Joe Biden’s Path Towards Fiscal Doom

President Trump approved $900 billion in stimulus spending in December and President Biden approved another $1.9 trillion in March. Biden is set to propose a further $3 trillion on infrastructure, and Majority Leader Chuck Schumer is exploring ways to bend Senate rules to keep the spending flowing.
This gusher of spending is greatly damaging. This is not monopoly money, but rather it represents real resources that will be confiscated from people when the bills come due. E
Even without an infrastructure package, the federal government will spend $6.8 trillion this year, or double the $3.4 trillion the government will collect in tax revenues. That means …

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www.19fortyfive.com/2021/03/joe-biden-could-set-america-on-a-fiscal-path-of-doom/

‘No SALT, no deal’: Pelosi has little room to spare after Democrats demand tax break for wealthy

Three Democratic lawmakers have drawn a line in the sand for President Joe Biden, demanding that the full deduction for state and local taxes paid be reinstated as part of fiscal legislation.
Reps. Bill Pascrell and Josh Gottheimer of New Jersey and Rep. Tom Suozzi of New York have said they will not vote for any proposed changes to the tax code unless the deduction, which is known as the “SALT” deduction and largely benefits …

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www.washingtonexaminer.com/news/no-salt-no-deal-pelosi-democrats-demand-biden-tax-plan

 

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