Re “Biden signs $1.7 trillion bill funding government operations” (Dec. 29): Joe Biden and his accomplices in Congress gifted taxpaying American families a shameful lump of coal for Christmas, some $20,000 in additional debt per household.
Already saddled with Biden’s historic inflation, Congress found the spending dumpster and (again) lit it afire.
Craig A. Nelson
Solana Beach
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The U-T welcomes and encourages community dialogue on important public matters.
This explanation of spending approved by Congress covers many key features. Missing, however, is deficit information.
The U.S. Treasury website shows that fiscal year 2022 had $6.27 trillion spent and $4.90 trillion in revenue for a $1.38 trillion deficit, which raised the national debt to $30.9 trillion. This one sentence is incredibly relevant. With this $1.7 trillion initial installment added to the $816.7 billion defense spending bill signed last week by President Biden how large might the 2023 deficit be?
As we wonder about the causes of the current 40-year high inflation, those federal deficits deserve attention. Dollars the government spends without corresponding revenue or productivity directly dilute the value of dollars in circulation. That dilution defines inflation.
Raymond Roth
Oceanside
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