Da Bidenomics Nat’l Debt Delusion

As Voodoo Biden claims HIS magic wand is reducing the nation’s annual budget deficit, he ignores HIS pandemic give-away is finally ending & OUR national debt will hit record 31T cause of ever-expanding gov’t entitlements…

The Fox Business warning that the US national debt will soon hit $31 trillion & will keep on going up is based on the reality that “’structural deficits’ are keeping [and will continue to keep] the US in the red.” In plain English, federal entitlements are pushing America’s gov’t debt to the verge of eclipsing yet another new record, “even as COVID-related federal spending is finally slowing. In fact, Treasury Dept. data released last week showed the total national debt was $30.9 trillion and “on pace to hit $31 trillion as early as this month.”

Heritage Foundation's David Ditch explained “Biden’s boast is a hollow one” because he’s “simply presiding over a winding-down of emergency spending” that will result in relatively smaller annual budget deficits, which “confuses this wind-down with fiscal responsibility.” He concluded: “The problem is these structural deficits will keep us at about $1 trillion per year & we may hit $2 trillion per year next year” as the baked in federal entitlement costs, incl for Medicare & Social Security, continue to inflate by law. “Running that deficit every year without an emergency, it's mind-boggling.”

Davd Soul