(Worthy News) – The monthly federal budget deficit was up 562 percent from September of last year, according to Treasury Department figures released Friday, mainly due to President Joe Biden’s student debt forgiveness plan.
The deficit specifically jumped in the last month of fiscal year 2022, the Associated Press reported, because of Biden’s plan to forgive student loans for millions of Americans, which the Penn Wharton Budget Model projects will cost taxpayers more than $1 trillion.
Biden on Friday praised his administration for lowering the total deficit to $1.4 trillion since last year, though the Congressional Budget Office attributed the decrease to the ending of pandemic-era spending and an increase in income taxes. Biden continues to claim that “our economy is strong as hell” as inflation soars and a recession looms. [ Source: Washington Free Beacon (Read More…) ]
We're being CENSORED ... HELP get the WORD OUT! SHARE!!!
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.
Strictly Necessary Cookies
Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.
If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.