The Biden rep brushed off statistics indicating the federal deficit is on track to double this year, blaming the tenuous situation on “volatile” factors — but then refusing to be …
The mistake-prone Federal Reserve could be sending us into recession
The deficit increase is caused by factors such as boosted federal spending and the fact that higher interest rates — deployed to tame inflation — have increased US borrowing costs, the Washington Post reported. “The deficit has fallen more than $1 trillion under this president, and he has signed legislation to cut the deficit by another $1 trillion — so the president’s budget would reduce the deficit by a further $2.5 trillion by cutting wasteful spending on wasteful special interests and making big corporations and the rich pay their fair share,” Jean-Pierre contended.
“The president believes in moving forward with his economic plan in a fiscally responsible way, and so that’s what we’re going to continue to do here,” Jean-Pierre said.AP“What we know for sure is that [the] trickle-down economy does not work, you hear us talk about all the time when we talk about [how] Bidenomics is building an economy from the bottom up, middle out — that’s the president’s plan, that’s what he’s going to continue to do,” she said.
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