• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Sen. John Kennedy says the only way to improve Biden’s budget ‘is with a shredder’
Economy

Sen. John Kennedy says the only way to improve Biden’s budget ‘is with a shredder’

by March 13, 2023
by March 13, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Sen. John Kennedy, R-La., said Sunday that President Biden’s nearly $7 trillion budget proposal took his ‘breath away’ and belongs in the ‘shredder’ rather than saddling the American taxpayer.

‘The president’s budget took my breath away,’ Kennedy told ‘Fox News Sunday.’

‘His numbers are extraordinary,’ he said. ‘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.’

Biden unveiled his proposed budget for fiscal year 2024 on Thursday, and some projections say it would result in almost $5 trillion in tax hikes on corporations and wealthy Americans and lead to increased costs for everyone. 

The Committee for a Responsible Federal Budget warns the budget would result in the country’s debt rising from 98% of GDP at the end of 2023 to 106% by 2027 and then 110% by 2033.

According to their analysis, despite some attempts at deficit reduction, nominal debt would nearly double, growing from $24.6 trillion to $43.6 trillion over the next decade.

‘The only way I know how to improve the president’s budget is with a shredder,’ Kennedy said Sunday.

‘The president says that his budget will solve our financial problems in Medicare and Social Security,’ he said. ‘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.’

‘If you want to talk savings, well, stop sending checks to dead people,’ he said. ‘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.’

The White House did not immediately respond to Fox News Digital’s request for comment.

Fox News’ Elizabeth Elkind and Lawrence Richard contributed to this report.

Jessica Chasmar is a digital writer on the politics team for Fox News and Fox Business. Story tips can be sent to Jessica.Chasmar@fox.com.

This post appeared first on FOX NEWS
You Might Also Like
  • Biden admin takes aim at hunters in latest regulation: ‘Preventing Americans from hunting’
  • Eric Adams slams Biden for not meeting, ignoring migrant crisis on NYC visit: ‘Everybody knows where I am’
  • House Democrats refuse to say whether they believe abortion should be permitted up until birth
  • Trump camp says Harris-Walz ‘dangerously liberal’ ticket is ‘every American’s nightmare’
Share
0
FacebookTwitterPinterestWhatsapp

previous post
GOP presidential candidates react to Silicon Valley Bank collapse; Trump blames ‘out-of-control Democrats’
next post
Pence says ‘Trump was wrong’ for Jan 6 handling, ‘history will hold’ him ‘accountable’

You may also like

Gorsuch and Sotomayor’s clash in gay wedding opinion follows previous...

July 2, 2023

Seattle official will not resign after yelling at Marine veteran...

May 23, 2023

The Malthusian Contradiction

December 5, 2022

Hunter Biden wants gun and tax cases tossed, citing Trump...

July 19, 2024

Spare a Thought for Bubble Wrap

December 29, 2022

Biden admin to hold migrants’ ‘credible fear’ screenings in CBP...

April 9, 2023

Hunter Biden files to dismiss indictment on gun charges in...

December 12, 2023

Missouri proposals may put abortion back on ballot

March 10, 2023

Retired rear admiral praises Secret Service’s cocaine investigation despite not...

July 17, 2023

GOP 2024 contender blasts Biden on oil and gas production;...

June 29, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past...

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    FBI willing to allow all House...

    June 8, 2023

    Democrats bleeding the non-white, working-class vote,...

    December 10, 2023

    Trump expected to visit Capitol Hill...

    October 6, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here