After perennially and uncritically repeating President Biden’s false claims about cutting the federal budget deficit, The Washington Post admitted that Biden will double the deficit this year to $2…
After perennially and uncritically repeatingThe paper’s elite editors and reporters are mystified that “U.S. deficit explodes even as economy grows.”Cynics now claim that the Commerce Department no longer refers to its Bureau of Economic Analysis but instead to Biden’s Economic Alterations.
Federal spending increased 16% in fiscal year 2023 — at the same time tax revenue plunged by 7%. Soaring budget deficits should be a surprise only to people who failed arithmetic in fifth grade. At the time that compromise was brokered, House Speaker Kevin McCarthy boasted, “The systemic reforms we set in place mark the beginning of historic change in Washington.”
Naming that deal the Fiscal Responsibility Act was a legislative disgrace for a bill that authorized perpetual trillion-dollar deficits.
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