US President Joe Biden on Friday hailed a big drop in the federal deficit as evidence of a resurgent economy as he touted his record ahead of November’s crucial US midterm elections.
Hailing the “largest ever decline in the federal deficit,” Biden called the development “further proof that we’re rebuilding the economy,” in a televised address from the White House. (AFP)
This year the deficit fell by $1.4 trillion, the largest one-year drop in American history.
Further proof that we’re rebuilding the economy in a responsible way.
— Joe Biden (@JoeBiden) October 21, 2022