Biden recently tweeted he was “building a better” America. His administration claims we are better off than when Donald Trump was in the White House.
I guess they are not watching the financial news. The economy is getting worse and worse. Inflation is not getting better. Taxes are sky-high. And the broken supply chain means prices are out of control.
But that’s just the tip of this deadly iceberg. As Joe sleeps at the wheel, the national debt hits a new–horrible–record.
From The Washington Examiner:
The national debt of the United States blew past $31 trillion for the first time ever Tuesday, a grim milestone that comes amid soaring interest rates that threaten to strain the government’s finances.
It comes just nine months after the last milestone of $30 trillion, according to the Committee for a Responsible Federal Budget, and only five years after reaching $20 trillion.
Just five years ago, the national debt was $20 trillion. It jumped to $31 trillion, with Biden in office.
This news is made even worse when you realize the IRS brought in a record haul this year.
From CNS News:
The federal government collected a record $4,408,452,000,000 in total taxes in the first eleven months of fiscal 2022 (October through August), according to the Monthly Treasury Statement.
Despite bringing that much money (which is growing with every year), the government is not paying off this massive debt.
Meanwhile, Joe the idiot is burning through cash, giving billions to Ukraine, canceling $500 billion in student loans, and promising to expand government welfare programs.
Where is the money coming from? Nowhere, obviously. Biden keeps adding to our national debt. But debtors come a ‘calling eventually. A family can’t keep maxing out credit cards before the repo man shows up at their door.
And America can’t keep adding to the deficit before the whole house of cards topples. We are seeing signs of a struggling economy all around us. Biden continues to ignore the signs, but they are everywhere.
From Yahoo Finance:
US mortgage rates jumped to a 16-year high of 6.75%, marking the seventh-straight weekly increase and spurring the worst slump in home loan applications since the depths of the pandemic.
Anyone that knows our history can tell you that the first sign of a recession (and a depression) is a collapsing housing market.
That happened in 2008–and it’s happening again.
Yet Biden and the liberal media pretend everything’s okay.
- The national debt has soared to $31 trillion under Joe Biden.
- This is even after the IRS brought in $4.4 trillion this year.
- S. mortgage rates continue to climb, reaching a 16-year high of 6.75%.