Biden touts his deficit reductions but is only off by $3.7 trillion

[mark francis]

It may be impossible to know whether Biden believes the stuff that comes out of his mouth, but contrary to reducing the deficit by $1.7 trillion he is increasing it by $2 trillion.

Federal Deficit to Double to $2 Trillion Even as Biden Boasts Deficit-Cutting | The Epoch Times

Federal Deficit to Double to $2 Trillion Even as Biden Boasts Deficit-Cutting
'Unprecedented'

The White House in Washington on July 10, 2023. (Madalina Vasiliu/The Epoch Times)
By Tom Ozimek
9/4/2023

As President Joe Biden on Monday touted his apparent deficit-cutting mettle, a nonpartisan fiscal policy research group warned of an "unprecedented" explosion in the federal budget deficit, which it said is on track to double to $2 trillion this year.

 

[Phoenix68]

Biden touts his deficit reductions but is only off by $3.7 trillion​

Federal Deficit to Double to $2 Trillion Even as Biden Boasts Deficit-Cutting | The Epoch Times

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"The EPOCH TIMES??!!!!"
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[mark francis]

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While leftist slugs and rubes mock truth and reports detailing inconvenient facts about the US economy under Biden, reputable spokespeople continue to sound the warnings Americans would be wise to heed.

On the Brink of Financial Collapse: 10 Cities In Serious Danger of Bankruptcy - Wealthy Nickel

Cities that cannot pay their bills at the end of each fiscal year are known as ‘sinkhole’ cities, while those that can are called ‘sunshine’ cities. Each city receives grades between A and F — the lowest grade is F, which means the tax burden per citizen exceeds $20,000.

Here are the ten most fiscally troubled sinkhole cities in serious danger of bankruptcy.

1. New York City – Grade: F

 

[Boris Norris]

While leftist slugs and rubes mock truth and reports detailing inconvenient facts about the US economy under Biden, reputable spokespeople continue to sound the warnings Americans would be wise to heed.

On the Brink of Financial Collapse: 10 Cities In Serious Danger of Bankruptcy - Wealthy Nickel

Cities that cannot pay their bills at the end of each fiscal year are known as ‘sinkhole’ cities, while those that can are called ‘sunshine’ cities. Each city receives grades between A and F — the lowest grade is F, which means the tax burden per citizen exceeds $20,000.

Here are the ten most fiscally troubled sinkhole cities in serious danger of bankruptcy.

1. New York City – Grade: F

During his campaign Trump said he would eliminate both the debt and budget when he fact he proceeded to increase the debt by 7 trillion and double the budget.
You must have forgotten to include that.

 

[mark francis]

During his campaign Trump said he would eliminate both the debt and budget when he fact he proceeded to increase the debt by 7 trillion and double the budget.
You must have forgotten to include that.

Trump was bad for thinking and/or saying he would eliminate the US debt and Biden is just plain lying by claiming he is reducing the debt when he is rapidly increasing the debt to dangerous unprecedented levels.

 

[Boris Norris]

Trump was bad for thinking and/or saying he would eliminate the US debt and Biden is just plain lying by claiming he is reducing the debt when he is rapidly increasing the debt to dangerous unprecedented levels.

Not true. Biden cannot stop the debt rising as the precedents before him he never to the suckers like you that he would eliminate it.
Trump was an idiot then and us more so now and you're still defending him.

 

[mark francis]

Not true. Biden cannot stop the debt rising as the precedents before him he never to the suckers like you that he would eliminate it.
Trump was an idiot then and us more so now and you're still defending him.

True. He did not lower the debt as he claimed because, as you point out, he cannot do a thing to stop the rising debt.

 

[Starcastle]

The only way to eliminate most of the debt is to balance the budget for 10 years straight. It is doable but nobody in either party cares.

It is exhausting talking about this in a partisan way because both parties are so fiscally irresponsible.

 

[Starcastle]

I noticed that Dallas and Miami were on that list of financially unstable cities.

Dallas has a weak mayor and the city is primarily managed by an appointed city manager. The city council are non partisan.

Miami's mayor is a republican.

Not sure how we blame any president for bad management at the city level. I know there are states run by republicans that are not well managed fiscally and have a poor record for civil liberties.

Louisiana, Mississippi, Kansas and West Virginia are not well run and have high taxes and a poor record for civil liberties.

 

[the annoying thing]

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Lol it has Biden has the biggest 1 year deficit a record.

 

[Starcastle]

Lol it has Biden has the biggest 1 year deficit a record.

Yeah it always goes up.

The last year Obama was president the deficit was $587B.

The largest deficit ever was the last year of Trump, 2020 because of covid it was $3.1T.

There was a $2.2T Covid bill(Cares bill) passed in April 2020. It passed by a 96-0 vote in the senate and signed into law by Trump.

 

[Starcastle]

Federal deficits by year.

• 2017. $665B.
• 2018. $779B.
• 2019. $984B.
• 2020. $3.1T.
• 2021. $2.8T.
• 2022. $996B.
• 2023. $2T.

You republicans really want to go there? Not one republican voted against the Cares act which was $2.2T in spending in one bill!

 

[the annoying thing]

Yeah it always goes up.

The last year Obama was president the deficit was $587B.

The largest deficit ever was the last year of Trump, 2020 because of covid it was $3.1T.

There was a $2.2T Covid bill(Cares bill) passed in April 2020. It passed by a 96-0 vote in the senate and signed into law by Trump.

Yes but covid was spending was not included in this ,

 

[mark francis]

Federal deficits by year.

• 2017. $665B.
• 2018. $779B.
• 2019. $984B.
• 2020. $3.1T.
• 2021. $2.8T.
• 2022. $996B.
• 2023. $2T.

You republicans really want to go there? Not one republican voted against the Cares act which was $2.2T in spending in one bill!

Crooked politicians hide their spending excesses under the illusion that the deficit is the problem, not the debt. Irresponsible spenders are steering the US toward financial collapse by increasing the debt, regardless of what the irrelevant deficit is doing.

 

[Starcastle]

Crooked politicians hide their spending excesses under the illusion that the deficit is the problem, not the debt. Irresponsible spenders are steering the US toward financial collapse by increasing the debt, regardless of what the irrelevant deficit is doing.

What?

The debt is an accumulation of deficits. Bonds are issued to account for the deficits. So balance the budget for 10 straight years and we can retire most of that debt.