More propaganda

President Biden gave a speech at Lanham, Maryland on 2/15/2023 where he claimed again that he had cut the national debt $1.7 trillion dollars.

When Biden took office in 2021 the total national debt exceeded $27.7 trillion. At the close of business on 2/15/2023 the total national debt exceeded $31.4 trillion. Thus, during Biden’s presidency the national debt had increased by $3.7 trillion through deficit spending.

Biden’s national debt “cut” is actually a 13.4% increase.

What has been reduced approximately $1.7 trillion is not “debt,” but the federal deficit, which reached an historic high in fiscal 2020—at the start of the COVID-19 panic.

Obviously, Biden and his socialist Democrats don’t know the difference between debt and deficit which are economic/accounting terms. To hear truth would destroy their delusions’, undermining their propaganda.

Simply put, debt is money you owe and a deficit occurs when you spend more than you receive. Deficits never reduce debt; deficits only increase debt.

According to the Presidential Office of Management and Budget (OMB), in fiscal year 2021, the last full fiscal year of President Trump, the deficit (not debt) hit $3.1 trillion. In fiscal year 2022, under Biden, the deficit (excess spending) declined to $1.4 trillion.

Biden puffs that he has cut the national debt by $1.7 trillion when it has actually risen by $3.7 trillion?

Biden and the socialist Democrat congressmen refuse to acknowledge the difference between deficit and debt.

Biden’s OMB reports under his budget the national debt will exceed $44.7 trillion by 2032, and Joe says he won’t negotiate with Republicans. So, what is Joe’s sinister plan?

Gloating that Republicans won’t “…pay the national debt, which took 200 years to accumulate” we wonder will Biden or any socialist Democrat pay the national debt when their plans/budget increase the debt?

Richard Skidmore

Lancaster