Big Bend Texas
Platinum Member
- Mar 14, 2022
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Biden's rescue plan adds 1.9 trillion in new spending.What fawking free money moron. Two out of the three new dollars created in the last year were from the Trump administration. In Biden's first year he reduced the deficit, and paid down some of the debt. And yeah, Biden raised the royalties on oil from federal land, but those royalties are still lower than Texas. Did oil companies stop drilling on land owned by the state of Texas when I wasn't looking?
His supposed deficit reduction was due to underestimating revenues not due to any actual reduction in spending.
Ultimately, CBO said FY 2021 ended with a deficit of nearly $2.8 trillion—about $360 billion less than the deficit in 2020. That’s similar to the $350 billion figure Biden uses. CBO noted that the deficit for 2021 ended up smaller than it had projected in July “mostly because income tax receipts were greater than CBO projected.”

Biden's Deficit Spin - FactCheck.org
In recent speeches, President Joe Biden has been misleadingly taking credit for cutting federal deficits by historic amounts, though most of the reduction in deficits is the result of expiring emergency pandemic spending. Deficits fell between fiscal year 2020 and 2021 far less than initially...
