Biden’s Disastrous 2022 Fiscal Budget

Ballot Paperwork Signing - Wilmington, DE - August 14, 2020 by Biden For President is licensed under CC BY-NC-SA 2.0

Biden’s budget was announced just before Memorial Day weekend, without much fanfare or publicity.

It’s no wonder that he didn’t want a lot of attention on the budget: it’s a disaster. 

Even by Democrat standards, the 2022 fiscal budget is full of so much spending and unnecessary pork. The budget is basically just pressing down the gas pedal on the national deficit.

Build Back Better Press Conference on Economic Equity – Wilmington, DE – July 28, 2020 by Biden For President is licensed under CC BY-NC-SA 2.0

What Does the New Budget Include?

The new budget includes $115 billion spent on improving roads and bridges, $225 billion to help with child care, $109 billion to pay for community college, and $174 billion for electric vehicle development…and that’s just for starters. 

It’s not even really a matter of whether you find some of the spending justified or good. After all, there are definitely plenty of bridges and roads that could use a boost; childcare is also a worthwhile investment in the future of American families. 

The problem occurs in that Biden has no actual plan or method to pay for his heavy spending in any way. Next year’s budget is going to cost an awful $1.8 trillion in deficit spending and that money all needs to keep coming from somewhere. 

When you keep throwing money at things and rolling the printing presses at the Federal Reserve, you head straight towards the kind of economic disaster that makes 2008 look like nothing. 

How Does Biden Plan to Raise Cash?

The only real plan Biden does have to generate some money is to raise taxes on businesses and “wealthy” people, which is a typical Democrat plan that never actually results in real economic growth. 

That’s especially true because since coming out of this disastrous pandemic, the last thing we need is more taxation on hardworking businesses. 

Job numbers have already been very disappointing. Biden has turned out to be an even worse president than anyone expected. By putting forward these kinds of debt-filled budgets, Biden on track to become the largest debt president in history. 

We can look forward to more inflation and people’s money will get less valuable. In April alone, inflation already went up by over 4%; this is a huge increase and things are not looking good on the economic front. 

We can do so much better than this. The economic miracle was created and enabled by President Trump was on the path to turning the country around before the Chinese-made COVID pandemic ruined everything and cost Trump the election. 

The return of big-spending Democrats to the Oval Office isn’t just bad on the border, on foreign policy, and on social issues: it’s awful for Americans on their bottom line and on economic matters.

Biden is a disaster. This budget is a disaster.