Biden exploding MAGA heads by reducing the deficit

[blackhawk]

You do realize Congress namely the Senate and Joe Manchin prevented Biden from doing a great deal of the spending he wanted to by killing his massive build back better agenda.

 

[citygator]

You do realize Congress namely the Senate and Joe Manchin prevented Biden from doing a great deal of the spending he wanted to by killing his massive build back better agenda.

Nice try. Build back better was to be budget neutral.

 

[para bellum]

The massive deficits are from off-budget spending.

Democrats passed a $2Tn covid porkulus last year, the so-called "American Rescue Plan".

Now they are claiming the biggest "deficit reduction in history" because they didn't do it again this year.

Yeah, right.

 

[Independent thinker]

Biden’s first budget is on trend to be the lowest deficit in years continuing the fiscal responsibility of democratic administrations. Thanks Biden!

The federal budget deficit was $475 billion in the first five months of fiscal year 2022, CBO estimates. That amount is less than deficits recorded during the same period in the three prior fiscal years: It is less than half the shortfall recorded for the same months in fiscal year 2021 ($1,047 billion) and three-quarters of the deficit recorded in 2020 ($624 billion), just before the start of the coronavirus pandemic. It is slightly below 2019.

Monthly Budget Review: February 2022

The federal budget deficit was $475 billion in the first five months of fiscal year 2022, CBO estimates. That amount is less than deficits recorded during the same period in the two prior fiscal years.

www.cbo.gov

Deficit Tracker | Bipartisan Policy Center

Even as the U.S. economy expands, the federal government continues to run large and growing budget deficits that will soon exceed $1 trillion per…

bipartisanpolicy.org

View attachment 613426

So, you're thanking Manchin and Sinema?

 

[Independent thinker]

Nice try. Build back better was to be budget neutral.

LOL. Even your own party didn't believe that nonsense.

 

[CowboyTed]

The debt is at a record high under your Vegetable Messiah.

Of Course it is... Because US keeps on borrowing money, so every day of Trump's administration was a record day...

Did you say that...

This is the same crap, GOP President campaigns on reducing deficit and then increases it...
Democrat President talks about being responsible and ends up reducing it...

Why? because policies a bit more left of US have turned out to be more successful, just look at Germany, they ran a surplus for 8 out of the last 10 years...

Just compare financial performance

Germany Government budget deficit 2024

Evolución del Déficit Público en Alemania en 2011 y años anteriores.

countryeconomy.com

United States Government budget deficit 2023

countryeconomy.com

The RW here will not read what I posted... They will just call Germany assholes for some reason (by the way the guys who paid for the Vaccine)

 

[Wyatt earp]

They use the same graph to show the rising price of gasoline and food.

Thread winner

 

[22lcidw]

Nice try. Build back better was to be budget neutral.

Of course, it was.

 

[para bellum]

Reminder. Trump broke it before Covid. Obama had it tamed. Biden will too.

View attachment 613471

Bush 43 had it tamed, dems took the Congress in 2006 and the FY 2007 spending (calendar year 2008) had a $487Bn deficit. Then the crash and TARP, $350Bn of that was spent by Bush, and $350Bn was spent by Obama in 2009. Dems also passed the $874Bn porkulus in 2009, and gave government a 12% raise across the board (minus the Pentagon).

There was a lot of gimmickry in the budgets under Obama at the end of his second term, if you go back and look at the CBO forecasts you will see that 2016 was the low point in the 10-year outlook under Obama's budget and it went back up after that- indefinitely. That was baked in before the 2016 election.

What was happening under Trump was the economy was growing about 50% faster than the CBO projections, and that dramatically altered the 10-year outlook. The US economy never met the CBO projections for growth under Obama, but it exceeded them every year under Trump. Had that been allowed to continue, the increase in federal revenues would have reversed the upwards trend. The CBO projections were based on annual growth rate of 1.8%, and we were doing 2.5-3%. That difference translates to about $1.5 trillion dollars in federal revenues over the ten year forecast, most of that coming after 2025.

Republicans didn't cut spending, dems won't allow that. But they were working the other side of the equation- growing the economy and increasing revenues to help offset the out-of-control spending.

 

[para bellum]

Nice try. Build back better was to be budget neutral.

You don't really believe that do you?

That was so full of gimmicks, the real price was closer to $10 Tn over the 10-year budget window.

 

[Jets]

Neither party actually cares about spending unless it’s the opposition holding the purse…

 

[Calypso Jones]

Sure wish we had President Trump in the White House for the peace, prosperity and security we had during those four years.

 

[para bellum]

The other thing to remember is that under Clinton there was a tech boom, and he enjoyed annual cap gains revenues of $350-$400Bn, which vaporized in the 2000 tech crash.

Clinton also enjoyed a Social Security surplus that was the same amount or higher, thanks to Reagan's 1986 reforms that pushed back retirement age and raised the FICA taxes.

Even with all that, Clinton still vetoed the budget control act 3 times before he was finally forced to sign it.

2001 was a budget surplus, but the debt still went up. Look it up. Mandatory spending programs are off-budget.

Social Security went upside-down in 2011- it now pays out more than it takes in, and that's off-budget spending.

Neither party is serious about getting the budget under control.

 

[BluesLegend]

Wait....you fuckers were just screaming about the Debt...

Now it doesn't matter?

You dumb asses are funny. How many trillions in Biden deficit spending did we stop cold in congress while Biden and Dems squealed like stuck pigs now you people spin that as Biden being a deficit hawk? Talk about desperate, there's nothing you losers won't spin.

 

[BluesLegend]

And...and and then Dems claim to be deficit hawks

 

[iceberg]

Biden’s first budget is on trend to be the lowest deficit in years continuing the fiscal responsibility of democratic administrations. Thanks Biden!

The federal budget deficit was $475 billion in the first five months of fiscal year 2022, CBO estimates. That amount is less than deficits recorded during the same period in the three prior fiscal years: It is less than half the shortfall recorded for the same months in fiscal year 2021 ($1,047 billion) and three-quarters of the deficit recorded in 2020 ($624 billion), just before the start of the coronavirus pandemic. It is slightly below 2019.

Monthly Budget Review: February 2022

The federal budget deficit was $475 billion in the first five months of fiscal year 2022, CBO estimates. That amount is less than deficits recorded during the same period in the two prior fiscal years.

www.cbo.gov

Deficit Tracker | Bipartisan Policy Center

Even as the U.S. economy expands, the federal government continues to run large and growing budget deficits that will soon exceed $1 trillion per…

bipartisanpolicy.org

View attachment 613426

as I put $90 in gas in my truck for the week, pay 15% more for just about everything and have to play hide and seek with potential nuclear fallout, I'll be sure to thank him for this.

Lord you cheerleaders are so full of shit.

 

[TroglocratsRdumb]

The corrupt Democrat Party loots, it does not save.

 

[mudwhistle]

Potaothead tremendously increased the debt and increased spending and now the sonofabitch is bragging because there was a minor difference in the cumulative deficit? LOL!

Yea, these Moon Bats are that confused.

By the way, the stupid Democrats think inflation is a way to reduce the debt.

The OP is just a mindless shill for the Democrap Party.

 

[scruffy]

Nice try. Build back better was to be budget neutral.

lol

The American left is insanely gullible.

 

[Flash]

We haven't seen nothing yet with inflation. Just wait until Biden's increase in the price of fuel filters through out the economy.

Biden is owned by the Environmental Wackos and those policies are a disaster for this country.

lol

The American left is insanely gullible.

The Moon Bats always go into denial when confronted with the destruction Leftest polices do to this country.

If they aren't denying then they blaming it on somebody else.