President Joe Biden lashed out at Republicans on Monday, calling them “fiscally demented” while speaking at the National Action Network’s annual Martin Luther King Jr. Day Breakfast.
“We’re making this progress at the same time, reduced the deficit,” Biden asserted, according to a report from The Hill. “You know, we’re gonna talk about big-spending Democrats again? Guess what? I reduced the deficit last year $350 billion. And this year? The federal deficit’s down $1 trillion-plus dollars. That’s a fact. And there’s gonna be hundreds of billions reduced over the next decade. These guys are fiscally demented, I think. They don’t quite get it.”
Biden was apparently referencing a decline in the budget deficit from $3.1 trillion in fiscal year 2020 to $2.7 trillion in fiscal year 2021, followed by another decrease to $1.4 trillion in fiscal year 2022, as indicated by data from the Office of Management and Budget. The commander-in-chief nevertheless failed to…
