The House of Representatives Budget Committee’s Ranking Republican Jason Smith released this analysis of the Biden FY 2023 federal budget recommendation, labeling it “Another Year of Crisis.”
The report blasts President Biden’s FY23 budget as “deliberately worse every crisis American families are already facing by continuing his failed policies.” Many say it is “dead on arrival” in the Congress, but the components are clearly intended to reincarnate much of Biden’s “Build Back Better” runaway spending and taxes proposal, and the Biden team’s continuing commitment to fiscal irresponsibility. Highlights are:
- $73 Trillion in Spending
66% Increase Over Previous 10 Years
- $58 Trillion in Taxes
80% Increase Over Previous 10 Years
- $16 Trillion in New Public Debt
$1+ Trillion Deficits Every Year
Topics EconomyPolitics
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