Hazel Pei Ting

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ASSESSING BIDEN’S LATEST BUDGET THROUGH A HOUSEHOLD BUDGET LENS (The Daily Signal)

President Joe Biden’s latest budget proposes the federal government spend trillions more than it will take in, increasing the already unsustainable federal debt by $17 trillion over the next 10 years.

But these 13- and 14-figure dollar amounts have little meaning for ordinary Americans whose income, spending, and debt are typically in the five- and six-figure amounts. Translating Biden’s budget down to the household level provides a better perspective—albeit a grim one.

His proposal has the government spending $7.3 trillion in 2025, rising to $10.3 trillion in 2034, with the federal debt climbing from $37 trillion to $54 trillion, even after accounting for $1.4 trillion in tax increases on the “wealthy Americans and big corporations.”

To break this down to the household level, we begin by looking at the median household income, which was an estimated $77,750 in 2023. (Note: The author’s estimate is based on 2022 median household income, increased by median earnings growth in 2023). If the median household budgeted like the federal government, they would have spent over $107,000 in 2023 and taken on nearly $30,000 in new debt, increasing their total debt to about $579,000.

Full article:
https://t.co/BGBZnl9Yn3

[Hazel Pei Ting @hazelpeiting]

@AffynOfficial Amazing trailer 🥰😍💕

[Hazel Pei Ting @hazelpeiting]

@AffynNexus Fleur 🌸💕

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✦A Love Poem to Skadi✦ Event Trailer

On 1/1, travel abroad and weave a poem of love together.

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"This dance with you tonight...
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[Hazel Pei Ting @hazelpeiting]

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[Hazel Pei Ting @hazelpeiting]

Been a long time since I've updated my page- MERRY CHRISTMAS LOVELIES!!! How are you guise celebrating xmas... http://t.co/1QowCrzv20

[Hazel Pei Ting @hazelpeiting]

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[Hazel Pei Ting @hazelpeiting]

Another beautiful place that I would love to travel to: Turquoise Ice, Lake Baikal, Russia~ Lake Baikal is the... http://t.co/XCNdL99w0T

[Hazel Pei Ting @hazelpeiting]

Anyone wanna go to this beach with me? c: It's named the Sea of Stars and its at Vaadhoo Island, Maldives... http://t.co/NAyTrhumBH

[Hazel Pei Ting @hazelpeiting]

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[Hazel Pei Ting @hazelpeiting]

Official Gtalk session tonight from 9-10pm, feeling down and sad lately...Come say hi and talk with me? (_... http://t.co/xL4CCJEsvj

[Hazel Pei Ting @hazelpeiting]

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[Hazel Pei Ting @hazelpeiting]

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[Hazel Pei Ting @hazelpeiting]

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[Hazel Pei Ting @hazelpeiting]

Official Gtalk session later from 9-10pm~! Would you be there tonight to say hi? ♡｡.(✿ฺ｡ ✿ฺ)

xoxo,
Ⓗazel♡̷ http://t.co/PEtHmZA4NL

[Hazel Pei Ting @hazelpeiting]

Having an official Gtalk session tonight from 8-10pm!!（´・ω・｀）じゃあまたね See you darlings later? ♡... http://t.co/5y1rz3TMBK

[Hazel Pei Ting @hazelpeiting]

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[Hazel Pei Ting @hazelpeiting]

HELLO MAH BELOVED NUTTIES ♡ Revealing the 4 winners of my Birthday week giveaway event v(≧∇≦v) Thank you to each... http://t.co/Gk5nh8xSIA

[Hazel Pei Ting @hazelpeiting]

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