President Joe Biden on Wednesday highlighted how far the federal deficit has fallen under his tenure, pointing to a new report from the Treasury Department that estimates this fiscal year’s budget deficit will decline $1.5 trillion.
approved in 2021 has already paid off in the form of faster growth that now makes it easier to stabilize government finances.
The Treasury this week also announced it would pay down $26 billion of its debt this quarter. President Biden on Wednesday said reducing the money that the federal government owes is one way to ease inflation.
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