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The deficit then fell under Trump and Biden in fiscal 2021 (to about $2.8 trillion) and again under Biden in fiscal 2022 (to about $1.4 trillion). But it then rose in fiscal 2023 (to about $1.7 ...
(The Center Square) – The latest federal numbers show the U.S. deficit is soaring as President Joe Biden heads out of office. The U.S. Congressional Budget Office released its monthly budget ...
Since 1981, federal budget deficits have increased under Republican presidents Ronald Reagan, both Bushes, and Trump, while deficits have declined under Democratic presidents Clinton and Obama. The economy ran surpluses during Clinton's last four fiscal years, the first surpluses since 1969.
The deficit comes as Biden is asking Congress for $100 billion in new foreign aid and security spending, including $60 billion for Ukraine and $14 billion for Israel, along with funding for U.S ...
The Biden-Harris four-year deficit total was $7.65 trillion — roughly 50 percent more than Donald Trump’s four-year deficit total of $5.56 trillion, and that figure included $3.13 trillion ...
The economic policy of the Joe Biden administration, colloquially known as Bidenomics (a portmanteau of Biden and economics), is characterized by relief measures and vaccination efforts to address the COVID-19 pandemic, investments in infrastructure, and strengthening the social safety net, funded by tax increases on higher-income individuals and corporations.
Thanks in large part to Biden’s four-year deficit spending spree, ... For a more recent comparison, our annual federal deficit was just under $1 trillion in 2019 heading into the pandemic. In ...
The Inflation Reduction Act of 2022 (IRA) is a United States federal law which aims to reduce the federal government budget deficit, lower prescription drug prices, and invest in domestic energy production while promoting clean energy. It was passed by the 117th United States Congress and signed into law by President Joe Biden on August 16, 2022.