{"id":1411302,"date":"2022-03-30T18:59:58","date_gmt":"2022-03-30T22:59:58","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1411302"},"modified":"2022-03-30T19:00:04","modified_gmt":"2022-03-30T23:00:04","slug":"arsonist-taking-credit-for-containing-a-fire-gop-senators-blast-biden-admin-for-claiming-5-8-trillion-budget-is-fiscally-responsible","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/arsonist-taking-credit-for-containing-a-fire-gop-senators-blast-biden-admin-for-claiming-5-8-trillion-budget-is-fiscally-responsible\/","title":{"rendered":"\u2018Arsonist Taking Credit For Containing A Fire\u2019: GOP Senators Blast Biden Admin For Claiming $5.8 Trillion Budget Is Fiscally Responsible"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">40<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Farsonist-taking-credit-for-containing-a-fire-gop-senators-blast-biden-admin-for-claiming-5-8-trillion-budget-is-fiscally-responsible%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1411302&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/dw-wp-production.imgix.net\/2022\/03\/A215532A-2477-4FEF-8CCA-FF7872CCFF6F-scaled.jpeg?w=1200&#038;h=800&#038;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Republicans on the Senate Budget Committee blistered the Biden administration for claiming that its $5.8 trillion budget proposal would ensure \u201cfiscal responsibility,\u201d while it would actually worsen the budget deficit and the national debt.<\/p>\n<p>The senators made their remarks in a committee hearing to discuss the White House\u2019s fiscal year 2023 budget proposal with Office of Management and Budget Director Shalanda Young.<\/p>\n<p>\u201cThe president has touted his budget as fiscally responsible. It is not responsible,\u201d Iowa Republican Senator <a href=\"https:\/\/www.youtube.com\/watch?v=-O-lEByTYuU\">Chuck Grassley<\/a> said. \u201cHe attempts to take credit for cutting this year\u2019s deficit by $1.3 trillion; that is mainly the product of pandemic-era spending coming to an end. In fact, most of this so-called \u2018deficit reduction\u2019 results from the president and the majority in Congress going on a $2 trillion liberal wish list spending spree, stoking the flames of inflation,\u201d he continued, referring to Biden\u2019s $1.9 trillion American Rescue Plan. \u201cSo in the end, then, taking credit for deficit reduction resulting from discontinuation of irresponsible spending is comparable to an arsonist taking credit for containing a fire by refraining from dousing it with more gasoline.\u201d<\/p>\n<p>Pennsylvania Republican Senator <a href=\"https:\/\/www.youtube.com\/watch?v=Rm3SA_TWsuQ\">Pat Toomey<\/a> said the Biden administration\u2019s claims were \u201cflat-out false,\u201d and agreed with Grassley that the deficit reductions were due to COVID spending. \u201cThe president\u2019s budget message to Congress states: \u2018Critically, my budget would also keep our nation on a sound fiscal course.\u2019 Well, that\u2019s just flat-out false. Our nation is not on a sound fiscal course. It hasn\u2019t been for quite some time,\u201d Toomey said. \u201cIt\u2019s clear to me that the president\u2019s budget would worsen our nation\u2019s fiscal health.\u201d<\/p>\n<p>Toomey pointed out that Biden\u2019s budget would increase the budget deficit by more than $14 trillion over 10 years, and public debt would balloon by trillions of dollars as well. He also pointed out, like Grassley, that Biden\u2019s supposed deficit reduction was due entirely to trillions of dollars in \u201cunprecedented [emergency] spending\u201d for COVID relief no longer being included. He then lambasted the American Rescue Plan for making the 2021 deficit worse than it should have been, and for \u201c[proving] to be a significant contributor\u201d in driving inflation to a 40-year record high.<\/p>\n<p>Utah Republican Senator <a href=\"https:\/\/www.youtube.com\/watch?v=DLNI8LXsn0E\">Mitt Romney<\/a> sparred with Young regarding the sustainability of the budget over the long-term. He pointed out that at current spending levels, the federal debt would grow to more than double the country\u2019s GDP. He then pointed out the examples of economic collapse in both Greece and Italy once their debt was larger than their economies. Young said that the White House only looks at debt in terms of how much spending is needed to pay the interest. But Romney noted that when debt becomes too high, investors demand higher interest rates, which leads to \u201cback-breaking\u201d increases to service the debt.<\/p>\n<p>\u201cSo what would you have said to every other country that\u2019s gotten to this level that\u2019s had an economic collapse? That they were just wrong?\u201d Romney said. \u201cEvery major civilization that\u2019s gone down this path has ended up having their currency no longer become the reserve currency of the world and [having] economic collapse. We simply cannot continue on a road of adding a trillion dollars of debt every year \u2026 [And] every single year in your ten-year forecast, you\u2019re showing deficits of over a trillion dollars a year. I don\u2019t know how \u2026 we can keep adding a trillion dollars a year to the debt without at some point reaching calamity.\u201d<\/p>\n<p>Biden claimed in a statement announcing his $5.8 trillion budget proposal Monday that it emphasized \u201c<a href=\"https:\/\/www.dailywire.com\/news\/biden-says-fiscal-responsibility-is-one-of-the-values-of-his-enormous-5-8-trillion-budget-proposal\">fiscal responsibility<\/a>,\u201d and would cut the federal deficit by $1.3 trillion from 2022. \u201cBudgets are statements of values, and the budget I am releasing today sends a clear message that we value fiscal responsibility, safety and security at home and around the world, and the investments needed to continue our equitable growth and build a better America,\u201d Biden said.<\/p>\n<p><em>The Daily Wire is one of America\u2019s fastest growing conservative media companies for breaking news, investigative reporting, sports, podcasts, in-depth analysis, books, and entertainment for a reason: because we believe in what we do. We believe in our country, in the value of truth and the freedom to speak it, and in the right to challenge tyranny wherever we see it. Believe the same?\u00a0<\/em><a href=\"https:\/\/www.dailywire.com\/subscribe\"><em>Become a member now and join our mission<\/em><\/a><em>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Republicans on the Senate Budget Committee blistered the Biden administration for claiming that its $5.8 trillion budget proposal would ensure \u201cfiscal responsibility,\u201d while it would actually worsen the budget deficit<\/p>\n","protected":false},"author":189,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1411302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1411302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/189"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1411302"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1411302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1411302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1411302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1411302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}