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Biden Boasts of Decreasing National Debt by $1.7 Trillion Despite Raising National Debt by $4 Trillion
Introduction
President Joe Biden has claimed that he has reduced the national debt by $1.7 trillion, despite increasing it by $4 trillion. This claim has been met with skepticism by many, who argue that it is impossible to reduce the debt while simultaneously increasing it. However, the Biden administration has defended its position, arguing that the reduction in the debt is due to a combination of factors, including increased revenue and decreased spending.
The Biden Administration’s Position
According to the Biden administration, the reduction in the national debt is due to a combination of factors. First, the administration claims that it has increased revenue through a series of tax reforms, including raising the corporate tax rate and closing loopholes that allow corporations to avoid paying taxes. Second, the administration claims that it has decreased spending by cutting wasteful programs and reducing the size of the federal government.
The administration also argues that the reduction in the debt is due to the positive impact of its policies on the economy. According to the administration, its policies have led to increased economic growth, which has resulted in higher tax revenues and lower spending on social programs. Additionally, the administration claims that its policies have led to a reduction in the deficit, which has helped to slow the growth of the national debt.
Criticism of the Biden Administration’s Claims
Despite the Biden administration’s claims, many experts remain skeptical. Some argue that it is impossible to reduce the debt while simultaneously increasing it, and that the administration’s claims are therefore misleading. Others argue that the reduction in the debt is due to factors outside of the administration’s control, such as the impact of the COVID-19 pandemic on the economy.
Critics also point out that the Biden administration has proposed a number of expensive programs, such as infrastructure spending and expanded social programs, that are likely to increase the national debt even further. Some argue that the administration’s claims of reducing the debt are simply an attempt to justify these programs, which are likely to be unpopular with many Americans.
Conclusion
In conclusion, the Biden administration’s claims of reducing the national debt by $1.7 trillion while increasing it by $4 trillion have been met with skepticism by many experts. While the administration has defended its position, arguing that the reduction in the debt is due to a combination of factors, including increased revenue and decreased spending, critics remain unconvinced. Ultimately, the impact of the Biden administration’s policies on the national debt remains to be seen, and it is likely that the debate over the administration’s claims will continue for some time
Original article Teaser
Biden Claims to Have Reduced National Debt by $1.7 Trillion After Increasing National Debt by $4 Trillion
Despite the national debt increasing by roughly $4 trillion on his watch, Joe Biden is claiming that he actually lowered it by $1.7 trillion the first two years of his presidency. Watch below: When Biden took office the national debt was $27.75 trillion, and as of writing it stands at $31.7 trillion. While only Biden needs this clarified; 31.7 trillion actually a bigger number than 27.75 trillion, not 1.7 trillion smaller. Biden has repeated the “$1.7 trillion debt reduction” claim numerous times in recent months, and it appears that he’s confused by his own White House’s talking points. According to an ironically-named “White House fact sheet” from March of this year, the administration claims “President Biden cut the deficit by
