President Joe Biden should not be bragging about a budget with a $1.8 trillion deficit, especially with inflation rising yet again.
revealed that the consumer price index rose by 3.2% in the year ending in February, well past economist expectations and up from 3.1% in January. Worse still, both headline CPI and core CPI, that is, the Federal Reserve’s preferred inflation measure sans the volatile categories of food and energy, rose by a staggering 0.4% in February. That’s a 4.8% inflation rate annualized, or more than twice the Fed’s maximum 2% target annually.
Although the president and his sycophantic stenographers in the media have lied that his 2025 budget proposal would slash the deficit by $3 trillion, that’s a promise of only cumulative savings over the course of a whole decade, and only relative to baseline budget projections.
In a less stupid society, the notion of a president proudly proclaiming his aim to rack up a $2 trillion deficit while presiding over a peacetime economy would garner outrage. And when his profligate spending has already catalyzed higher overall prices by 18% in just three years, it should make his candidacy for reelection a nonstarter.
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