{"id":1512008,"date":"2022-06-12T07:04:56","date_gmt":"2022-06-12T11:04:56","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1512008"},"modified":"2022-06-12T07:05:32","modified_gmt":"2022-06-12T11:05:32","slug":"john-stossel-biden-brags-that-he-cut-the-deficit-but-us-debt-is-actually-rising-quickly","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/john-stossel-biden-brags-that-he-cut-the-deficit-but-us-debt-is-actually-rising-quickly\/","title":{"rendered":"John Stossel: Biden Brags That He Cut the Deficit \u2014 But Us Debt Is Actually Rising, Quickly"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">34<\/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%2Fjohn-stossel-biden-brags-that-he-cut-the-deficit-but-us-debt-is-actually-rising-quickly%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=1512008&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--><aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>The president now brags that he cut the deficit!<\/p>\n<p>\u201cWe\u2019re on track,\u201d he says, to have \u201cthe biggest decline in a single year ever in American history.\u201d<\/p>\n<p>It\u2019s actually true. But utterly deceitful.<\/p>\n<p>President Joe Biden\u2019s deficit will be down from last year, but that\u2019s only because he spent such gargantuan amounts then.<\/p>\n<p>For once, the media did not take his remarks at face value. Even\u00a0<a href=\"https:\/\/www.cnn.com\/2022\/05\/09\/politics\/fact-check-biden-deficit-reduction\/index.html\">CNN\u00a0ran<\/a> a \u201cfact check\u201d that quoted a Moody\u2019s Analytics director saying, \u201cThe actions of the administration and Congress have undoubtedly resulted in higher deficits, not smaller ones.\u201d<\/p>\n<p>Much higher. Despite record tax revenues from last year\u2019s booming stock markets, our national debt will increase by about $1 trillion.<\/p>\n<p>Sadly, most people don\u2019t care. These big numbers are too abstract. This will not end well.<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/stossel-deficit-609.jpg\"><\/a><figcaption>Biden\u2019s spending only decreased due to his administration\u2019s large spending in 2021.<\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>During Barack Obama\u2019s presidency, I complained about his irresponsible spending. Obama practically doubled our debt. What a relief it was when Donald Trump was elected! He looked at the budget and said, \u201cThere\u2019s a lot of fat in there!\u201d He promised he\u2019d \u201ccut spending, big-league!\u201d<\/p>\n<p>Foolishly, I believed him. But Trump cut almost nothing. He bragged that his military spending set \u201can all-time record.\u201d Congress was partly to blame, but under Trump, our debt rose by another third.<\/p>\n<p>Never trust politicians.<\/p>\n<p>Last year, Biden made things much worse. He signed a $1.9 trillion COVID-19 relief law, saying he was \u201cgiving people in this nation, working people, middle-class folks, people who built the country, a fighting chance.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/stossel-deficit-607.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/stossel-deficit-607.jpg\" alt=\"Infrastructure\" class=\"wp-image-22617364\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/stossel-deficit-607.jpg?quality=75&#038;strip=all&#038;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/stossel-deficit-607.jpg?quality=75&#038;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/stossel-deficit-607.jpg?quality=75&#038;strip=all&#038;w=512 512w\" \/><\/a><figcaption>Biden\u2019s infrastructure bill was costly for the government.<\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>It included $1,400 stimulus checks, increased unemployment benefits and increased child-tax credits.<\/p>\n<p>Then he added the $1.2 trillion \u201cinfrastructure\u201d bill, which included billions in state and local aid, billions for schools, billions for small businesses, $110 billion for infrastructure and $66 billion for Biden\u2019s favorite subsidy for the rich, money-losing Amtrak.<\/p>\n<p>Biden wanted to spend even more, but his Build Back Better Act failed to pass. Thanks, Sen. Joe Manchin. You saved us $2.2 trillion and made our government a\u00a0<em>little<\/em>\u00a0less irresponsible.<\/p>\n<aside class=\"single__inline-module alignright\">\n\t<\/aside>\n<p>Biden\u2019s recent deficit-reduction bragging didn\u2019t mention that he wants to increase the deficit even\u00a0<em>more.<\/em>\u00a0Last week, he put taxpayers on the hook for $5.8 billion in debt from people who attended Corinthian Colleges. Now he wants taxpayers to pay hundreds of billions more so other students don\u2019t have to pay.<\/p>\n<p>Biden also bragged about a \u201crecord 6.7 million jobs created last year \u2014 the most in the first year of any president in American history.\u201d But the president didn\u2019t create those jobs.<\/p>\n<p>In panic over COVID, governments shut down so many businesses that they raised the unemployment rate to 14.7%. Biden then slowed hiring further by giving non-workers extended unemployment benefits and fat stimulus checks. For many people, that meant they could make as much, or more, collecting unemployment. No wonder they didn\u2019t go back to work.<\/p>\n<p>Finally, most benefits have run out, so of course, we have job growth now. It\u2019s not because of anything good that Biden did.<\/p>\n<p>Under Biden, Trump and Obama, federal spending almost doubled.<\/p>\n<p>Hope for future spending responsibility is bleak. \u201cBiden\u2019s 10-year outlook still would rack up $14.4 trillion in deficits,\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-29\/biden-s-trillion-dollar-deficit-reduction-barely-dents-u-s-debt\">reports\u00a0Bloomberg<\/a>. More money gets printed, inflation gets worse and the national debt grows.<\/p>\n<p>Politicians need to make actual cuts to make a difference in our debt.<\/p>\n<p>Budget cuts are needed to give our children hope for a prosperous future. But Biden won\u2019t do that.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The president now brags that he cut the deficit! \u201cWe\u2019re on track,\u201d he says, to have \u201cthe biggest decline in a single year ever in American history.\u201d It\u2019s<\/p>\n","protected":false},"author":1,"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-1512008","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\/1512008","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1512008"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1512008\/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=1512008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1512008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1512008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}