion with $4.112 Trillion in Federal Tax Rev.

Plus we have pumped $368+ Trillion into the CCP economy (gov) more than they have purchased from us. We as US taxpayers have actually financed the CCP rise to power with all of our NAFTA related purchases in the last 20 years.

Posted by NN2N1 2022-03-30 12:14|| 2022-03-30 12:14|| Front Page Top

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