For all of President JoeBiden’s boasting about the deficit reduction that has occurred on his watch, his administration and its allies in Congress are pushing dramatic increases in government spending, even as inflation continues to climb.
For all of President Joe Biden’s boasting about the deficit reduction that has occurred on his watch, his administration and its allies in Congress are pushing dramatic increases in government spending, even as inflation continues to climb.
In February 2021, the nonpartisan Congressional Budget Office projected that the United States would run a deficit of $2.3 trillion for the fiscal year. That analysis, the CBO said, was based on the assumption that the programs in place as of Jan. 12, 2021, when President Donald Trump was still in office, would remain in place throughout the fiscal year.
Biden’s messaging on inflation has been equally misleading, with the potential for even more significant consequences, given that Biden’s refusal to acknowledge the drivers of inflation could lead his party to create more of them. But the looming budget process for the next fiscal year, which begins in just three months, could give Democrats a chance to funnel money toward some of their policy priorities without a contentious intraparty battle.
Finally, one drafted a budget that would increase funding for the State Department and related agencies by 15% over fiscal year 2022 levels. Although Biden asked in late March for more 2023 funding for nearly every category of government, he did propose a cut to at least one agency: Customs and Border Protection, for which he requested less than Congress had appropriated last year even amid a record-breaking surge of illegal immigration at the border.
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