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Post by bjspokanimal on Jul 6, 2023 19:33:19 GMT -5
More than 30 times, by the count of the Washington Post, a major liberal publication, Joe Biden has claimed that he reduced the 2021/2022 federal deficit by $1.7 Trillion and every time he says it, he's awarded a blizzard of Pinocchios, a reflection of the magnitude of the lie. Lately, they've just characterized the Pinocchios as "bottomless". The liberal publication corrects the Biden lie by pointing out that Biden increased the deficits by $850 billion per year. Just imagine if Joe Manchin and Kristyn Sinena hadn't put the brakes on Biden's and Bernie Sander's monsterous $5.5 Trillion Socialism bill!!
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Post by Blitz on Jul 7, 2023 8:16:27 GMT -5
I’d imagine Paul Volcker interest rates and the national deficit debt’s interest charges being over 50% of the USA’s total national budget.
The Federal Reserve board led by Volcker raised the federal funds rate, which had averaged 11.2% in 1979, to a peak of 20% in June 1981. The prime rate rose to 21.5% in 1981 as well, which helped lead to the 1980–1982 recession, in which the national unemployment rate rose to over 10%.
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