Biden Admin's 2023 Budget Makes No Economic SenseCommentary
As the end of the year approaches, Joe Biden's budget for 2023 has to be approved. After reading the president's proposal, the Congressional Budget Office reported "that level of spending, debt, and taxes will be the highest sustained levels in U.S. history," worsening an economy that is already trending downward.
This year, inflation hit a 40-year high. The price of basic food was up. Eggs cost 33.1 percent more than last year and meat increased by 8.2 percent. Gas, which affects everyone, was up 59.9 percent. Used car prices increased by 7.1 percent and air travel by 34.1 percent.
However, Biden claimed victory, saying, "We have the fastest growing economy in the world." This prompted Stephen Moore, a distinguished fellow in economics at the Heritage Foundation, to say that the economic claims of the Biden administration reflect a complete disconnect with the reality on the streets of America....
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