According to a report released by the Congressional Budget Office, the Biden Administration has spent over $1 trillion in just seven months. The country's budget deficit has increased by $568 billion over the previous year. This alarming rise in debt is no surprise to conservative groups, who warned against the Democrats' plan to spend more.
The federal budget deficit was $928 billion in the first seven months of fiscal year 2023, CBO estimates—$568 billion more than the shortfall recorded during the same period last year. https://t.co/EOYXhMfM01
— U.S. CBO (@USCBO) May 8, 2023
The radical agenda of Joe Biden has created an alarming economic crisis in the US. Republican senators have stated that they will not support raising the country's debt ceiling unless there are reforms and significant spending reductions. Unfortunately, despite their concerns, many Democrats are still planning on bankrupting the country with their own irresponsible spending.
With most Republican senators opposing the Democrats, it's clear that there will be a Republican filibuster when the Senate tries to pass legislation to increase the debt ceiling. Mike Lee of Utah noted that 41 senators are not willing to bring the debate to a close. This means that the Democrats will not be able to pass any legislation aimed at raising the debt ceiling anytime soon.
The policies of the Democrats have been a total disaster, and their approval ratings are showing this. According to a recent survey, over half of Americans think that former President Trump did a better job handling the economy than Biden.
It's time for Democrats to realize that their economic policies are causing the country to go bankrupt. Instead of blaming others for their own economic mess, they should focus on putting the interests of Americans first.
Source: The Daily Caller