Recommendable! The insanity and unsoundness of the latest federal budget proposal by the cognitively impaired 46th president is inescapable!
Yes, where are today's deficit hawks? We urgently need them back!
"There was once a species of raptor in Washington, D.C., known as the Deficit Hawk. These sharp-eyed creatures were known for decrying the budget deficits even as they became perennial features of the federal government's budget. They insisted, often to the loud applause of the mainstream media, that spending more than a government collects in taxes is unsustainable and the path to ruin. Concern over the size of the deficit was one of the fuels that sustained the Tea Party and Capitol Hill Republicans in the Obama years. ...
The Deficit Hawks have largely gone extinct, although there are reports that a few still live in captivity in the U.S. Senate and the Center for a Responsible Budget. ...
But the presentation of President Biden's budget on Friday was a reminder that the Deficit Hawks filled an important niche in the ecology of the nation's capital. Biden's budget proposes to keep budget deficits above five percent of gross domestic product through 2026, two years after his term is scheduled to end. That would make Scranton's favorite son the first president never to preside over a budget deficit below five percent of GDP. Ronald Reagan had a single year, as did George Bush. Barack Obama had a few on the heels of the financial crisis. Trump had one, last year, as the country was hurled into crisis by the pandemic. Before that, you have to go all the way back to FDR to find years of consecutive deficits that high in relation to the size of the economy."
The Deficit Hawks have largely gone extinct, although there are reports that a few still live in captivity in the U.S. Senate and the Center for a Responsible Budget. ...
But the presentation of President Biden's budget on Friday was a reminder that the Deficit Hawks filled an important niche in the ecology of the nation's capital. Biden's budget proposes to keep budget deficits above five percent of gross domestic product through 2026, two years after his term is scheduled to end. That would make Scranton's favorite son the first president never to preside over a budget deficit below five percent of GDP. Ronald Reagan had a single year, as did George Bush. Barack Obama had a few on the heels of the financial crisis. Trump had one, last year, as the country was hurled into crisis by the pandemic. Before that, you have to go all the way back to FDR to find years of consecutive deficits that high in relation to the size of the economy."
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