ABC News: “President Joe Biden on Wednesday said that the federal government will pay down the national debt this quarter for the first time in six years”
Don’t forget: Indiana GOP, Donald Trump added about $8 trillion to the national debt in four years
INDIANAPOLIS – The Indiana Democratic Party, the organization that advocates for the future of Indiana and its families, celebrated President Joe Biden and Indiana Democrats’ record of cutting the national debt by $1.8 trillion collectively heading into the 2022 election year. This record of reducing the debt while also passing historic investments like the American Rescue Plan and The Infrastructure Investment and Jobs Act (The Jobs Act) is more proof Democrats like André Carson and Frank Mrvan know how to responsibly create a better future for Hoosier families in Indiana.
Democrats’ accomplishments are in direct contrast to the Indiana Republican Party, which with the help of Donald Trump, increased the national debt by $7.8 trillion in four years. This includes a $2.3 trillion dollar tax cut for big corporations and the top one-percent.
Indiana Republicans like U.S Senator Todd Young and Jennifer-Ruth Green have used the topic of spending as a way to oppose the Democrats’ American Rescue Plan and American Jobs Plan and the opportunity to bring once-in-a-generation investments to the Hoosier State. They’ve called investments like jobs, infrastructure, childcare, police funding, and education “socialism” all while voting “NO”. Indiana GOP Chairman Kyle Hupfer even described the GOP’s partisan agenda as a “great campaign to run on”.
Indiana Democrats will deliver the kitchen-table issues that matter most to Hoosier families – while also paying of the Indiana GOP’s debts. As for the Republicans: no plans- just partisanship and reckless spending.
ABC News: Biden touts economic growth, debt and deficit reduction ahead of Fed rate hike
“President Joe Biden on Wednesday said that the federal government will pay down the national debt this quarter for the first time in six years. […]
“‘Bringing down the deficit is one way to ease inflationary pressures in an economy, where a consequence of a war and gas prices and oil, food, and it all – it’s just a different world right this moment because of Ukraine and Russia,” Biden said.” […]
“”For all the talk the Republicans make about deficits, it didn’t happen a single quarter under my predecessor, not once,” Biden said. “The bottom line is the deficit went up every year under my predecessor, before the pandemic and during the pandemic, snd it’s gone down both years since I have been here. Period. There are the facts.”
Biden’s remarks from the White House come after the Treasury Department updated estimates this week to project that the U.S. deficit will fall by over $1.5 trillion this year, a revision from the $1.3 trillion projected in Biden’s budget.
He credited the American Rescue Plan for growing the economy, though that relief bill has also been criticized for contributing to current inflation problems.
“Looking ahead, I plan to reduce the deficit even more which will help reduce inflationary measures and lower the cost for everyone’s families,” Biden said, as he tries to revive a stalled legislative agenda in Congress.” […]
“The budget deficit fell by more than $350 billion in Biden’s first year, according to the White House…” […]
“…Former President Donald Trump’s massive tax cut in 2017 has added more than $1 trillion to the debt by some estimates — a point Biden hit head on.”