Remember to thank Dark Brandon for this. U.S. budget deficit cut in half for biggest decrease ever amid Covid spending declines https://www.cnbc.com/2022/10/21/us-...crease-ever-amid-covid-spending-declines.html The U.S. budget deficit was sliced in half for fiscal 2022, the biggest drop in history following two years of huge Covid-related spending. The shortfall declined to $1.375 trillion, compared to the 2021 deficit of $2.776 trillion. Revenue posted easily the highest one-year total on record. The deficit decline would have been steeper had it not been for the Biden administration’s student loan forgiveness program. The U.S. budget deficit was sliced in half for fiscal 2022, the biggest drop in history following two years of huge Covid-related spending. Though still large in historical terms, the budget shortfall declined to $1.375 trillion, compared to the 2021 deficit of $2.776 trillion. The decline would have been steeper had it not been for the Biden administration’s student loan forgiveness program. Education spending totaled $639.4 billion for the fiscal year, $408 billion higher than estimated. The 2022 fiscal year saw $4.896 trillion in revenue against $6.272 trillion in outlays. The outlays number represented about a $550 billion decline in spending but an $850 billion increase in revenue. The revenue total is by far the highest ever for the U.S. government. Deficits in the previous two years soared as Congress shelled out massive sums to combat the pandemic. The shortfall hit a record $3.13 trillion in 2020 due to more than $5 trillion in CARES Act spending and other outlays. In 2019, the deficit was $983.6 billion. Prior to 2020, the highest deficit ever was $1.41 trillion in 2009 as the financial crisis came to a close. The U.S. briefly ran a surplus from 1998 to 2001. In fiscal 2021, legislators passed the American Rescue Plan, a $1.9 trillion spending package that the White House said helped get the nation through a severe health and economic crisis, but which critics say was unnecessary and helped fuel the highest inflation rate in more than 40 years. President Joe Biden, however, placed the deficit blame on Republicans for approving the 2017 tax cut bill. “The federal deficit went up every single year in the Trump administration — every single year he was president,” he said. “It went up before the pandemic. It went up during the pandemic. It went up every single year on his watch, Republican’s watch.” Biden called the GOP fiscal approach “mega-MAGA trickle down” that he defined as “the kind of policies that have failed the country before and it’ll fail it again.” Treasury Secretary Janet Yellen said the budget statement released Friday “provides further evidence of our historic economic recovery, driven by our vaccination effort and the American Rescue Plan.” Yellen added that the results also showed Biden’s “commitment to strengthening our nation’s fiscal health.” Earlier this year, the White House pushed through the Inflation Reduction Act aimed at a variety of areas including reducing medical costs, boosting clean energy and reforming the tax code. However, inflation has continued to climb, and administration officials have stressed that the Federal Reserve’s primary role in fighting price increases is through interest rate hikes.
The shortfall is only $1.375 trillion! Bravo, bravissimo! We are winning! Strong leadership is in charge! American Rescue Plan, a $1.9 trillion spending package certainly helped! Spend more!
That's meaningless. All it's saying is that major corporations are situated in cities. Says f-all about the attempted implication.
While Trump was stumbling through his "big announcement", on the other side of the world "Sleepy Joe" was conducting expert diplomacy to prevent WWIII. Here’s What President Biden Was Doing During Trump’s 2024 Speech https://www.msn.com/en-us/news/worl...-doing-during-trump-s-2024-speech/ar-AA14aigg As Donald Trump announced his candidacy for the Republican nomination for President in 2024 at his Mar-a-Lago resort in Palm Beach, Florida, Tuesday evening, President Joe Biden was in a makeshift war room in Indonesia, addressing a potential global crisis—offering a splitscreen of the two leaders. Trump had previously lambasted both the G7 and NATO, questioning the groups’ value, during his term in office. During his campaign announcement in Florida, however, he said of the G20, “I used to love that. The leaders—I used to make deals for our country like you would not believe.” But in reality, observers have said Trump’s foreign policy approach as president left the United States more isolated and a less reliable international partner. Biden pledged in his 2020 campaign to reassert America’s leadership in the global arena. Just before the former President took the stage in Florida to launch his 2024 bid, Biden convened an “emergency” meeting at his hotel with other leaders of the G7 and NATO member states on the sidelines of the G20 Summit in Bali, after reports of an explosion on Poland’s eastern side near the Ukraine border killed two of its citizens. The Polish foreign ministry initially said the blast came from a Russian-made missile. Russia’s defense ministry denied involvement. According to NATO’s Article 5, an attack on one member, such as Poland, is considered an attack on all the members, and may trigger a collective response. Early Wednesday morning in Bali, Biden called Polish President Andrzej Duda to express his “deep condolences” for the deaths in Przewodow, less than 4 miles from the border with Ukraine. After discussing with G7 and NATO leaders, Biden promised full support for Poland’s investigation into the explosion, saying there was “total unanimity among folks at the table.” A joint statement from the two groups condemned the attacks.
Free labor (slavery) and welfare from the rest of the country is the only way southern conservatives could survive.