{"id":1802506,"date":"2023-01-11T13:05:37","date_gmt":"2023-01-11T18:05:37","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1802506"},"modified":"2023-01-11T13:08:33","modified_gmt":"2023-01-11T18:08:33","slug":"feds-borrowed-4-billion-per-day-in-2022-10k-per-household","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/feds-borrowed-4-billion-per-day-in-2022-10k-per-household\/","title":{"rendered":"Feds Borrowed $4 Billion Per Day In 2022 -$10K Per Household"},"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%2Ffeds-borrowed-4-billion-per-day-in-2022-10k-per-household%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=1802506&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-->\n<div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/2023.01.11-02.48-thepoliticalinsider-63becc3e0c399.jpg\" class=\"ff-og-image-inserted\" alt=\"image\"   style=\"display:none\"><\/div>\n<p><em>By Casey Harper\u00a0<\/em><em>(The Center Square).<\/em><\/p>\n<p>The federal debt rose by $1.4 trillion after President Joe Biden approved several spending packages.<\/p>\n<p>The Congressional Budget Office published the final details on federal spending in 2022. They showed that there was a $1.4 trillion deficit for the federal government last year and that it borrowed $82 billion in December.\u00a0<\/p>\n<p>\u201cThis is not a pretty picture no matter how you look at it,\u201d Maya MacGuineas, president and CEO of the Committee for a Responsible Federal Budget. \u201cThere are times to borrow \u2013 like during a pandemic or major recession \u2013 and there are times where we should ratchet down the borrowing, like now when the economy is strong and inflation is hot.\u201d<\/p>\n<p>MacGuineas pointed out last year\u2019s borrowing totals more than $10,000 per household and $4 billion per day.<\/p>\n<p>In the fall, the federal debt reached $31 trillion.\u00a0<\/p>\n<p><strong>Related: <a href=\"https:\/\/thepoliticalinsider.com\/jim-jordan-leaves-open-possibility-for-cuts-to-bloated-pentagon-budget\/\" target=\"_blank\" rel=\"noopener\">Jim Jordan Allows for Possible Cuts to the Pentagon Budget<\/a><\/strong><\/p>\n<p>Biden&#8217;s additional spending bills, which totaled several trillion dollars, were partly responsible for the increased debt. Although the initial spending bill received wide support due to the pandemic, it was later resisted by Republicans.<\/p>\n<div id=\"subscribe\" class=\"email-signup inarticle\">\n<h4>Support Conservative Voices!<\/h4>\n<h5><strong>Register to Receive the Latest<\/strong> Get political news, insights, and commentary directly to your inbox<\/h5>\n<\/div>\n<p>Biden claimed that the deficit would be reduced from $2.8 trillion last year to $1.4 trillion. However, that number is still higher than when Biden was elected. In 2019, the deficit in the budget was less than one billion dollars.<\/p>\n<p>\u201cWe need a fresh start in 2023 for how we budget, spend, and borrow,\u201d MacGuineas stated. \u201cMembers of Congress who are serious about the fiscal health of the nation should commit to passing a budget, not engaging in new borrowing, and coming up with a reasonable package of savings to help bring our debt down.\u201d<\/p>\n<p>The future of the deficit and debt looks grim if there are no changes. The Congressional Budget Office released its economic outlook for the next decade last summer and projected record high debt levels compared to the nation\u2019s Gross Domestic Product.<\/p>\n<p>\u201cCBO projects that the federal budget deficit will shrink to $1.0 trillion in 2022 (it was $2.8 trillion last year) and that the annual shortfall would average $1.6 trillion from 2023 to 2032,\u201d CBO. \u201cThe deficit continues to decrease as a percentage of gross domestic product (GDP) next year as spending related to the coronavirus pandemic wanes, but then deficits increase, reaching 6.1 percent of GDP in 2032. The deficit has been greater than that only six times since 1946.\u201d<\/p>\n<p><strong>Continue reading: <a href=\"https:\/\/thepoliticalinsider.com\/trump-calls-for-ouster-of-gop-senators-who-voted-for-1-7-trillion-omnibus-spending-bill\/\" target=\"_blank\" rel=\"noopener\">Trump Demands the Ouster of GOP Senators who voted for $1.7 Trillion Omnibus Spending Law<\/a><\/strong><\/p>\n<p><em>Syndicated with permission of The Center Square<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Casey Harper\u00a0(The Center Square). The federal debt rose by $1.4 trillion after President Joe Biden approved several spending packages. The Congressional Budget Office published the final details on federal spending in 2022. They showed that there was a $1.4 trillion deficit for the federal government last year and that it borrowed $82 billion in &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1802509,"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":[547],"tags":[9047,3990,5458,14433,7660,6617,7510,3819],"class_list":["post-1802506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-10k","tag-3990","tag-bongino","tag-borrowed","tag-day","tag-feds","tag-household","tag-report"],"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\/1802506","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=1802506"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1802506\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1802509"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1802506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1802506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1802506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}