Wednesday, March 30, 2022

Is Bai-Den a Lawyer? Yup!!

The old joke was that you can tell a lawyer is lying because his lips are moving.

BidenšŸ¤” is most assuredly a lawyer and a liar.

Take his "fiscal responsibility" lie......please!

...$23,804,407,189,474.30 in federal debt consists of what the Treasury calls "debt held by the public." This is debt that has been financed through the sale of Treasury securities.

Under Biden's budget proposal, what is going to happen to this $23.8 trillion in "debt held by the public"? Will it be paid off? No. Will it be paid down? No.

According to Table S-10 in Biden's proposal, it is going to grow to $39.542 trillion by 2032. That is an increase of approximately $15.738 trillion from what the debt was Monday.

In fiscal 2023, according to the estimates Biden published in Table S-10 of his budget proposal, the federal debt held by the public will grow by $1.197 trillion. In each of the nine years after that, it will grow by increasing amounts. In 2032, the last year estimated in Biden's budget, the debt will increase by $1.815 trillion....

 Ah, yes.  The "value" of fiscal responsibility.

The next deep recession is going to hit later this year or very early next.  Let's see how well his 'tax revenue' projections hold out then.  It'll be even more fun when the food riots break out, no?

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