DEBUNKING BIDENS LIE THAT HE REDUCED THE DEFICIT
Written by Peter Boykin on May 10, 2022
Shared By Peter Boykin – American Political Commentator / Citizen Journalist
Joe Biden keeps repeating the false claim that he reduced the federal deficit, and you know it’s a big lie when even CNN is fact-checking it and calling it a “bizarro world.”
Biden’s lie: Here’s what he said in a speech recently:
- “Let me remind you again: I reduced the federal deficit. All the talk about the deficit from my Republican friends, I love it. I’ve reduced $350 billion in my first year in office.”
First things first: Joe Biden is trying to frame this issue to spin his culpability on the economic carnage he’s caused for Americans – from inflation to rising gas prices to baby formula shortages.
The numbers: It’s true that in 2020, the federal deficit was $3.1 trillion dollars. And in 2021, the first year of Biden’s residency, the deficit was $2.8 trillion. So technically there was a roughly $300 decrease under Biden. But…
The lie comes in Biden’s omission. What he doesn’t mention is that the deficit was expected to decrease by more than $870 billion, according to the non-partisan Congressional Budget Office.
- But due to spending bills passed by Biden ($1.9 trillion covid relief + $1.2 trillion infrastructure bill) that didn’t happen.
Making it worse, the CNN fact-checker says Biden doesn’t even deserve credit for the $300 billion reductions. Why? Because those decreases were already set in place by the Trump administration. CNN’s Dan Dale says:
- “In short, it’s because of temporary pandemic spending. It was scheduled to expire and it has expired…the deficit was almost certainly going to fall in the coming years no matter who was president.”
The CNN fact-checker noted that Biden likes to cite Moody’s Analytics when spinning his economic numbers. But Moody’s refutes Biden, saying:
- “The actions of this administration and Congress have undoubtedly resulted in higher deficits, not smaller ones.”
I wouldn’t get used to it, but this time CNN nailed it.
[Source: CNN, Wake Up Right]
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