Late Friday night, President Joe Biden sat in the Oval Office to "celebrate" the bipartisan debt ceiling deal between him and House Speaker Kevin McCarthy (R-Calif) that eliminates the potential for an unprecedented government default that he said would have been "catastrophic" for the U.S. and global economies.
However, Biden's "crisis-averted" speech revealed lies he has been telling Americans throughout his presidency.
The president promised Americans that no one making less than $400,000 a year would pay a "penny more in federal taxes."
But that's a lie. Biden already has raised the tax burden on Americans who make as little as $20,000 a year.
He also claimed that he cut the deficit by $1.7 trillion in his first two years as president. However, according to Moody's Analytics, "the actions of the [Biden] administration and Congress have undoubtedly resulted in HIGHER deficits — not smaller ones."
Biden continued to gaslight Americans, saying that he needs to control spending by raising revenue to reduce the deficit. Which, in reality, means massive tax hikes on Americans.
To control spending, the Biden Administration needs to stop sending hundreds of millions of dollars to Ukraine in order to fight a "war" with Russia.
He also touted his effort of warding- off higher spending cuts pushed by Republicans that Biden said would have rolled back his agenda.
Additionally, as he called for the need to reduce spending, Biden seemed to forget that he was the one who increased the national debt by over $30 trillion for the first time in U.S. history.
He also said he has thought about raising taxes on the wealthy—something Republicans have opposed—but admitted it wouldn't get done during this term.
The 99-page bill was agreed upon with just two days to spare until the Treasury Department warned the U.S. wouldn't be able to meet its obligations and default on the country's debt.
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