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Bidenomics: U.S. Budget Deficit Explodes
23% Higher to $1.7 Trillion

Original Article

Posted By: Imright, 10/20/2023 10:22:54 PM

The U.S. budget deficit increased 23 percent to $1.7 trillion, an increase of $320 billion, in the year after the Biden administration pushed through the Inflation Reduction Act which it claimed would close the government’s funding gap. The explosive growth in the deficit came as revenue fell $457 billion from a year ago and expenses decreased by just $137 billion. Total spending for the year came in at $6.134 trillion. Spending would have been higher if the Supreme Court had not declared Biden’s student loan forgiveness program illegal.The deficit adds to the U.S. debt total, which the government said earlier this week had reached $33.6 trillion.

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Reply 1 - Posted by: NorthernDog 10/20/2023 10:32:27 PM (No. 1582442)
That's why mortgage rates are now 8 % and a pound of bologna is $12.
4 people like this.

Reply 2 - Posted by: Timber Queen 10/20/2023 10:43:04 PM (No. 1582451)
I believe it would be better for the country if we just shut down Washington D.C. Turn off the lights, lock the doors, put out the "Closed" signs. Don't open up on Monday morning. I'm thinking of that song near the end of "My Fair Lady" where Eliza is singing to Professor Higgins in his mother's garden: They can still rule with land without you. [Mount Rushmore] will stand without you. And without much ado we can all muddle through without you. MAGA REVENGE - TRUMP 2024
8 people like this.

Reply 3 - Posted by: Trigger2 10/21/2023 2:11:42 AM (No. 1582516)
Joey's Bidenomics is a horror story, strictly put in place to bankrupt the USA. Period.
3 people like this.

Reply 4 - Posted by: Bur Oak 10/21/2023 8:03:04 AM (No. 1582607)
Actually there is no budget. The administration has a wish list (they call it a budget) every year which they don't follow. That's where the numbers in the article comes from. Congress hasn't passed a budget in years. The government is funded by continuing resolutions. That is why the country is in deep trouble. Congress is mostly for show.
1 person likes this.

Reply 5 - Posted by: downnout 10/21/2023 8:45:57 AM (No. 1582634)
Wow, Bidenomics is great!! S/
0 people like this.

Reply 6 - Posted by: DVC 10/21/2023 9:30:44 AM (No. 1582666)
Because crushing, smashing and wrecking the economy, also known as "Bidenomics" has caused tax revenues to drop massively. When Republicans LOWER taxes and REDUCE government regulations, tax revenues LEAP up. When dangerous, stupid Dems raise taxes and massively increase government restrictions - tax revenues CRASH down. It happens every time, and yet the Destructive Dimwitted Dems insist on doing their destructive idiot tricks every time. And the result is the same, every time. Cue midget economics fool Robert Reich and Fake "Nobel Prize winner" Paul Krugman to start the rounds of TV to explain that this is disaster actually good for the country, and how well "Bidenomics is working".....as the economy circles the drain.
1 person likes this.

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