BY Mike Landry, The Western JournalMarch 28, 2023
1 year ago
BY 
 | March 28, 2023
1 year ago

Masterclass: GOP Senator Forces Biden's Treasury Secretary to Admit the Truth About Boss' Budget

It’s always a delight to listen to Sen. John Kennedy.

Speaking in a folksy, colorfully-illustrated, down-home way, the Louisiana Republican can lull an opponent or someone he’s focusing on into relaxing. But veterans of the Kennedy style know that in his charming, Southern gentlemanly way, Kennedy’s sharp wit can politely take someone apart piece by piece.

Treasury Secretary Janet Yellen got some of the Kennedy treatment last week as she appeared before a Senate Appropriations subcommittee.

Kennedy was aghast at the size of the Biden administration budget and the amount of U.S. debt as he and Yellen discussed federal finances between now and 2033.

“At the end of this year we project -- people a lot smarter than me, probably not than you, but smarter than me -- say that gross debt’s $33 trillion,” Kennedy told Yellen. “They say if the president's budget is implemented by 2033, it'll be $51 trillion. Isn't that a fact?"

Responded Yellen: “If the president's budget is not implemented and none of the changes are made, it will be worse than that.”

“And so the president's budget has improved the fiscal outlook relative to what we would have without the president's proposals,” she continued.

“It raises gross debt from 33 trillion dollars to 51 trillion dollars. You say that's an improvement?” asked an incredulous Kennedy.

[firefly_poll]

“It is an improvement,” Yellen replied, “Because it raises taxes by more, and it leads to ...”

“That includes taxes,” Kennedy interjected. “In what world is that an improvement, other than Washington and la-la land?”

Later, Kennedy went before the full Senate and reviewed his discussions with Yellen. “I always love when Secretary Yellen testifies,” Kennedy told the Senate, “because I learn so much from her.”

He told what he had learned: that the Biden administration’s proposed budget was $6.9 trillion, up from $6.4 trillion, and that the U.S. population had grown 1.8 percent since 2019, but the budget was up 55 percent (although Yellen had countered with a reference to the pandemic).

Kennedy also said he learned ”that the president is proposing $4.7 trillion -- not billion -- 4.7 trillion dollars in new taxes. Takes my breath away -- 4.7 trillion dollars. We’re going to run out of digits.”

Biden is claiming that his proposed budget will decrease the deficit by $3 trillion, according to Kennedy, but the senator said in reality debt would rise from $32.7 trillion this year to $51 trillion by 2033.

“Only in Washington, D.C., only in la-la land, can you go around and say my budget reduces the deficit and debt by 3 trillion dollars when it really increases it by 18 trillion dollars,” he said.

Incidentally, Yellen told Kennedy that the proposed Biden budget has the U.S. public debt at 109 percent of gross domestic product.

A World Bank study indicated a debt-to-GDP ratio above 77 percent over time can lead to economic downturn, according to Investopedia. The U.S. ratio has been at 77 percent since 2009.

That's the news from la-la land.

Thankfully, there’s someone like Sen. Kennedy pushing back on the madness.

This article appeared originally on The Western Journal.

Written by: Mike Landry, The Western Journal

NATIONAL NEWS

SEE ALL

New Jersey Congressman Donald Payne Jr. Dies at 65 After Health Struggles

New Jersey Congressman Donald Payne Jr. has died at the age of 65 after enduring severe health issues, including a heart attack. Representative Donald Payne…
15 hours ago
 • By Staff Writers

Irsa Hirsi Faces Backlash And Legal Actions Over Protest Incident At Columbia

The recent Columbia University incident involving Irsa Hirsi, Congresswoman Ilhan Omar's daughter, has drawn national attention and controversy. During a pro-Palestine demonstration, Hirsi alleged she…
15 hours ago
 • By Staff Writers

President Joe Biden Critiques Trump at Union Conference, Endorsed for 2024

President Joe Biden delivered pointed remarks at a recent union conference, stirring both laughter and politicized commentary. During his speech, President Biden humorously recalled Trump's…
15 hours ago
 • By Staff Writers

Supreme Court Deliberates on State Abortion Limits in Emergency Medical Cases

Washington's highest judicial body, the U.S. Supreme Court, initiated deliberations on a major legal face-off concerning the provision of emergency abortions under strict state laws.…
16 hours ago
 • By Staff Writers

Juvenile Dolphin Found Shot Dead On Louisiana Beach

A juvenile bottlenose dolphin was discovered dead on a Louisiana beach, sparking a federal investigation. The young dolphin's body was riddled with bullets affecting vital…
18 hours ago
 • By Staff Writers

DON'T WAIT.

We publish the objective news, period. If you want the facts, then sign up below and join our movement for objective news:

    LATEST NEWS

    Newsletter

    Get news from American Digest in your inbox.

      By submitting this form, you are consenting to receive marketing emails from: American Digest, 3000 S. Hulen Street, Ste 124 #1064, Fort Worth, TX, 76109, US, http://americandigest.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact.
      Christian News Alerts is a conservative Christian publication. Share our articles to help spread the word.
      © 2024 - CHRISTIAN NEWS ALERTS - ALL RIGHTS RESERVED
      magnifier