President Biden’s Budget Deficit Legacy

In Analysis by Michael Rae

The Congressional Budget Office creates a detailed 10-year budget projection of the U.S. government’s spending, revenues, and deficits every year. The CBO’s 10-year budget and economic outlook for 2023 are now out. This new report puts the lie to one of the most bizarre claims President Joe Biden made in his State of the Union address just ten days earlier.
Here’s the claim:
In the last two years, my administration has cut the deficit by more than $1.7 trillion—the largest deficit reduction in American history.
President Biden’s claim can only be true if the U.S. government planned to continue its crisis deficit spending to cope with 2020’s

Read more at The Independent Institute