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Biden's $5.8 Trillion Budget
00:04:12
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| Hello everybody and thank you for tuning in to the weekly report. | |
| Biden's big government centrism. | |
| President Biden's $5.8 trillion fiscal year 2023 budget increases discretionary spending to $1.6 trillion. | |
| The remaining $4.2 trillion of spending consists of mandatory spending, including on Social Security, Medicare, and interest on the national debt. | |
| The discretionary spending is divided between $813 billion for defense and $769 billion for the rest. | |
| Since Biden's budget increases military spending and does not call for major new government programs, some have described it as centrist, calling a $5.8 trillion tax and spend monstrosity centrist. | |
| Shows how far the center of American politics is from the principles of limited government. | |
| Little of Biden's proposed defense budget will be spent to defend the American people, although it will defend the ability of defense contractors, lobbyists, and war party propagandists to continue littering North Virginia with MacMansions. | |
| Biden wants to spend yet more to continue the U.S. counterproductive intervention in Ukraine, as well as on NATO and other programs aimed to challenging Russia. | |
| And Biden's budget also proposes spending at $1.8 billion to support free and open, connected, secure, and resilient Indo-Pacific region and another $400 million for countering the People's Republic of China's malign influence fund. | |
| How would Biden react if China started spending money to challenge the U.S. influence in the Western Hemisphere? | |
| Biden's budget spends $33.2 billion to support law enforcement. | |
| Federal spending on local law enforcement violates the 10th Amendment and takes a step toward nationalizing the police. | |
| A national police force would be a grave danger to liberty. | |
| Biden also proposes $1.7 billion on the Bureau of Alcohol, Tobacco, Firearms, and Explosives so it can, among other activities, crack down on gun trafficking. | |
| A crackdown on gun trafficking allows the agency to harass gun owners and firearms dealers. | |
| Biden's centrist budget also provides funding to crack down on hate crimes. | |
| Criminalizing thoughts has no place in a free society. | |
| Biden claims he has reduced spending. | |
| However, the only reason spending is down is because Congress has stopped passing multi-trillion dollar COVID relief bills. | |
| Biden's budget proposes reducing the deficit by raising taxes. | |
| Among Biden's tax proposals is a new 20% tax. | |
| Biden's billionaire tax breaks new grounds in theft by taxing unrealized capital gains. | |
| In other words, taxing income that taxpayers did not actually receive. | |
| Biden's budget estimates an increase in the federal debt of $44.8 trillion in 10 years. | |
| Of course, the final spending bill approves by Congress will likely spend more on welfare and warfare than Biden is proposing. | |
| The spending will force the Federal Reserve to keep interest rates low, further eroding the dollar's purchasing power and thus increasing demand for welfare and yet more government spending. | |
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Funding Welfare Warfare
00:00:49
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| America may soon pay the price for attempting to fund a massive welfare warfare state with fiat currency. | |
| America's ham-fisted intervention in the Ukraine with Russia conflict has caused more countries to seek alternatives to the dollar. | |
| This increases pressure for the dollar to lose its World Reserve currency status. | |
| When that happens, the U.S. will face a major economic crisis featuring hyperinflation, massive unemployment, and the growth of authoritarian political movements. | |
| The only way these problems can be avoided is if the people demand the federal government stop trying to run their lives, run the economy, and run the world. | |