Source: Reason
by Eric Boehm
“It’s true that the Biden administration made poor fiscal decisions. In that regard, it has a lot in common with the first Trump administration — which added nearly $8 trillion to the national debt in just four years — and the Obama and Bush administrations before it. As Moody’s pointed out in its statement about the rating change, the federal government’s worsening fiscal condition is the result of multiple presidential administrations and congresses. Still, that’s not a very good reason for making a bad situation worse, which is what the tax bill is likely to do. Blaming Biden for the obvious, negative fiscal consequences of a bill that Trump and his Republican allies are trying to pass makes no sense at all.” (05/19/25)