The total amount of spending reduction to offset the Biden budget blitzkrieg adds up to a fat zero, writes StephenMoore. Nothing is paid for. It’s all debt.
magine someone close to you has a drinking problem. Night after night, he goes out to the bars on wild binges, chugging down 10 to 12 beers a night. But then, in a supreme effort to reform himself, the drunkard cuts his consumption down to a six-pack every night.President Joe Biden’s
Talk about putting lipstick on a pig. Biden’s administration has led the federal government in spending and borrowing more money in his first 20 months in the White House than any other president in history. No one else comes close to his record of fiscal recklessness. Instead, Biden swooped into office, and even though Trump, in his final weeks, with Congress, enacted a $1 trillion COVID-19 relief bill that hadn’t even been spent yet, Biden called for his $1.9 trillion American Rescue Plan. That was merely a massive bailout of blue states that had kept their businesses locked down for nearly a year.
The Biden White House justifies the borrowing blowout by saying that it “inherited an economy in free fall.” Not exactly. In the second half of 2020, the six months before Trump left office, the economy surged by more than 20%. So far this year, the economy has grown in nine months by an earth-shattering 0.08%. That’s the real disaster here, not what Biden inherited.
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