How to Reduce Debt?

Fiscal Recklessness

To reduce debt, try spending much of this year demanding a debt limit increase from Congress, like President Joe Biden has done. The President’s “titanic falsehood about debt reduction,” accuses James Freeman, is one for the record books.

According to the Biden Treasury Department, total public debt outstanding has increased by nearly $5 trillion since the day Joe Biden took office. In contrast to his bogus claim of reducing debt, It’s more accurate to say that Mr. Biden is the most fiscally reckless president in the history of the United States.

As James Freeman explains, “When the law passed a year ago, the Penn Wharton Budget Model and the Congressional Budget Office were among the many credentialed outfits forecasting that the massive tax-and-spending bill would not provide any meaningful inflation relief.”

But amid surging inflation Democrats figured that “Inflation Reduction Act” sounded good.

Presidential Gobbledygook:

Joe Biden at a fundraiser:

And, for example, we’re in a situation where we’re — and the — about the Medicare prices, but — well, I’m — I’m going to go on too long for you.

But, look, some of my friends on the other team — and I met someone today who said, “I’m a Republican. I’m voting for you. I have a program; I used to be on (inaudible).” And now he said, “I’m — I’m voting for you.” I w- — I didn’t ask why. (Laughter.)

Any rate, during this process, I’ve been able to expand the amount — I made a commitment that one third of all the land and waters of America will be in conservation by the time I left office — one third. It’s about 18 percent now. (Applause.)

But what’s going on is that in the process of doing this, I’m told of all this incredible amount of money we spend. But guess what? I reduced the debt $1 trillion 700 billion — (applause) — more than any president has ever — ever, ever — in American history.

Discombobulate the Public

In the WSJ, James Freeman puzzles over the applause:

According to the Biden Treasury Department, total public debt outstanding has increased by nearly $5 trillion since the day Joe Biden took office.

Many outlets have reported that voters remain deeply unhappy about the economy and remain unconvinced by the Bidenomics spiel.