The president now brags that he cut the deficit! “We’re on track,” he says, to have “the biggest decline in a single year ever in American history.” It’s actually true. But utterly deceitful. President Joe Biden’s deficit will be down from last year, but that’s only because he spent such gargantuan amounts then. For once,
Our country possibly needs an Ernest Hollings or a Bill Proxmire, legendary senators who battled overspending. That’s because the idea of the big-spending federal government, an apparently bi-partisan Keynesian idea that huge government spending always creates prosperity, is hugely popular. Congress and the Biden administration are pushing a new nearly $2 trillion stimulus spending package.