Fact: Democrats Reduced the Federal Deficit by 50%
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.
United States Treasury: National deficit
Updated on Oct 27, 2022
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