The US Budget deficit hit the second-highest on record at $2.77 trillion in 2021. According to the AP, the highest on record was 2020 at $3.13, which was marred by the COVID pandemic.
The Biden regime attempted to celebrate the $360 billion in savings as a win, but is this really a win for Americans? Government spending totaled nearly $7 trillion in 2021 based on the report.
Nearly 50% of our entire federal spending is being borrowed. Borrowed from our children’s future and from other countries like communist China.
The AP reports Treasury Secretary Janet Yellen said, “Under President Biden’s leadership, the U.S. economy is getting back on track and Americans are getting back to work.” But getting Americans back to work is not addressing the budget crisis that America is facing.
Unemployment may fall, but America cannot keep spending at this rate. The national debt continues to rise, but the Biden regime does not appear to be focused on addressing the problem.
In fact, Democrats continue to focus on their $3.5 trillion spending plan.
Biden has indicated that he does not believe the votes are present to pass the measure with the tax increases that he had wanted. Some Democrats continue to stand against the massive plan, preferring to scale it back to a lower spending total.
In light of the recent report, is the spending necessary? Is it worth adding several trillion more in debt for services each year just so we can provide services and entitlement programs?
It seems that the majority of Americans do not believe in the spending plans. According to a recent poll, 70% of Americans do not support the massive spending proposals.
Content syndicated from TheLibertyLoft.com with permission.