Committee for a Responsible Federal Budget President Maya MacGuineas on the Biden administration's handling of the deficit and the best way to fight inflation
MAYA MACGUINEAS:
We're still going to be having huge annual deficits, hundreds of billions of dollars of borrowing a year. And if the economy strengthens, what we should be doing is trying to get down to no borrowing, budget surpluses to replace, not repay some of the debt that we've borrowed. But there is no way that these numbers will be small amounts.
Committee for a Responsible Federal Budget President Maya MacGuineas discusses inflation during her appearance on"Cavuto: Coast to Coast" on May 13, 2022. The Biden administration, which has been good on some issues, the president put out a budget that was going to reduce the deficit by a trillion dollars, not that anyone thought it would happen, but at least he's talking about the issue. But the Biden administration has been trying to take credit for the huge reduction in deficits. And it is not the case that this is the result of proactive policies they put in place.
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