Biden swipes at Trump for 'mismanagement' of the economy: 'We're reducing the Trump deficits'
By: Joseph Zeballos-Roig (Business Insider)
What the heck is Biden blowing smoke about now? Biden has suddenly become a budget hawk? Really?
Let's face it, Biden's polling numbers are in the dumpster. So, Biden needs to bring back Trump and stir the cesspool.
S E E D E D C O N T E N T
President Joe Biden swiped at his GOP predecessor on Monday, chastising what he viewed as economic "mismanagement" and touting his own ability to rein in federal spending.
"After my predecessor's fiscal mismanagement, we're reducing the Trump deficits and getting our fiscal house back in order," he said in brief remarks at the White House on the President's annual budget proposal.
He also said the budget deficit, or the gap between what the federal government spends and what it collects in tax revenue, swelled every year under Trump. Those higher deficits were largely the result of the 2017 Republican tax cuts and other agreements to increase both domestic and military spending, as well as a massive upswing in public health and economic support spending in the wake of the COVID-19 pandemic. According to Federal Reservedata, the national debt rose by almost $7.8 trillion during Trump's time in office.
Former President Donald Trump has had a number of surprising legal victories ever since he left the White House — though his greatest potential battles are still looming.
In November, Summer Zervos, who had accused Trump of sexual assault following her appearance on "The Apprentice," dropped her lawsuit against him before he was forced to sit for a deposition. At around the same time, a New York state judge dismissed a lawsuit from Michael Cohen seeking to have the Trump Organization reimburse his legal fees for work he did on Trump's behalf.
But greater dangers loom. The Trump Organization is the subject of a sprawling investigation from the Manhattan district attorney's office and the New York attorney general's office into alleged financial misconduct.
In Atlanta, Fulton County District Attorney Fani Willis is weighing charges over his conduct in the 2020 election. Those investigations are proceeding as the Justice Department comes up on the five-year deadline to prosecute Trump over acts of possible obstruction that former Special Counsel Robert Mueller III scrutinized as part of his investigation into Russia's interference in the 2016 election.
Meanwhile, the Biden administration is sending a steady stream of Trump's White House records to the House committee investigating the January 6, 2021, attack on the Capitol. And Trump — along with many of his allies — face federal investigations and lawsuits stemming from the January 6 insurrection. Expect the judges in those cases to set court dates later this year.
"We're making real headway cleaning up the fiscal mess I inherited," Biden said.
He added that his administration was "on track" to reduce the deficit by $1.3 trillion. Much of that, however, is largely due to expiring pandemic relief programs from the past two years. The federal government authorized roughly $6 trillion in COVID-19 relief spending, most of which was added to the debt.
Much of his economic messaging seemed aimed to sway Sen. Joe Manchin of West Virginia, a Democratic holdout who sank much of his social and climate plans last year. It amounts to a pivot back to the center from Biden.
Manchin has consistently talked about reducing the national debt as one of his top priorities using the reconciliation process. That's the legislative tactic that Democrats are employing to sidestep the GOP and send their economic plans to Biden's desk.
"We have to basically get our financial house in order," Manchin told Insider in February. "That's the whole purpose of reconciliation."
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Just remember, it's Trump's fault. Or it's Putin's fault. Or it's Manchin's fault. Or it's McConnell's fault.
We sure elected a 'go get 'em' President, didn't we? Biden has a scapegoat for every problem and claims every failure is a success. Biden is a true blue Democrat. And proves it every day.
President Biden reduced Trump's deficit by a trillion dollars in year one, the biggest one years drop ever!
Got a source?
Hey...Joe's got a genius plan!