• 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
  • AK convenes for new legislative session, faces familiar challenges this year
  • Trump jabs at Hunter Biden skipping congressional deposition: ‘Went to the wrong place’
  • NY Rep. George Santos, who flipped blue seat, says he won’t run for re-election in wake of ethics report
  • Pelosi claims she has ‘respect for whistleblowers’ despite dismissing testimony as ‘ridiculous clown show’
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

Hunter Biden spotted leaving eatery just before Rosie O’Donnell, who...

July 12, 2024

NC House Speaker says ‘zero’ chance final budget becomes law...

August 8, 2023

Arizona Rep. Biggs raises alarm about unattended ports of entry...

June 21, 2023

President Biden calls Republicans ‘fiscally demented’ during MLK Day speech,...

January 17, 2023

Biden has repeatedly told exaggerated house fire story to victims...

August 23, 2023

Iran Attacks Israel: Oil Surges, Markets React, US Supports

October 3, 2024

Dems dismiss ‘worthless’ calls to probe Biden-Ukraine rumors but argue...

June 14, 2023

Amid fentanyl crisis, Biden says Mexican president is asking US...

June 17, 2023

Democrat Sen Warner cedes ‘Trump was right’ on TikTok being...

March 12, 2024

Hertz So Good

November 27, 2022

    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

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025
    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,631 views
    • 2

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

      June 27, 2024 2,919 views
    • 3

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

      August 9, 2024 2,607 views
    • 4

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

      July 10, 2024 2,577 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,451 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Popular Posts

    • 1

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

      June 25, 2024
    • 2

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

      June 27, 2024
    • 3

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

      August 9, 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

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters...

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    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

    State AGs warn Biden AI order...

    February 6, 2024

    RNC delegates in Milwaukee revealed what...

    July 21, 2024

    Prosecutors urge judge to reject Menendez’s...

    December 28, 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