Q: $1.7T reduction? CBO says deficit actually will increase! A: I get argument shouldn’t take credit
On 5/30/2023, a reporter asked, “But, quickly, most of that $1.7 trillion that went off in the first two years was COVID spending that ran off. And the CBO says the deficit actually will increase next year. It’s 1.7. It was 1.4 this year, 1.7 next year, and then up to 2-point-something by — in 10 years.”

MS. YOUNG: … I get the argument: You didn’t need COVID spending anymore, so you shouldn’t take credit for deficit reduction. Well, he got it under control. He used the tools Congress gave him in the American Rescue Plan

Biden OMB Dir Shalanda Young: Now Democrats “Need To Make Headway” In Raising Taxes On Americans
Young said, “where we really need to make headway is on our revenue proposals, which has long-lasting deficit reduction abilities and just structural change to change the unfairness in the tax system.”

Q: debt ceiling deal help bring down inflation? A: inflation is moderating, defaulted is worse
Reporter: So, taking a larger view at this: Should the debt ceiling deal get signed, will it help bring down inflation over the next 12 months?

MS. YOUNG: … we risk overturning — the gains we’ve made in inflation — is not low enough, but it is moderating. And my fear was even if we got closer and certainly defaulted, we would have been in a situation where we lost jobs and lost the gains we’ve made in tackling inflation.

Q: never negotiate on debt ceiling? A: You can call it a negotiation; I call it a statement
Reporter: It seems to me, in the context of these negotiations, that the White House has been clinging to a fiction, which is that this deal only was negotiated on the basis of the federal discretionary spending and that the President, who promised all along that he would never negotiate on the debt ceiling, didn’t do so in these negotiations. That’s false, right? The President and his team, you included, did negotiate on the actual debt ceiling itself and not just the federal discretionary spending. Correct?

MS. YOUNG: … I’m not sure what you call a negotiation, but it was certainly a declarative statement from this side of the table. maybe you call that negotiating; I call that a statement of fact and a statement we weren’t leaving the room with. So I’m not quite sure I would call that negotiating. The debt ceiling had to be lifted, and it had to be lifted for a long period of time. You see this bill lift the debt ceiling until 2025. You can call it a negotiation; I call it a declarative statement. And that was our position, and that’s what’s in the bill.

Q: Biden governing from center or far left? A: not going to give up, keep pushing fair tax
Reporter: On broader budget priorities, the President likes to say — we’ve heard Karine say many times — “Show me your budget, and that will show me your priorities.” No one is more conversant with this President’s budgeting priorities than you. Based on the budgets he’s put together so far as President, would it be accurate to say that President Biden has been governing from the center? Or would it be more accurate to say, as Republicans would, that he’s been governing from the far left?

MS. YOUNG: … his budgets absolutely show who he values … We have to have a fair tax system in this country. This President has put forth three budgets that have been very clear about his priorities there. And again, we’re not going to give up on those. We’re going to keep pushing on those.

Kamala Harris Tells West Point Graduates: “You See What Can Be Unburdened By What Has Been”
Harris said, “And so, as I look out at you, I know that you will build on that leadership because, of course, your generation grew up online. Technology that might be intimidating or unfamiliar to other generations to you is exciting and intuitive. You see what can be, unburdened by what has been, and you have the agility and the ability to bring that potential to life.”

Karine Jean-Pierre On Moscow Drone Attack: Need To “Get Some Clarity, But…We’ve Been Very Clear”
Reporter: Does the President believe that Ukraine risks losing the moral high ground in this conflict if it strikes at — touches civilian targets in Moscow?

KJP: So, look, I’m going to be very clear. We’re gathering information. I’m not going to get into hypotheticals from here. We do not support the use of U.S.-made equipment being used for attacks inside of Russia. We’ve been very clear about that. And we’ll continue to do that. And we have been clear not just publicly but privately, clearly, with the Ukrainians. But not going to get into hypotheticals. We’re going to look into — gather information to see exactly what happened so we can get some clarity. But, as I said, we’ve been very clear.

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Biden OMB Dir take credit $1.7T Reduction But CBO says deficit will increase! Make Headway In Raising Taxes