Bidenomics: Joe Biden Says Latest $700 Billion Green New Deal Spending Spree will “Reduce” Deficit

Joe Biden spoke to reporters on Thursday after the second quarter GDP numbers came in less than expected.

The US economy shrank by 0.9 percent in the second quarter.
The US economy shrank by 1.6 percent in the first quarter of 2022.

The Joe Biden economy is officially in recession.

In response to the news, Joe Biden spoke about the green new deal $700 billion spending plan announced last night.

Senator Joe Manchin surprised Washington DC elites and the mainstream chattering class when he announced his support for the Democrats’ green new deal funded by nearly $700 billion in new tax hikes.

The entire spending package will be funded by new taxes on workers and producers while inflation remains at 40-year highs.

Joe Biden told reporters on Thursday that his green new deal spending plan will “reduce” the deficit.

In fact, Democrats call the mega-spending plan “The inflation reduction act of 2022.”

They say they are going to reduce inflation and the deficit by spending billions more in taxpayer dollars on wasteful green new energy projects and on taxing working Americans.

It’s Bidenomics in action.

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Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards.

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