Updated on Oct 27, 2022
Fact: Democrats Reduced the Federal Deficit by 50%
VERIFIED SOURCES
The U.S. Treasury released the deficit figures for the end of fiscal year 2022.
“The federal deficit went up every single year in the Trump administration — every single year he was president,” President Biden said. “It went up before the pandemic. It went up during the pandemic. It went up every single year on his watch, Republican’s watch.”
And Biden is right. During Trump’s one term as President, Republicans drove up the federal deficit every single year. As the economy moves forward from the pandemic and if Democrats hold the House and Senate, the U.S. budget is on track to balance for the first time since the Clinton administration.
Sources
United States Treasury: National deficit
CNBC: U.S. budget deficit cut in half for biggest decrease ever
Facts work the best when shared with friends. ..
SOURCES
FactPAC is dedicated to supporting a robust and fair Democracy by getting the facts to voters. FactPAC is an unconnected political action committee that has no affiliation with any other organizations or campaigns. We are donor-supported and volunteer-run.
Sharing this fact can make a difference! Can you share it on just one of your profiles?
We can win with your support.
We're running digital campaigns throughout the country to fight to get the truth out. Help us continue to support democracy.
