Reported By Michael Robison | Published June 15, 2022
Fact Checkers from the far-left media giant CNN have now pushed back on claims made by President Biden last month in which he said, “I reduced the federal deficit.”
In a speech last month, Biden repeated the claims of personally reducing the national deficit. “Let me remind you again: I reduced the federal deficit,” Biden said.
“All the talk about the deficit from my Republican friends, I love it. I’ve reduced it to $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.”
CNN noted in their fact-checking article that the deficit did go down during the 2021 fiscal year. But, they pointed out that the decline was far less than expected. According to CNN, economic experts say Biden is “distorting reality when he claims that he is personally responsible for the deficit going down.” Despite the drop in the national deficit, the reduction would have been more significant if the Biden administration had continued with laws put in place when Trump left office.
Dan White, senior director at Moody’s Analytics, said, “The actions of the administration and Congress have undoubtedly resulted in higher deficits, not smaller ones.”
“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,” he continued.
The Congressional Budget Office stated that the deficit decline should have been more than $870 billion instead of the $360 billion the Biden administration saw during the fiscal year 2021. By the way, Biden was only in office for eight of those months for 12 fiscal months.
Some of the lack of results can be blamed on the massive $1.9 triliion pandemic relief package passed in the early days of the Biden administration.
Senior vice president at the Committee for a Responsible Federal Budget Marc Goldwin told CNN that Biden’s claims of personally reducing the national deficit are “almost a bizarro world,” referring to the Superman comic book world where everything is backward.