CLAIM: President Joe Biden claimed in Thursday’s State of the Union address that he has “reduced the federal deficit by more than $1 trillion.”
Verdict: Misleading. Biden is only evaluating his own deficit reduction relative to his own deficit spending.
biden Said In his speech:
I have achieved real results in a fiscally responsible manner.
I have already reduced the federal deficit by more than $1 trillion.
I signed a bipartisan budget agreement that cuts an additional $1 trillion over the next 10 years.
And now, my goal is to reduce the federal deficit by an additional $3 trillion by making big corporations and the very wealthy finally pay their fair share.
In 2021, which will be Biden’s first fiscal deficit year, was 2.75 trillion dollars. The next year was 1.375 trillion dollars in 2022, and 1.695 trillion dollars in 2023.
As Breitbart News previously explained, it’s true that the budget deficit has declined in Biden’s first year in office, but this is largely due to an end to coronavirus pandemic-era stimulus spending and an increase in government revenue. It is something.
“2022 CBO Report” found He said the significant decrease in the federal deficit was primarily due to increased government revenue in all categories, especially personal income taxes. “The CBO also detailed how coronavirus-era spending has declined, including coronavirus aid, stimulus checks, and small business loans,” Breitbart News wrote.
washington post Fact checker Glenn Kessler gave Biden the “Three Pinocchios” when honoring the 46th president’s accomplishments. reduce deficit:
Biden cites actual deficit reduction numbers, but he does so in a way that misleads his audience.
The president omits important context. The budget deficit was supposed to shrink as the massive spending caused by the pandemic subsides.
Maya McGuineas, chair of the Committee for a Responsible Federal Budget, said in 2023 that “the White House is deliberately distorting the facts to tell a story that is completely different from a fair and accurate story.”
Sean Moran is a policy reporter at Breitbart News. Follow him on Twitter @SeanMoran3.
