A few weeks ago he unilaterally enacted $500 billion in student loan relief using legal justification that we're in a national emergency (COVID)?

🚨Next week, Ways & Means Committee will mark up a bill repealing the WEP + GPO #SocialSecurity provisions.

This would:
➤increase costs by $150 billion,
➤make Social Security insolvent sooner, and
➤worsen inflationary pressures.

Read more: crfb.org/blogs/wepgpo-r….

NEW from Adam Looney The Brookings Institution. Biden's IDR student debt plan will:

➤ Increase borrowing
➤ Subsidize low-quality education
➤ Encourage abuse
➤ Distribute 'arbitrary, unequal, & unfair' benefits
➤ Drive up tuition
➤ Grow deficits

What a mess
brookings.edu/opinions/biden…

Social Security COLA increase may not be as big as expected Seniors League Marc Goldwein CRFB.org Social Security #retirement #COLA
Yahoo Finance money.yahoo.com/for-retirees-e… via @Yahoo

.CRFB.org is my first source for Federal budget analysis.

Committee for a Responsible Federal Budget—Objective. Nonpartisan.
Committed to fiscal responsibility. crfb.org

I just wrote to Congress and told them:

No. More. Debt. Please join me. via CRFB.org p2a.co/ttcjKBU

🚨NEW: The Biden Admin + some in Congress are proposing changes to #Medicare and other health payments costing up to $32 billion and increasing beneficiaries' premiums.

➡️Lawmakers should instead find ways to lower #healthcare spending into the future: crfb.org/blogs/congress….

🗓TODAY @ 2PM: Please join us for a virtual event discussing the status of #SocialSecurity – including a review of the key findings of a Public Consultation survey with remarks by CRFB's Marc Goldwein and UMD Public Policy's Steven Kull.

➡️Learn more and register: crfb.org/events/915-eve….

➡️ Yesterday, U.S. CBO released its estimate of the President's FY 2023 budget. CBO finds that debt + deficits under the President's budget would be lower than what Office of Management and Budget projects – although not accounting for policies enacted since March.

Read more: crfb.org/blogs/cbo-rele….

The White House's claims about their fiscal record are just not accurate. They have added A LOT to the debt. As did President Trump's administration. washingtonpost.com/opinions/2022/…

Biden admin needs to stop saying they cut the deficit or that student loan cancellation is “paid for.” In addition to adding to national debt, all this deficit spending puts upward pressure on interest rates at exactly the wrong time. cc: @budgethawks

The #InflationReductionAct resulted in $240 billion of deficit reduction through 2031.

However, the overall effect of President Biden's legislative + executive actions has added $𝟰.𝟴 𝘁𝗿𝗶𝗹𝗹𝗶𝗼𝗻 to ten-year deficits – nearly $2.5 trillion excluding ARP.

➡️crfb.org/blogs/biden-ad….

My piece in this morning's Washington Post Opinions.

The The White House has been trying to paint President Biden as the champion of prudent economic stewardship... but the Administration's record is, sadly, the opposite of what it argues: washingtonpost.com/opinions/2022/…

President Biden has added $𝟒.𝟖 𝐭𝐫𝐢𝐥𝐥𝐢𝐨𝐧 to the deficits, including from:
➤ American Rescue Plan ($1.85t)
➤ Student debt relief ($750b)
➤ Bipartisan Infrastructure Law ($370b)
➤ Other laws ($800n)
➤ Other executive actions ($360b)
➤ Interest ($700b)

📈With #inflation still persistent in the economy, we need fiscally responsible policies to reduce deficits and achieve sustainability.

➡️Adding $4.8 trillion in borrowing over the next decade, rather than paying down debt, does exactly the opposite: crfb.org/blogs/biden-ad….

🚨 WOW🚨 - President Biden has approved $𝟒.𝟖 𝐭𝐫𝐢𝐥𝐥𝐢𝐨𝐧 of borrowing from laws and executive actions. That's even with the IRA deficit reduction!

crfb.org/blogs/biden-ad…