CNN reporter attacks Biden for claiming he personally reduced budget deficit: ‘reversal of reality’

President Joe Biden’s claim that he personally reduced the federal deficit was thoroughly debunked Monday by a CNN fact-checking reporter, who called the claim a “reversal of reality” from the “bizarre world.”

What does Biden claim?

Last week, Biden boasted that he was responsible for cutting the federal deficit and even claimed his leadership put the country on track for a record-breaking deficit reduction this year.

“Let me remind you again: I reduced the federal deficit,” Biden said called last Wednesday. “All this talk about the deficit from my Republican friends, I love it. I reduced it by $350 billion in my first year in office. And we’re on track to reduce it by another $1 trillion, $500 billion by the end of September — the biggest drop ever.

But what is the truth?

The truth, according to CNN reporter Daniel Dale, is that the budget deficit should have been falling by the time Biden took office. Indeed, without Biden’s policies, the deficit reduction would have been even greater.

“There is no doubt that the deficit has come down under President Biden so far. Under President Trump, it was approximately $3.1 trillion in fiscal 2020. It was about $360 billion lower, so about $2.8 trillion in fiscal 2021, mostly under President Biden. ‘ Dale began during an interview with New Day.

“But even with that $360 billion drop, pundits I spoke to still scoffed at the idea that President Biden is personally responsible for reducing the deficit,” he continued. In fact, a deficit reduction advocate, Marc Goldwein of the Federal Budget Committee, told me that this claim is almost a bizarre world, an inversion of reality … because the deficit was expected to decrease by more than $360 billion by the time President Biden took office.

“In fact, the bipartisan Congressional Budget Office had projected at the time that the deficit would decrease by more than $870 billion in 2021 unless President Biden implemented new policies,” Dale said.

Citing Biden’s Pandemic Relief Act, the Infrastructure Act and expanding food stamp benefits, Dale explained, “Whatever you think of all these measures, they all cost money. In the end, the deficit was reduced less than expected.”

In fact, the reason Biden can claim he reduced the deficit in the first place is because of temporary spending related to the pandemic.

“Basically, in Trump’s last year, there was an explosion of short-term spending on pandemic relief programs and tax revenues collapsed as the economy collapsed; the deficit reached a record 3.1 trillion, more than three times the level of the previous year. ‘ Dale explained. “But because a lot of that spending for 2020 was short term, the deficit would almost certainly come down in the coming years no matter who is president.

“So if President Biden is talking about a projected $1.5 trillion decrease in the deficit this year, the deficit this year would still be higher than what he originally projected when he took office,” Dale reiterated. CNN reporter attacks Biden for claiming he personally reduced budget deficit: ‘reversal of reality’

Laura Coffey

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