On Sunday, Newsmax reported that the spending cuts proposed by the Trump administration have been withdrawn by the Biden administration. Elections have consequences. One of the consequences of the 2020 election will be the bankrupting of America.

The article reports:

Under the 1974 Budget and Impoundment Control Act, the president can request that Congress rescind budget authority that it had previously approved.

The cuts, known as rescissions, totaled $27.4 billion, according to a Jan. 14 letter to Congress from the Trump White House. The proposed cuts had come after Trump grew frustrated with some of the spending included in a December spending bill.

“I will sign the Omnibus and Covid package with a strong message that makes clear to Congress that wasteful items need to be removed,” Trump said in a statement as he signed the bill into law in late December. “I will send back to Congress a redlined version, item by item, accompanied by the formal rescission request to Congress insisting that those funds be removed from the bill.”

Hold on to your wallets.