Reality Reversal: Biden reduced deficit $350B, CBO expected $870B reduction. Top priority inflation



On 5/9/2022, at a White House Rose Garden speech, President Joe Biden had to be instructed where to stand, during his remarks at the White House Rose Garden on. Joe Biden announced a partnership with internet providers to lower internet costs for millions of low-income Americans. The US is seeing its highest inflation rate in 40 years with no end in sight. The current Bidenflation rate is 8.5%, but Joe Biden says his top priority is fighting inflation.

At his speech, Joe Biden celebrates all the members of congress who made this happy … Joe Biden twice mispronounces Rep. Cheri bustos’ name despite it written right in front of him. Jen Psaki claims Biden takes press questions nearly every day.

Biden lowered the Deficit “Bizarro World”, even CNN is fact checking Biden’s claim: Marc Goldwein, senior VP at the Committee for a Responsible Federal Budget, an organization that advocates deficit reduction, said in an interview that Biden’s claims about having personally reduced the deficit are “almost bizarro world,” a reversal of reality. Biden said, “Let me remind you again: I reduced the federal deficit .. I’ve reduced it $350 billion in my first year in office. And we’re on track to reduce it, by the end of September, by another 1 trillion, 500 billion dollars – the largest drop ever.” A $360 billion decline is certainly substantial. The Congressional Budget Office, however, had estimated at the beginning of Biden’s tenure that the fiscal 2021 deficit would be a decline of more than $870 billion if the Biden administration did not implement new policy. Marc Goldwein, senior vice president at the Committee for a Responsible Federal Budget, an organization that advocates deficit reduction, said in an interview that Biden’s claims about having personally reduced the deficit are “almost bizarro world,” a reversal of reality. The deficit would have fallen by much more “had President Biden come to office and not done anything,” he said.

Even Biden’s favorite economics firm, Moody’s, says Biden’s actions have increased deficits. The deficit has been bigger under the Biden administration than the nonpartisan federal Congressional Budget Office had projected it would be if the Biden-era federal government stuck with the laws that were in effect when Trump left office in early 2021. “The actions of the administration and Congress have undoubtedly resulted in higher deficits, not smaller ones,” Dan White, senior director at Moody’s Analytics – an economic research firm whose analysis Biden has repeatedly touted in his speeches – said in an email. “It is encouraging that the administration has proposed some initiatives to bring down the deficit, but so far none of those initiatives has been seriously considered.”

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Reversal of reality: Biden reduced deficit $350B, CBO expected $870B reduction. Top priority is fighting inflation.

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