CNN fact checker Daniel Dale took apart President Joe Biden’s claim that his policies have reduced the nation’s debt.
The investigation occurred after Biden claimed he reduced the nation’s debt by $350 million during his first year in office.
— New York Post (@nypost) May 9, 2022
The real story
“Let me remind you again: I reduced the federal deficit,” Biden said a Wednesday speech. “All the talk about the deficit from my Republican friends, I love it. I’ve reduced $350 billion in my first year in office.”
The CNN fact-check found a different story.
“While the deficit fell by nearly $360 billion in fiscal 2021 – a period that included Biden’s first eight months as president – the nonpartisan Congressional Budget Office initially predicted a decline of $870 billion. By that measure, he noted, the president has fallen short of expectations,” the New York Post reported.
Instead of saving money, Biden pushed a $1.9 trillion American Rescue Plan and a bipartisan infrastructure bill that further added to the nation’s debt.
CNN’s Daniel Dale explains why experts are calling out President Biden’s claim that he is personally responsible for reducing the federal deficit.
Watch the fact check here: https://t.co/wKP3HAWqfI
— CNN (@CNN) May 9, 2022
The president was correct that debt rose each year under the Trump administration, but it has certainly not improved under Biden’s leadership.
Instead, the nation faces 40-year high inflation, along with record gas prices that are hurting American families.
“The actions of the administration and Congress have undoubtedly resulted in higher deficits, not smaller ones,” Dan White, senior director at Moody’s Analytics, told CNN.
“It is encouraging that the administration has proposed some initiatives to bring down the deficit, but so far none of those initiatives has been seriously considered.”