President Joe Biden has been taking credit for reducing the federal budget deficit, the annual gap between the money the government takes in and the money the government spends. Here's a fact check of his claims.
Washington President Joe Biden has been taking credit for reducing the federal budget deficit, the annual gap between the money the government takes in and the money the government spends.
"Let me remind you again: I reduced the federal deficit," Biden said in a speech on Wednesday."All the talk about the deficit from my Republican friends, I love it. 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." Biden's figures for both the 2021 fiscal year and the ongoing 2022 fiscal year are accurate, though the $1.
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