President Biden gave a wonderful press conference this morning. He took questions on the big reckless spending and taxing, big government, socialist Bernie Sanders bill. One of the wonderful assertions by the President was that the debt ceiling is about past spending — on which he blamed Donald Trump — but not about future spending.

Actually, that’s totally, utterly, completely, irredeemably, inherently and, in point of fact, incorrect. It’s a piece of disinformation that could mark a new low in presidential fibs.

I won’t call them lies, because he’s the President. So I’ll just say it’s a fib. In the “fib market,” Mr. Biden is, after this morning, a stock looking for a bottom.

Then again, too, the debt limit debate is about future spending. It’s about only future spending. That’s because during the Trump years, the President and the Congress agreed to suspend the debt limit until a few days ago on September 30.

The reason Senator McConnell and the Republicans won’t support the Democrats is because the Democrats won’t say what kind of spending and taxing and debt they are cooking up for the next budget. Emphasis on the “next budget,” as in next year.

Now, I know there’s a circular Democratic firing squad going on right now. I’m just saying if they ever make a deal — Speaker Pelosi’s latest is that they have to have a deal by October 31— then somebody will know what kind of borrowing requirements are necessary for the next year. If the Democrats don’t know, how can the GOP know?

Plus, if the Democrats confess to their reckless spending intentions, the GOP will be right in opposing it and the borrowing that goes with it.

I love it when President Biden blames President Trump for the catastrophic illegal immigration on our southern border. And for the disastrous withdrawal from Afghanistan. And now, on economic policy, where he has been reversing Mr. Trump’s many successes. There’s a pattern here. Wouldn’t you say? Mr. Biden’s the victim. Blame Mr. Trump.

The trouble is, as Mr. Biden’s polls plunge, the public’s not buying it. Inflation has become a problem, the public links big government spending with higher inflation. Therefore the public opposes the Biden-Bernie et al budget. This is not hard. Mr. Trump didn’t invent this reckless budget.

It is illuminating how Mr. Biden has sold out the so-called Democratic moderates, as he did on Friday, when he went up to the House Democratic Caucus and combined infrastructure with budget reconciliation. That was, after all, something he and Mrs. Pelosi had pledged not to do.

Now, Mr. Biden is blaming Senators Manchin and Sinema. So he’s completely eliminated any lingering image of being a moderate himself. Or being a uniter. All of that is gone.

He rattled over that particular Rubicon and is now a charter member of the far-left, progressive caucus. Alea iacta est.

So my mantra remains: Save America. Kill the bill. Kill all the bills. It is, though, going to be one big bill. It’s remarkable, to me at least, why other so-called moderate Democrats haven’t rallied behind Mr. Manchin and Ms. Sinema.

President Biden completely shot down my friend, Democrat Josh Gottheimer, as the President and Mrs. Pelosi took Josh and his moderate pals to the cleaners. The people who want a separate infrastructure vote are Mr. Manchin and Ms. Sinema.

So, why haven’t Josh and his pals rallied to their cause? Josh, my friend, are we going to be a profile in courage — to quote my hero JFK — or are we going to give up our flag and surrender to the far-left? Which is it? I ask because I know you’re a good man.

Finally, of all people, Alexandria Ocasio-Cortez actually got something right. It’s not about the topline number. It’s about the policies under the hood. Here’s where Mr. Manchin and Ms. Sinema are completely and totally right. Transfer programs and entitlements should be strictly means-tested, limited in scope, and limited in time.

And — perhaps the biggest “and” I can imagine — all of these programs should contain workfare. I would add education requirements to workfare requirements. This is where Mr. Manchin and Ms. Sinema have the story completely right. Every sensible person should support them. The far-left won’t.

Nor will the far-left accept the Hyde Amendment, which prohibits federal funding of abortions and has been the nation’s law for 41 years. Mr. Manchin is completely right on this too. I don’t see the left-wing progressives agreeing to any of these policy points.

So Mrs. Pelosi says Halloween is the new deadline. How fitting. Trick or treat!

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From Mr. Kudlow’s broadcast on Fox News.