{"id":415602,"date":"2021-04-12T21:28:38","date_gmt":"2021-04-13T01:28:38","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=415602"},"modified":"2021-04-12T21:28:39","modified_gmt":"2021-04-13T01:28:39","slug":"bidens-budget-deficit-hits-record-1-7t-as-spending-soars","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-budget-deficit-hits-record-1-7t-as-spending-soars\/","title":{"rendered":"Biden\u2019s budget deficit hits record $1.7T as spending soars"},"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\">18<\/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%2Fbidens-budget-deficit-hits-record-1-7t-as-spending-soars%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=415602&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 id=\"attachment_2397394\" class=\"wp-caption aligncenter\">\n<p id=\"caption-attachment-2397394\" class=\"wp-caption-text\">An exterior view of the building of U.S. Department of the Treasury is seen on March 27, 2020 in Washington, D.C. (Photo by OLIVIER DOULIERY\/AFP via Getty Images)<\/p>\n<\/div>\n<h5>OAN Newsroom<br \/>UPDATED 6:22 PM PT \u2013 Monday, April 12, 2021<\/h5>\n<p>U.S. federal budget deficit hit a record high amid elevated spending and tepid GDP recovery by the Biden administration.<\/p>\n<p>According to the Treasury Department on Monday, U.S. budget deficit hit a record $1.7 trillion in the period between October 2020 and March 2021. The deficit rose mainly due to Joe Biden\u2019s stimulus package passed in March, which erased the previous fiscal consolidation by the Trump administration.<\/p>\n<p>Federal spending grew 45 percent, while federal receipts rose just 6 percent over that period.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Federal spending grew 45% in fiscal year 2020. This is more than double the 2009 increase following the Great Recession. Federal spending in 2020 was equivalent to 31% of GDP, higher than the 20% annual average since 1980. <a href=\"https:\/\/t.co\/Jz4r60mGac\">https:\/\/t.co\/Jz4r60mGac<\/a> <a href=\"https:\/\/t.co\/5tfr6L77GZ\">pic.twitter.com\/5tfr6L77GZ<\/a><\/p>\n<p>\u2014 USAFacts (@USAFacts) <a href=\"https:\/\/twitter.com\/USAFacts\/status\/1367867834395725825?ref_src=twsrc%5Etfw\">March 5, 2021<\/a><\/p>\n<\/blockquote>\n<p>Critics said U.S. public finances are becoming increasingly unsustainable.<\/p>\n<p>\u201cBecause that growth was established by first getting loans, often from foreign countries,\u201d Hans Netten, senior lecturer at Hague University said. \u201cAnd then all of that money from those loans was dumped into the American economy, so that the American government and all kinds of big American companies that the government gives all kinds of lucrative contracts to, they could then spend all that money, and your government called it economic growth.\u201d<\/p>\n<p>Biden is now seeking to spend yet another $2 trillion to finance Democrat partisan projects disguised as an infrastructure package.<\/p>\n<h4>MORE NEWS: <a href=\"https:\/\/www.oann.com\/judge-in-chauvin-case-denies-motion-to-sequester-jurors\/\">Judge In Chauvin Case Denies Motion To Sequester Jurors<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>An exterior view of the building of U.S. Department of the Treasury is seen on March 27, 2020 in Washington, D.C. (Photo by OLIVIER DOULIERY\/AFP via Getty Images) OAN NewsroomUPDATED &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2276037,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-415602","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\/415602","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=415602"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/415602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2276037"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=415602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=415602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=415602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}