https://issuesinsights.com/2023/02/17/the-cbo-exposes-bidens-5-45-trillion-lie/
While spending the country into ruin, President Joe Biden likes to portray himself as a fiscal conservative who has cut the deficit in half in the past two years. But a new report from the non-partisan Congressional Budget Office shows just how big a lie this is — a 5 1/2 trillion dollar lie, to be exact.
During his State of the Union speech last week, Biden not only claimed that “my administration has cut the deficit by more than $1.7 trillion — the largest deficit reduction in American history,” he also claimed that he’s a miser compared to Donald Trump. “Under the previous administration, the American deficit went up four years in a row. … Nearly 25% of the entire national debt that took over 200 years to accumulate was added by just one administration alone — the last one,” he said.
“They’re the facts. Check it out. Check it out.”
Well, we checked it out. And it is perhaps the most flagrant of all Biden’s lies. The evidence shows that Biden is, in fact, the most fiscally reckless president in history.
Days after Biden’s speech, the CBO released its latest 10-year forecast for the federal budget. What it reveals is that Biden sharply increased the deficit last year, this year, and next year, and he has set the country on course to add a total of $5.45 trillion to the federal deficit over the following decade.
How do we know this? Because two years ago, when the CBO released its 2021 budget forecast, it did so before any of Biden’s policies had been enacted. That report assumed that the laws in place at the end of President Donald Trump’s term remained in effect for the next decade. So, it serves as a baseline against which we can measure the impact of Biden’s policies.
Here’s what the numbers show: