Quote:
Originally Posted by Encroaching Death
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Well since you're too lazy to click my link, I'll show you here:
But Marc Goldwein, senior vice president at the nonpartisan Committee for a Responsible Federal Budget (CRFB), calculates that deficits would have been about 3.3 or 3.4 percent of GDP if everything were the same as in the February 2021 projection. The big difference was the impact of inflation, according to the CBO — and an unexpected $80 billion windfall in 2021 for the government in the sale of telecommunications licenses.
In other words, again the data show the deficit picture has worsened under Biden.
Moreover, any suggestion that this claimed deficit reduction will help pay for student loan relief is disingenuous. The budget deficit soared in the first place because of a national emergency. “This is like a family going into debt for a one-time $100,000 medical expense, and then the next year claiming they can afford to borrow $50,000 for a sports car because the medical expense is over,” said Brian Riedl, a budget expert at the Manhattan Institute
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He reduced the budget deficit by cramming discretionary spending("the budget") into mandatory spending. Which isn't part of the budget.
Biden is correct, you get 5 Pinocchios. 🤥🤥🤥🤥🤥🤥
10-14-2022, 08:27 PM
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