By The American Tribune | Created at 2025-01-18 11:01:09 | Updated at 2025-01-20 16:59:09
2 days ago
Resurfaced footage from earlier this year shows President Joe Biden raising his voice while making a disputed claim about cutting the federal deficit. Throughout his presidency, Biden has made dubious claims about the fiscal impacts of his policies, such as their supposed deficit reduction. These statements have drawn fact-checks even from friendly, left-leaning news organizations.
During the footage shared to X in April of this year, Biden claimed he cut the deficit “by one hundred and sixty billion dollars,” noticeably raising his voice to emphasize the financial figure. “One hundred sixty billion dollars,” he added. I’m serious. Think about it.” RNC Research, an account that continually fact-checked Joe Biden, wrote, “Biden randomly starts yelling about cutting the deficit (which is a lie).”
Over the past few years, Biden has made a wide range of claims about the alleged economic impacts his administration has enacted, whether about job creation, fiscal spending, or inflation. Some of his statements have been so inaccurate that even CNN has had to step in and provide additional context about an astounding claim regarding federal debt.
During a 2023 speech, the president claimed, “I was able to cut the federal debt by $1.7 trillion over the first two-and-a – two years. Well remember what we talked about. Those 50 corporations that made $40 billion, weren’t paying a penny in taxes? Well guess what – we made them pay 30%. Uh, 15% in taxes – 15%. Nowhere near what they should pay. And guess what? We were able to pay for everything, and we end up with an actual surplus.”
Fact-checking Biden, CNN wrote, ” Biden’s claims were thoroughly inaccurate. First, he has not cut the federal debt, which has increased by more than $5.7 trillion during his presidency so far after rising about $7.8 trillion during Trump’s full four-year tenure; it is the budget deficit (the one-year difference between spending and revenues), not the national debt (the accumulation of federal borrowing plus interest owed), that fell by $1.7 trillion over his first two fiscal years in office.”
The outlet further noted, “Second, Biden’s 15% corporate minimum tax on certain large profitable corporations did not take effect until the first day of 2023, so it could not possibly have been responsible for the deficit reduction in fiscal 2021 and 2022. Third, there is no “actual surplus”; the federal government continues to run a budget deficit well over $1 trillion.”
Biden posted on X, “My fellow Democrats, I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term. My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it’s been the best decision I’ve made. Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats — it’s time to come together and beat Trump. Let’s do this.”
Watch Biden’s raise his voice while discussion his supposed accomplishment with the federal deficit below:
Biden randomly starts yelling about cutting the deficit (which is a lie) pic.twitter.com/NdEQseIjM4
— RNC Research (@RNCResearch) April 3, 2024
Note: The featured image is a screenshot from the embedded video.
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