{"id":1706092,"date":"2022-10-21T15:03:36","date_gmt":"2022-10-21T19:03:36","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1706092"},"modified":"2022-10-21T15:03:40","modified_gmt":"2022-10-21T19:03:40","slug":"us-deficit-soars-562-percent-thanks-to-bidens-student-debt-forgiveness","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-deficit-soars-562-percent-thanks-to-bidens-student-debt-forgiveness\/","title":{"rendered":"US Deficit Soars 562 Percent Thanks to Biden\u2019s Student Debt Forgiveness"},"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\">22<\/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%2Fus-deficit-soars-562-percent-thanks-to-bidens-student-debt-forgiveness%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=1706092&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--><p>The monthly federal budget deficit was up 562 percent from September of last year, according to Treasury Department <a href=\"https:\/\/fiscal.treasury.gov\/files\/reports-statements\/mts\/mts0922.pdf\" target=\"_blank\" rel=\"noopener\">figures<\/a> released Friday, mainly due to President Joe Biden&#8217;s student debt forgiveness plan.<\/p>\n<p>The deficit specifically jumped in the last month of fiscal year 2022, the Associated Press <a href=\"https:\/\/apnews.com\/article\/biden-health-business-government-and-politics-covid-d36ac4d38bcebb8a300d3fa1f1381623\" target=\"_blank\" rel=\"noopener\">reported<\/a>, because of Biden&#8217;s plan to forgive student loans for millions of Americans, which the Penn Wharton Budget Model projects will cost taxpayers\u00a0<a href=\"https:\/\/freebeacon.com\/biden-administration\/biden-loan-cancellation-could-cost-more-than-1000000000000-says-penn-wharton-budget-model\/\" target=\"_blank\" rel=\"noopener\">more than $1 trillion<\/a>.<\/p>\n<p>Biden on Friday\u00a0<a href=\"https:\/\/www.youtube.com\/watch?v=nepOSEGHHCQ\" target=\"_blank\" rel=\"noopener\">praised<\/a> his administration for lowering the total deficit to $1.4 trillion since last year, though the Congressional Budget Office <a href=\"https:\/\/www.cbo.gov\/publication\/58493\" target=\"_blank\" rel=\"noopener\">attributed<\/a> the decrease to the ending of pandemic-era spending and an increase in income taxes. Biden continues to claim\u00a0that &#8220;our economy is strong as hell&#8221; as inflation soars and a <a href=\"https:\/\/freebeacon.com\/latest-news\/everyone-expects-recession-except-biden\/\" target=\"_blank\" rel=\"noopener\">recession<\/a> looms.<\/p>\n<p>&#8220;The entirety of the decline in the deficit between 2021 and 2022 can be attributed to the expiration of temporary COVID relief, not due to a renewed era of fiscal responsibility,&#8221; said\u00a0Maya MacGuineas, president of the Committee for a Responsible Federal Budget, in a <a href=\"https:\/\/www.crfb.org\/press-releases\/14-trillion-deficit-not-accomplishment\" target=\"_blank\" rel=\"noopener\">statement<\/a> Friday. &#8220;In fact, the deficit would have been almost $400 billion lower had the Biden administration not decided to enact an inflationary, costly, and regressive student debt cancellation plan in August.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The monthly federal budget deficit was up 562 percent from September of last year, according to Treasury Department figures released Friday, mainly due to President Joe Biden&#8217;s student debt forgiveness plan.<br \/>\nThe post US Deficit Soars 562 Percent Thanks to Biden\u2019s Student Debt Forgiveness appeared first on Washington Free Beacon.<\/p>\n","protected":false},"author":1262,"featured_media":1655396,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[],"class_list":["post-1706092","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1706092","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\/1262"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1706092"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1706092\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1655396"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1706092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1706092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1706092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}