This week President Biden unveiled his Fiscal Year 2023 (FY23) budget — nearly two months after he was legally required to do so. Under President Biden, Missourians are finding it more difficult and more expensive to put food on their tables, gas in their cars, and clothes on their backs.
None of this is happening by accident. Whether it is the inflation crisis, energy crisis, border crisis, a supply chain crisis, crime crisis, education crisis or others, all are the direct result of the policies President Biden has pursued – all rubber stamped by the one-party Washington Democrat rule in Congress. This budget submission from the President shows he has learned nothing over the past year – nothing about how his policies have failed working-class Americans – and he intends to double down on those very same policies. The President’s 2023 budget deliberately makes every crisis he created worse.
While American families are facing a $5,200 yearly inflation tax in 2022 – having just paid a $3,500 inflation tax in 2021 – the President intends to spend $73 trillion over the next 10 years, growing government spending by $8 trillion more than the Congressional Budget Office predicted for the same period and further fueling the inflation fire that is causing prices to spike and burning up wages. His budget hits American families and job creators with $58 trillion in taxes, including a nearly $1 trillion tax increase on families and socking job creators trying to recover from failed COVID policies with a $1.5 trillion tax hike as well. With our debt crisis having crossed $30 trillion, Joe Biden told Americans that he was going to get serious about tackling trillion-dollar yearly deficits, but the reality is his budget grows America’s debt an additional $16 trillion by 2032.