In last night’s State of the Union Address, President Biden made a number of claims related to the budget deficit. We’ve fact-checked three of those claims below:
- “I’ve already cut the deficit by over $1 trillion.“ False
- “I signed a bipartisan budget deal that will cut another trillion dollars over the next decade.” True
- “The last Administration…added more to the national debt than any presidential term in American history.” True
Read the full analysis from the Committee for a Responsible Federal Budget
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So, good Ol Joe came in and saved the day. He looked around and saw what a mess the last guy left so he never spent a nickel over revenue and even set up a spending control plan to take care of us for the next 10 years. He’s a saint I tell ya. I won’t even have to read the comics page today, the laughs are right here.
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Thank you for posting this. Just one more example how President Biden is a better choice than Trump on almost policy unless you are pro-life or a billionaire hoping for another tax cut.
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How much of the present economic strength is attributable to the tax cuts under Trump? Raise taxes at your own peril.
Of course Biden lies about his reducing the deficit. Fact checkers from every persuasion threw cold water on that whopper.
Be careful about projections and reducing deficits. Projections for 10-years out almost always fail as the great unknown puts a monkey wrench in the soothsayers predictions .
Anyone predict 9/11 and the subsequent market crash and the effect on budgets?
Anyone predict the the 2008-09 housing implosion–market crash–10% unemployment?
Anyone predict COVID–world economies shutting down–the 34% loss of markets in 30+days?
Remember; folks with a crystal ball end up eating crushed glass.
As far as the Trump deficits –when you shut down the economies of the world and pump money into the system to ward of recession/depression then deficits are what the Congress voted for and that is what we got.
I think we all know that whoever is president it would take courage to veto a spending bill.
Sad part of this is we now have record revenues flowing into the treasury and it looks like not one penny is being used to pay down the debt–no matter how good times are the spending just keeps growing.
When you transfer student loan repayment to the tax payer it’s but one example of increasing the deficit.
Of course the big enchilada is Social Security and Medicare and nobody wants to touch that.
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