{"id":1612175,"date":"2022-08-18T07:18:38","date_gmt":"2022-08-18T11:18:38","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1612175"},"modified":"2022-08-18T07:18:58","modified_gmt":"2022-08-18T11:18:58","slug":"terence-p-jeffrey-big-government-biden","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/terence-p-jeffrey-big-government-biden\/","title":{"rendered":"Terence P. Jeffrey: Big Government Biden"},"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\">12<\/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%2Fterence-p-jeffrey-big-government-biden%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=1612175&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><\/div>\n<p>In the first 18 full months that Joe Biden has been president \u2014 February 2021 through July 2022 \u2014 the federal government has spent $9,728,646,000,000, according to data published in the Monthly Treasury Statement.<\/p>\n<p>Even when the historical spending numbers are adjusted for inflation into July 2022 dollars (using the Bureau of Labor Statistics&#8217; inflation calculator), no recent president comes close to having spent that kind of money in their first year and a half in office.<\/p>\n<p>President Donald Trump spent $7,274,266,740,000 in July 2022 dollars in his first 18 full months. President Barack Obama spent $7,166,360,490,000. President George W. Bush spent $4,835,392,120,000. President Bill Clinton spent $4,287,553,940,000. President George H.W. Bush spent $3,705,774,660,000. President Ronald Reagan spent $3,123,980,640,000.<\/p>\n<p>It is true that the United States is a more populous country now than it was in July 1982, when Reagan completed his first 18 full months in office, but federal spending has grown significantly faster than the population.<\/p>\n<p>The $3,123,980,640,000 in July 2022 dollars that the federal government spent during Reagan&#8217;s first year and a half equaled approximately $13,485 for each of the 231,664,000 people who, according to the Census Bureau, were living in the United States in July 1982. <\/p>\n<p>The $9,728,646,000,000 that the federal government spent during Biden&#8217;s first year and a half in office equaled approximately $29,229 for each of the 332,838,183 people who were living here this July.<\/p>\n<p>In Trump&#8217;s first 18 months, per capita spending was approximately $22,234 in July 2022 dollars. In Obama&#8217;s first 18 months, it was approximately $23,168. Under George W. Bush, it was approximately $16,811. Under Clinton, it was approximately $16,470. Under George H.W. Bush, it was approximately $14,855. Under Reagan, it was approximately $13,485.<\/p>\n<p>Biden is the spending champion of American presidents \u2014 both in total overall spending and per capita spending.<\/p>\n<p>But that is not his only achievement. He has also been collecting record taxes.<\/p>\n<p>In the first 10 months of this fiscal year (October 2021 through July 2022), which will be Biden&#8217;s first full fiscal year in office, the Treasury collected a record $4,104,725,000,000 in total taxes.<\/p>\n<p>Since February 2021, Biden&#8217;s first full month in office, the Treasury has collected $6,962,684,000,000 in total taxes. That is more than it collected in the first 18 months under Trump, Obama, George W. Bush, Clinton, George H.W. Bush or Reagan.<\/p>\n<p>The total tax collections during Biden&#8217;s first 18 months are also the most per capita when compared with those other presidents.<\/p>\n<p>In Reagan&#8217;s first 18 months, the Treasury collected $2,821,848,240,000 in total taxes in July 2022 dollars. That equaled approximately $12,181 for each of the 231,664,000 people living in the United States in July 1982.<\/p>\n<p>The $6,962,684,000,000 in total taxes that the Treasury collected in the first 18 full months of Biden&#8217;s presidency works out to approximately $20,919 for each of the 332,838,183 people in this country in July.<\/p>\n<p>In Biden&#8217;s first 18 months, the Treasury collected $8,738 more in per capita taxes than it did in Reagan&#8217;s first 18 months.<\/p>\n<p>Yet despite the record taxes the Biden administration is collecting, the administration is still running a deficit.<\/p>\n<p>According to the data published in the Monthly Treasury Statement, the federal government ran a cumulative deficit of $2,765,962,000,000 from February 2021 through July 2022.<\/p>\n<p>The only president who ran a bigger deficit in his first 18 months was Obama, whose cumulative deficit hit $2,975,995,260,000 in constant July 2022 dollars in the period from February 2009 through July 2010.<\/p>\n<p>The $2,765,962,000,000 deficit that Biden has run in his first year and a half in office equals approximately $8,310 for each of the 332,838,183 people in this country.<\/p>\n<p>This week, Biden signed a 730-page bill that Democrats in Congress called the Inflation Reduction Act. Not one Republican voted for it.<\/p>\n<p>In his speech at the bill signing ceremony, Biden placed a heavy emphasis on climate change. <\/p>\n<p>&#8220;I am about to sign the Inflation Reduction Act into law, one of the most significant laws in our history,&#8221; said Biden.<\/p>\n<p>&#8220;The American people won and the special interests lost,&#8221; he said.<\/p>\n<p>&#8220;The Inflation Reduction Act invests $369 billion to take the most aggressive action ever, ever, ever, ever in confronting the climate crisis and strengthening our energy security,&#8221; said Biden.<\/p>\n<p>&#8220;This new law also provides tax credits that&#8217;s going to create tens of thousands of good-paying jobs and clean-energy manufacturing jobs,&#8221; he said. &#8220;Solar factories in the Midwest and the South, wind farms across the plains and off our shores, clean hydrogen projects and more. All across America. Every part of America.<\/p>\n<p>&#8220;This bill is the biggest step forward on climate ever, ever,&#8221; he said, &#8220;and it&#8217;s going to allow \u2014 it&#8217;s going to allow us to boldly take additional steps toward meeting all of my climate goals \u2014 the ones we set out when we ran.&#8221;<\/p>\n<p>Indeed, the Senate-passed text of this so-called Inflation Reduction Act includes the terms &#8220;greenhouse gas&#8221; and &#8220;greenhouse gases&#8221; a combined 138 times.<\/p>\n<p>If there is anything emitting gas these days, it is the man in the Oval Office.<\/p>\n<p>Terence P. Jeffrey is the editor-in-chief of CNSnews.com. To find out more about him, visit the Creators Syndicate webpage at www.creators.com. <\/p>\n<p itemprop=\"imageCaption\"><small>Photo credit: <a href=\"https:\/\/pixabay.com\/goto\/5997654\/\" rel=\"external noopener\" target=\"_blank\">RGY23<\/a> at Pixabay<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the first 18 full months that Joe Biden has been president \u2014 February 2021 through July 2022 \u2014 the federal government has spent $9,728,646,000,000, according to data published in<\/p>\n","protected":false},"author":1,"featured_media":1612464,"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-1612175","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\/1612175","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=1612175"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1612175\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1612464"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1612175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1612175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1612175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}