From WSJopinion: President Biden has been taking credit for the falling federal deficit, but what he won’t tell you are the real reasons. Allow us to fill in his blanks.
Review & Outlook: 'I'm taking inflation very seriously and it's my top domestic priority,' says Joe Biden. Perhaps he should follow the advice given to George Costanza in TV's 'Seinfeld.' Images: NBCUniversal/Getty Images Composite: Mark KellyPresident Biden has been taking credit for the falling federal deficit, but what he won’t tell you are the real reasons. Allow us to fill in his blanks.
Spending has fallen sharply this fiscal year, but the reason isn’t Congressional restraint. The explanation is “the net result of large decreases in pandemic-related spending offset by smaller increases in other spending,” as the Congressional Budget Office puts it in its April budget summary.
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