{"id":1706322,"date":"2022-10-21T17:34:36","date_gmt":"2022-10-21T21:34:36","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1706322"},"modified":"2022-10-21T17:34:49","modified_gmt":"2022-10-21T21:34:49","slug":"mega-maga-trickle-down-biden-makes-bold-claim-on-how-he-fixed-the-budget-after-republicans-blew-it-out","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mega-maga-trickle-down-biden-makes-bold-claim-on-how-he-fixed-the-budget-after-republicans-blew-it-out\/","title":{"rendered":"\u2018Mega MAGA Trickle-Down\u2019: Biden Makes Bold Claim On How He Fixed The Budget After Republicans Blew It Out"},"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\">36<\/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%2Fmega-maga-trickle-down-biden-makes-bold-claim-on-how-he-fixed-the-budget-after-republicans-blew-it-out%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=1706322&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>President <a href=\"http:\/\/dailywire.com\/topic\/biden-administration\" target=\"_blank\" rel=\"noopener\">Joe Biden<\/a> argued on Friday that his administration was responsible for the largest decrease of the <a href=\"http:\/\/dailywire.com\/topic\/national-debt\" target=\"_blank\" rel=\"noopener\">budget deficit<\/a> in American history, while \u201cmega MAGA trickle-down\u201d policies from Republicans \u201cfailed the country.\u201d<\/p>\n<p>The claim occurs as the national debt <a href=\"https:\/\/www.dailywire.com\/news\/national-debt-surpasses-31-trillion-for-the-first-time-republicans-and-democrats-both-to-blame\" target=\"_blank\" rel=\"noopener\">surpasses<\/a> $31 trillion for the first time, <a href=\"https:\/\/www.usdebtclock.org\/\" target=\"_blank\" rel=\"noopener\">implying<\/a> over $93,000 in liabilities per citizen and nearly $248,000 per taxpayer. As he argued that the nation is transitioning \u201cfrom a historically strong economic recovery to a steady and stable growth,\u201d Biden added that the deficit fell by $1.4 trillion this year and $350 billion last year.<\/p>\n<p>\u201cToday, we have further proof that we\u2019re rebuilding the economy in a responsible way,\u201d he said during a <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/10\/21\/remarks-by-president-biden-on-historic-deficit-reduction\/\" target=\"_blank\" rel=\"noopener\">speech<\/a>. \u201cLet me be clear: This record deficit reduction includes the cost of my student loan plan and everything else we\u2019re paying for.\u201d<\/p>\n<p>Biden failed to mention, however, that the deficit surged as policymakers enacted multiple stimulus packages meant to dampen economic fallout from government lockdowns. The deficit surged from nearly $1 trillion in 2019 to $3.1 trillion in 2020, according to <a href=\"https:\/\/fred.stlouisfed.org\/series\/FYFSD\" target=\"_blank\" rel=\"noopener\">data<\/a> from the Office of Management and Budget, while the current deficit of $1.4 trillion exceeds the last pre-recession deficit by roughly $400 billion.<\/p>\n<p>Policies enacted by the Biden administration will contribute more than $4.8 trillion in new deficit spending between 2021 and 2031, according to an <a href=\"https:\/\/www.crfb.org\/blogs\/biden-administration-has-approved-48-trillion-new-borrowing\" target=\"_blank\" rel=\"noopener\">analysis<\/a> from the Committee for a Responsible Federal Budget. Removing the effect of the American Rescue Plan, a $1.9 trillion package greenlit weeks after Biden\u2019s inauguration, implies $2.5 trillion of new deficits.<\/p>\n<p>Biden was nevertheless quick to argue that his policies decreased spending more than those enacted by Trump, who indeed oversaw a rapid increase in spending even before the recession.<\/p>\n<p>\u201cOn my watch, things have been different. The deficit has come down both years that I\u2019ve been in office,\u201d Biden said. \u201cAnd I just signed legislation that\u2019s going to reduce it even more in the decades to come. Now Republicans in Congress are doubling down on their commitment to explode the deficit again. Just this week, Republican leaders said if they get their way, they\u2019re going to extend the Trump tax cuts, which are due to expire in a couple years.\u201d<\/p>\n<p>The comments occur less than one month before the midterm elections, in which the economy and inflation rates are particularly salient issues for American voters, as indicated by a <a href=\"https:\/\/www.dailywire.com\/news\/new-midterm-poll-spells-bad-news-for-democrats-on-the-economy\" target=\"_blank\" rel=\"noopener\">poll<\/a> from ABC News and The Washington Post. Republicans lead the Democrats by a 16% margin and a 19% margin with respect to trust in handling the economy and inflation, respectively.<\/p>\n<p>\u201cIf Republicans get their way, the deficit is going to soar, the tax burden is going to fall on the middle class,\u201d Biden added. \u201cAnd Republicans are working really hard.\u201d<\/p>\n<p>Democratic candidates, however, have <a href=\"https:\/\/www.dailywire.com\/news\/vulnerable-democrats-in-swing-states-distance-themselves-from-biden-on-student-debt-cancellation\" target=\"_blank\" rel=\"noopener\">distanced themselves<\/a> from Biden and his economic agenda, including an executive order which canceled as much as $20,000 in student loan debt per borrower. One <a href=\"https:\/\/www.dailywire.com\/news\/clear-majority-of-americans-worried-about-more-inflation-as-biden-mulls-canceling-student-debt\" target=\"_blank\" rel=\"noopener\">survey<\/a> from CNBC revealed that 59% of Americans are concerned that eliminating student debt will worsen inflation.<\/p>\n<p>In terms of midterm predictions, Biden conjectured that his party will \u201csee one more shift\u201d in the polls toward their side before Americans cast their ballots. \u201cIt\u2019s been back and forth with them ahead, us ahead, them ahead. Back and forth,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden argued on Friday that his administration was responsible for the largest decrease of the budget deficit in American history, while \u201cmega MAGA trickle-down\u201d policies from Republicans \u201cfailed the country.\u201d The claim occurs as the national debt surpasses $31 trillion for the first time, implying over $93,000 in liabilities per citizen and nearly &#8230;<\/p>\n","protected":false},"author":1,"featured_media":1706325,"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":[541],"tags":[],"class_list":["post-1706322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"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\/1706322","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=1706322"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1706322\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1706325"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1706322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1706322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1706322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}