Joe Biden keeps boasting about how well the economy is doing and how much he’s cut the federal budget deficit. But if these things are true how could it be that through last week, the Treasury Dept. borrowed $517 billion in October? That number doesn’t even include the last few days of the month, which ends today.
We can’t verify this, but we suspect that other than during the COVID lockdowns, this was the most the government has ever rung up the credit card in one month. This is double what Treasury borrowed last month and at least $100 billion more than last October.
Biden reminds us of the cartoonish character played by Jim Carey in the movie The Mask, when he exclaims with a sly grin after he’s wreaked all sorts of havoc: “SOMEBODY stop me!”