Thursday, June 22, 2023

On Dufus Biden Still Not Understanding the Difference Between U.S. Debt (the Total Amount of Outstanding Borrowing by the Feds Accumulated Over the Nation's History) and Deficits (the Shortfall In Tax Revenue In Any Given Year Comparative to Government Spending)

 Being generous here, when he claimed that he had cut the debt by some huge number he probably meant that he had reduced the deficit by that amount. But even if that's what he meant, it's still quite deceptive in that the baseline from which he's starting was the COVID year when we were spending at ludicrous levels and so, yes, the deficit is bound to go down. In fact, it should have gone down even more but with Biden at the helm......a fat chance of that happening.

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