There’s a new report out by the Congressional Budget Office with an updated projection of the federal deficit for the 2024 fiscal year—in February, the office calculated we as a nation would be an additional $1.5 trillion in the red, but now that number has jumped 27% to $1.9 trillion, or a additional $400 billion.

The CBO report identified several factors impacting this increase, with Cadaver Joe’s vote-buying student loan “forgiveness” scheme accounting for the “largest” portion of it. Here are the details, from a CNN report:

Most of the spike in the fiscal 2024 deficit stems from four factors that are expected to boost projected spending. The largest is a $145 billion increase due to changes the Biden administration made to student loan repayment plans and a new, proposed forgiveness program that would waive some accrued interest for millions of borrowers. The latter has yet to be finalized but could take effect as soon as this fall.

According to Robert Schmad at The Daily Caller though, the CBO projection is based on only half of the actual anticipated cost, because this phase of the “forgiveness” scheme has yet to be finalized, and if it’s permitted to materialize entirely, the deficit will jump another $66 billion:

To account for Biden’s April proposal to forgive student loan debt, the CBO incorporated $66 billion worth of costs into its projection, half of the estimated $132 billion cost of the program. The CBO only used half the cost of the program to control for the possibility of the rule providing debt forgiveness not being finalized. If the Biden administration succeeds in finalizing the rule, the CBO’s projection will increase by another $66 billion.

Are you interested in seeing who you’ve already sponsored?

Just got a call to let me know my student debt has been canceled. This is why elections matter. Thanks @JoeBiden. pic.twitter.com/VXysu5lucf

— Ben Kamens (@BeeKamens) June 19, 2024

The kid apparently works on Capitol Hill, but seeing as he doxxed himself, I went and looked up his home address—which is no doubt his parent’s home—and he doesn’t exactly come from a destitute background, but a nearly $600,000 family residence in a gated community outside of Philadelphia. (So glad I wake up at 4 a.m. every day to work so I can help this poor, pitiful college graduate pay his bills!)

And “they” try pretending that the U.S. doesn’t have taxpayer-funded elections! All this student loan debt transfer, from borrower to us, is a sleazy and criminal maneuver to elicit political support—pretty sure that equates to making the taxpayer fund Biden’s reelection campaign.

Schmad also highlighted another “factor” pointed out by the CBO, one which CNN failed to address, and that is Volodomyr Zelensky’s allowance, which accounted for the largest chunk ($61 billion) of the recent “foreign aid” deficit spending:

The CBO notes that the $95 billion in aid to Ukraine, Israel and countries in the Indo-Pacific region had to be incorporated in their projections after Biden signed the legislation, adding to the deficit.

Here’s the real kicker of the report though:

The number of people entering the United States in the Congressional Budget Office’s category of ‘other foreign nationals’ has surged in recent years, exceeding the roughly 200,000 people per year that CBO would expect on the basis of historical experience. In CBO’s estimates, net immigration of people in that category is 8.7 million greater over the 2021–2026 period than it would have been if net immigration had remained at its otherwise expected level. Much uncertainty surrounds those projections. 

Translation: What is no doubt the greatest factor in an exploding deficit is the cost of the dissolved border and illegal invasion, but the CBO admitted quantifying it was not accurate because the number of invaders is so far beyond what the historic reality has always been. Over a five-year period, based on the traditional figure of 200k illegals per year, you’d use 1 million in your calculations, yet the CBO thinks that five-year number is actually closer to 8.7 million—this is a 770% increase. However, we’re reminded that the CBO is still a government office full of grossly left bureaucrats as the report asserts this “surge” of third world terrorists sucking up our welfare, housing, medical care, and emergency services will help lower the deficit.

You did it Joe, well done!

Image: Free image, Pixabay license.