Members Bust Out Laughing As Biden Says He’s ‘Delivered Results In Fiscally Responsible Ways’

'I‘ve been delivering real results in fiscally responsible ways.'

NYC Teachers Union Sues Eric Adams Over Budget Cuts

'This is going to become difficult and ugly,' said Michael Mulgrew

FACT CHECK: Joe Biden Claims Fiscal Responsibility Act Saves $1 Trillion From The Deficit Over Next 10 Years

'The Fiscal Responsibility Act is projected to save $1 trillion and $2 trillion from the deficit over the next 10 years, according to the Committee for a Responsible Federal Budget (CRFB) and the Congressional Budget Office (CBO)'

‘We Do Have A Deficit Problem’: Former Obama Administration Official Dump Cold Water On MSNBC

'We shouldn’t kid ourselves'

Former Trump Administration Official Russell Vought Calls For Eliminating ‘Wokeness’ From Federal Budget

“Our office is going to be looking at the dollars that go into wokeness — whether it’s in the military, whether it’s in discretionary money.”

Did California’s $25B Budget Deficit Just Tank Gavin Newsom’s Presidential Dreams?

California Gov. Gavin Newsom just saw his path to the White House become even more difficult as a $25 billion budget deficit was announced.

The Federal Budget Deficit Shrinks Under Biden — With One Giant Catch

Massive reduction in COVID-19 spending

FACT CHECK: Joe Biden Claims The Debt Was Reduced Under His Presidency

While the deficit has declined, its due to the expiration of COVID-era policies

Reporter is forced to ask WH press secretary same question six times because she won't answer directly: 'Who is paying for this?'



White House press secretary Karine Jean-Pierre repeatedly dodged a simple question on Wednesday about President Joe Biden's student loan debt forgiveness plan.

The White House press briefing was the first one held in more than two weeks.

What happened?

When it was Fox News correspondent Peter Doocy's turn to ask a question, he chose the obvious, "How can the country afford such a massive handout?"

What followed was a lengthy exchange in which Jean-Pierre claimed the Biden administration has brought down the budget deficit by $1.7 trillion, suggesting those purported savings are what will pay for student loan debt forgiveness.

But after she attacked Republicans for passing tax cuts during the Trump administration, Doocy was forced to ask the same question six times because Jean-Pierre repeatedly dodged his line of inquiry.

"Who is paying for this?" Doocy asked.

At first, Jean-Pierre cited the alleged $1.7 trillion in deficit reduction. But Doocy quickly pointed out that "forgiving" student loan debt does not make it disappear. So he asked again, "Who is paying for this?"

08/24/22: Press Briefing by Press Secretary Karine Jean-Pierre youtu.be

Next, Jean-Pierre tried to claim that lifting the moratorium on student loan payments will help pay for the cost of Biden's plan. But by her own admission, the revenue generated from payments pales in comparison to the estimated cost of the plan.

"But somebody is paying for it. Who?" Doocy asked again. "Is it wealthy Americans? Is it corporations? Who is paying?"

Jean-Pierre, however, never really answered the question. Instead, she claimed Biden's COVID-19 stimulus bill, the Inflation Reduction Act, and "all of this work that this president has done" has produced $1.7 trillion in deficit reduction.

The press secretary then abruptly moved on to the next reporter.

Has Biden really lowered the deficit by $1.7 trillion?

The talking point sounds great. But it's not true.

What is true is the deficit has been reduced by about $1.7 trillion between 2021 and 2022 — but not because of Biden.

When the COVID-19 pandemic hit in 2020, government revenues dried up as businesses shut down. The significant reduction in tax revenues combined with the trillions of dollars in pandemic relief caused the national deficit to quickly balloon.

This means the deficit was always going to decrease because pandemic-related spending has waned.

The Congressional Budget Office explains:

CBO projects that the federal budget deficit will shrink to $1.0 trillion in 2022 (it was $2.8 trillion last year) and that the annual shortfall would average $1.6 trillion from 2023 to 2032. The deficit continues to decrease as a percentage of gross domestic product (GDP) next year as spending related to the coronavirus pandemic wanes, but then deficits increase, reaching 6.1 percent of GDP in 2032.

As the CBO explained, a budget deficit of about $1 trillion still exists. Biden is therefore not saving Americans any money.

So the question remains: Who is going to pay for student loan debt forgiveness?

CNN reporter nukes Biden for claiming he has personally reduced budget deficit: 'Reversal of reality'



President Joe Biden's claim that he has personally reduced the federal deficit was thoroughly debunked on Monday by a CNN fact-checking reporter, who described the claim as a "reversal of reality" from "bizarro world."

What is Biden claiming?

Last week, Biden boasted that he is responsible for lowering the federal deficit and even claimed his leadership has placed the country on track for a record-setting deficit reduction this year.

"Let me remind you again: I reduced the federal deficit," Biden said last 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."

But what is the truth?

The truth, according to CNN reporter Daniel Dale, is that the budget deficit was already projected to fall when Biden entered office. In fact, deficit reduction would have been even greater without Biden's policies.

"There is no doubt that the deficit has fallen under President Biden so far. It was about $3.1 trillion under President Trump in fiscal 2020. It was about $360 billion lower than that, so about $2.8 trillion in fiscal 2021, mostly under President Biden," Dale began during an interview on "New Day."

"But even with that $360 billion decline, experts I spoke to still scoffed at the idea that President Biden is personally responsible for having reduced the deficit," he continued. "In fact, one advocate of deficit reduction, Marc Goldwein of the Committee for Responsible Federal Budget, told me that this claim is almost bizarro world, a reversal of reality ... because the deficit was expected to fall by more than $360 billion at the time President Biden took office.

"In fact, at the time, the nonpartisan Congressional Budget Office had projected that the deficit would fall by more than $870 billion in 2021 if President Biden did not implement new policy," Dale explained.

\u201cAlmost bizarro world\u201d\n\nIt must be a blue moon b/c CNN\u2019s fact-checker @ddale8 is calling out Biden for lying about historic deficit reductions #MoreOfThisPleasepic.twitter.com/GaSU5zb9WB
— Tom Elliott (@Tom Elliott) 1652102040

Citing Biden's pandemic relief bill, the infrastructure bill, and the expansion of food stamp benefits, Dale explained, "Whatever you think of all those policies, they all cost money. So there ended up being less deficit reduction than expected."

In fact, the reason Biden can claim he has reduced the deficit at all is because of temporary pandemic-related spending.

"Basically, there was an explosion of short-term spending in Trump's last year because of pandemic relief programs and tax revenue collapsed because the economy crashed; the deficit hit a record at 3.1 trillion that was more than triple what it was the year prior," Dale explained. "But because a lot of that 2020 spending was short-term, the deficit was almost certainly going to fall in the coming years no matter who is president.

"So, when President Biden talks about a projected $1.5 trillion decline in the deficit this year, even if that does happen, the deficit would still be higher this year than initially projected when he took office," Dale reiterated.