Joe Biden has proposed a $5.8 Trillion budget for the next fiscal year. While China, Russia and even North Korea have developed hypersonic missiles and we are behind in this technology, including missile defense, Biden's budget only includes a 4% increase for Defense, which is actually a cut because we are likely to have 10% inflation this year and next. Biden does include an unworkable tax increase for Billionaires that will only bring in about $360 billion, if ever collected over ten years, which is peanuts. Biden also wants to get rid of the Trump tax cuts, which will raise taxes on everyone. In particular, Biden wants to raise the corporate income taxes from the current 21% to 28%, which will drive more companies overseas to lower tax venues; great for China. This budget is dead on arrival. It is just the Build Back Broke Plan that they tried and failed to get through Congress. It is filled with Socialist pork of all kinds including billions to support the Green New Deal and Illegal Aliens. Oink, Oink, Oink!
Most important, Biden claims that his budget will reduce the deficit contributing to our $30 Trillion national debt with no end in sight. How is this possible when the federal government only takes in about $4 Trillion a year in revenues. This means that the US government will either have to print money or borrow to cover the additional $1.8 Trillion, which will be added to our national debt. Going out ten years, Biden's budget increases the national debt by trillions of dollars. Even public school 5th grade math should make this obvious.
In the meantime, both Social Security and Medicare are headed toward bankruptcy with no plan in place to save these programs. Instead, Biden adds new entitlements to support illegal aliens, which will just increase the numbers coming across our border in the next year. And, while we should be focused on making the United States energy independent again by drilling for more oil and natural gas, Biden is spending money on Green New Deal boondoggles that will do little to meet our nation's energy needs. As a result, the cost of energy will continue to sky rocket. Since the cost of energy is baked into everything we do, eat, buy etc. we will see inflation soar in the next twelve months lowering the standard of living for all Americans.
Bidenistas are clueless about the needs of the American people. This $5.8 Trillion proposed budget is just more government mismanagement that has been going on for years. Eventually, the balloon will burst and then we will see the economic collapse of the United States. It is inevitable and it is just a matter of time. Then all bets are off.
No comments:
Post a Comment