The Republican Senator from Louisiana, John Kennedy, stated on Sunday that President Joe Biden’s budget, which is around $7 trillion, took his “breath away” and should be in a “shredder” instead of burdening the American Taxpayers.
Kennedy stated:
“The president’s budget took my breath away.”
He added:
“His numbers are extraordinary. We’re going to run out of digits here. It’s a $6.9 trillion budget, $4.7 trillion in new taxes that will affect everyone over 10 years, $18 trillion in new debt, a cut to defense.”
On Thursday last week, Biden revealed his budget for the year 2024.
Some predictions state that this budget would end up with $5 trillion in tax increase on wealthy Americans and corporations and will also be increasing costs for all Americans.
The Committee for a Responsible Federal Budget indicates that the budget has the potential to increase the country’s debts from 98% of the GDP by the end of 2023 to 106% by 2027 and then 110% by 2033.
Their research concludes that even with a few shots at debt lowering, petty debt would double, and increase from $24.6 trillion to $43.6 trillion by the next 10 years.
Kennedy stated this weekend:
“The only way I know how to improve the president’s budget is with a shredder.”
He added:
“The president says that his budget will solve our financial problems in Medicare and Social Security. That’s not true. Anything seems possible when you don’t know what you’re talking about. The Wall Street Journal just reported that the president’s budget will add $11 trillion in a financial shortfall to Social Security and Medicare.”
He continued:
“If you want to talk savings, well, stop sending checks to dead people. We spend about a billion to 2 billion every year to send money to dead people, the checks are being cashed. It’s obviously fraud. The president’s plan to have the American people pay for student debt costs $400 billion over 10 years, we already had a plan to repay student debt, it’s called a job.”
