BIDEN’S 2025 BUDGET BLOWOUT
Shared By Peter Boykin – American Political Commentator / Citizen Journalist / Political Candidate
Joe’s big fat 2025 budget
BIDEN’S 2025 BUDGET BLOWOUT
Joe Biden unveils a whopping budget proposal for Fiscal Year 2025, stuffed with sky-high taxes and a surge in welfare spending.
The eye-watering cost of Biden’s budget reaches a staggering $7.3 trillion. To put it in perspective, Donald Trump’s budget proposal during his election year clocked in at $4.8 trillion.
Biden’s own budgetary reckoning concedes that this fiscal plan would inject a hefty $1.8 trillion into our national debt in 2025 alone. Yet, in reality, the fiscal impact could soar to a jaw-dropping $2.4 trillion.
With spending of $7.3 trillion and expected govt total revenue of $4.9 trillion for 2025 …
That is like spending $150,000 per year when your salary is only $100,000 annually. https://t.co/rhvAe76nsm
— Wall Street Silver (@WallStreetSilv) March 11, 2024
The Liberal Wishlist: Biden’s budget reads like a liberal dream, boasting around $2 trillion in fresh spending, featuring:
– $258 billion for constructing low-income housing
– $61.4 billion to bolster Ukraine
– $10,000 tax credits for home sellers
– Funding for a 50,000-person youth “ClimateCorps”
– A bump in the child tax credit
– Tax reductions for low and middle-income families
Taxing Matters: The proposed budget eyes an uptick in the corporate tax rate, soaring from 21% to 28%. Billionaires face a minimum 25% tax on all earnings, including capital gains. Senator John Cornyn warns that Biden’s “MASSIVE new taxes on job creators” will undoubtedly hike prices, putting more strain on families.
Economic Pulse Check: According to a recent Financial Times poll, a staggering 67% of voters view the economy under Biden as negative.
Reality Check: Biden’s budget is merely a pitch. The onus falls on Congress to hammer out the federal budget. However, the presidential proposal is a customary maneuver, signaling priorities and applying political pressure on the legislative branch.
In conclusion, Fox Business analyst Charles Payne delivers the final verdict on Biden’s budget, asserting, “This is a budget that says ‘We don’t believe in what America was built on: capitalism.'”
Joe Biden is asking for $7,300,000,000,000 in new spending! 👀 🤯 @cvpayne points out that the federal budget has gone up 44 PERCENT since the pandemic!!!
Who is going to pay for all of this?!
Biden’s America is financially collapsing us! pic.twitter.com/QhGDMYIhEI
— Steve 🇺🇸 (@SteveLovesAmmo) March 11, 2024
[Source: AP News, Fox News, Axios, Epoch Times, ATR]
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