Biden Touts Deficit Reduction

“President Joe Biden on Wednesday said that the federal government will pay down the national debt this quarter for the first time in six years,” ABC News reports.

“His remarks on economic growth came ahead of the Federal Reserve announcing a hike in interest rates Wednesday afternoon in an attempt to manage soaring inflation.”

Said Biden: “Bringing down the deficit is one way to ease inflationary pressures in an economy, where a consequence of a war and gas prices and oil, food, and it all – it’s just a different world right this moment because of Ukraine and Russia.”