Archive for 2023

SUSTAINABILITY: Biden’s Proposal: Increase Debt By 57.8%.

If you scroll down to pages 142 and 143 of Biden’s proposal — its last two pages — you will discover Table S-10: “Federal Government Financing and Debt.”

This table tells a different story than Biden himself does.

It includes a subsection that carries the headline: “Debt Outstanding, End of Year.” It shows what the Biden administration predicts the total federal debt would be — under the terms of Biden’s budget proposal — at the end of each fiscal year through 2032.

At the end of fiscal 2021, it indicates, the total federal debt was $28.386 trillion. At the end of fiscal 2032, it predicts, the total federal debt will be $44.797 trillion.

That means that under Biden’s budget plan the federal debt would increase by $16.411 trillion — or 57.8% — in the 11 fiscal years from when he first took office in fiscal 2021 through fiscal 2032.

That is an average increase of $1.49 trillion per year.

At which point, $1.49 trillion might buy you a beetleburger.

A POST-DAVOS WORLD? Sign Me Up. “This wannabee gaggle of quasi-oligarchs and autocrat throne sniffers represents everything that is wrong with the human desire for control, power, and to crush the individual for fun and profit. They pretend to be the world government in waiting that no one asked for, no one wants, and trust me on this – no one wants to live under. Being unaccountable to the people is their ideal state.”

Related:

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OPEN THREAD: Readers, take the wheel.