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![]() ![]() Section 4: President & Congress Subject: GOPs vs DEMs on Budget Msg# 1226995
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For reference, the above message is a reply to a message where: Mark (& Jim) Just to check out the chart posted earlier, I searched for reports whether the claimed deficit reductions attributed to Biden are accurate. And the claim for Biden in the chart was found to be false. NO "Joe Biden did NOT reduce the deficit by $942 billion. Turns out the deficit was estimated to go down because of expiring provisions of the COVID aid payments which no longer would be paid out to citizens. Turns out that Biden's legislation he passed cut into those potential savings, so he can't claim credit for reducing the deficit. Headline: Fact checkers call out Biden's State of the Union claims about the deficit as 'misleading,' 'lacking context' Click Here Quotes: "New York Times, Washington Post and other fact checkers called out the president for claims about the deficit" .... "It is true that the federal deficit fell by $1.7 trillion under Biden in the 2021 and 2022 fiscal years, including a record $1.4 trillion drop in 2022 — but it is highly questionable how much credit Biden deserves for this reduction...." "Washington Post similarly called out the president. Biden misleadingly claims to have lowered the deficit by a huge amount even though his policies have added significantly to the national debt," wrote Glenn Kessler, the Post's fact-checker...." "In February 2021, before Biden enacted any fiscal legislation, the Congressional Budget Office (CBO) already estimated that the budget deficit would plummet in fiscal years 2021 and 2022 because emergency COVID pandemic spending would lapse. Specifically, the CBO calculated the combined annual deficits for 2021 and 2022 would be $3.31 trillion." "However, the deficits for 2021 and 2022 actually ended up totaling $4.15 trillion, according to the CBO. In other words, the deficits for those years were about $840 billion more than expected." Its the kind of testing I did in my auditing days. This undercuts the entire chart, from an auditor's perspective. It demonstrates how figures can and have been manipulated by those compiling the chart. |