Joe Biden is about to propose a $6 trillion budget that would take the U.S. to its highest sustained levels of federal spending since World War II, The NY Times reports. It’s actually much worse than that.
Last year, the federal government spent nearly $7 trillion and added more than $3 trillion to the deficit. Now we have a president who will destroy our energy sector and will raise taxes, causing serious harm to our economy. This is also as he kills off small businesses, slams businesses high taxes after a pandemic, and increases Capital Gains.
It gets much worse.
What has already taken place is a disaster and will crash our economy and our dollar. Runaway inflation is a given. People who never get much in the way of salary increases or who are on fixed incomes will suffer, but we will all suffer — except for the very rich.
This is much worse than what happened during WWII.
The Times — bolstering Biden’s proposal — highlights his [absurd] claim that it will make us more competitive.
It blows money on payoffs and welfare:
The proposal would contain major ‘investments’ [taxes] in [socialist] infrastructure, [CRT] education, and [subsidies] health care, according to the Times, and bring federal spending levels to their highest sustained since World War II.
Under the plan, documents for which were obtained by the Times, the federal government would spend $6 trillion in the 2022 fiscal year, and spending would increase to $8.2 trillion by the year 2031.”
Biden is banking on an economic recovery to pay for most of it, leaving us with at least a trillion more in deficit spending each year. However, he is ignoring all he is doing to destroy the economy. Biden or his handlers are also ignoring the inevitable inflation.
Since his budget is nothing more than payoffs and welfare, it will do little or nothing for the economy. It will hurt.
The money will go for roads, water pipes, broadband internet, electric vehicle charging stations and advanced manufacturing [electric] research, windmills, affordable child care, universal prekindergarten, a national paid leave program, a public healthcare option, changes to unemployment [universal income?], and a host of other [socialist] initiatives.
The Times writes: Administration officials have said the jobs and families plans would be fully offset by tax increases over the course of 15 years…
In other words, we are all going to be highly taxed. There is no way the rich are going to pay for all this. We already have tax increases. As he destroys our energy sector, the increases for bad energy service will fall on the middle class and the poor. Gasoline is skyrocketing and heavily -subsidized electric cars will be unaffordable for the middle class.
It clearly takes away freedom and makes us government slaves.
According to the Times:
Rather than find a path to a sustainable debt, the plan would increase the country’s debt burden to 117 percent of GDP by the end of the decade, exceeding its World War II record in 2024.
Writ large, the budget proposal, which the White House is expected to formally lay out on Friday, is an unabashed call for a bigger role for government in the U.S. economy, bringing spending to a quarter of the nation’s annual output, larger than any level before the pandemic.
It assumes the passage of Biden’s American Jobs Plan and Americans Families Plan, which call for robust investments to rebuild aging infrastructure, bolster climate-friendly technologies like electric vehicles, and dramatically expand the social safety net.
THIS WILL DESTROY THE USA
Biden and his handlers [Obama and Soros] are quickly moving us to an unsustainable socialist USA.
The U.S. brings in about $3 to $3.5 trillion a year. Biden’s budget will actually guarantee $3 trillion in budget deficits and runaway inflation every year. Look towards stagflation, perhaps one we can’t recover from.
This is either the result of feeble minds or they clearly want to destroy the United States. Given what has gone on so far, we believe it to be the latter.
This isn’t even socialism, it’s communism. It destroys America.
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