The president has made a fresh effort to sell his administration as a model of fiscal restraint in recent weeks, casting falling deficits as an increasingly central focus of his agenda
President Joe Biden has accused the GOP of demanding spending cuts while backing policies that would add $3 trillion to the national debt. | Drew Angerer/Getty ImagesJoe Biden spent the last two years pursuing and enacting massive domestic programs meant to remake the U.S. economy. But as he prepares a run for reelection, Biden is trying out a new economic persona: deficit hawk.
The rhetorical shift has quietly worried some progressive-minded Democrats who warn it could undermine the case for future crisis aid — or backfire on Biden himself if the U.S. sinks into a recession that results in greater government spending and fewer tax receipts, driving the deficit higher. The president has accused the GOP of demanding spending cuts while backing policies that would add $3 trillion to the national debt. In particular, he’s singled out their plans to roll back taxes on the wealthy and prescription drug reforms projected to ease the deficit. And he’s challenged House Republicans to release their own detailed budget proposal.
Still, Biden’s sharper approach toward the deficit of late has troubled other progressives, who fear it signals a surrender of any future willingness to use government support to help in tough economic times. In addition, if the U.S. does hit a recession, the slowdown would naturally result in higher spending on government programs and lower tax revenue, driving up the deficit on its own.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Supreme Court to hear GOP state challenge to pandemic-related Biden student loan debt relief planThe U.S. Supreme Court is set to hear oral arguments Tuesday pertaining to GOP-led states aiming to block President Biden's student debt forgiveness plan.
Leer más »
GOP senator says Biden has ‘slow-rolled’ Ukraine help as other Republicans blast foreign aidSen. Dan Sullivan said the Biden administration has “slow-rolled” critical military support to Ukraine and slammed the White House for saying Ukrainians are not ready to receive F-16 fighter jets in their war against Russia.
Leer más »
GOP blasts Biden for refusing Ukraine F-16 fighter jets: ‘Real blunder’Republican congressional lawmakers blasted President Biden for refusing to provide F-16 jet fighters to Ukraine, with a GOP senator saying the administration’s delay in sending military aid …
Leer más »
Ohio train derailment: House GOP to hold hearings on Biden administration responseSeveral House committees are considering holding hearings about the Biden administration's response to the Ohio train derailment that released chemical toxins into the environment earlier this month.
Leer más »
GOP Sen. Rick Scott suggests Biden is ‘compromised’ by China“All that Biden does is pacify China. I mean, I don’t know why he does it. I don’t know if he’s compromised. I don’t know what it is. But this is a guy that won&8…
Leer más »
GOP moving legislation to stop Biden admin from 'bullying' Big Tech to censor free speechThe House Oversight Committee will mark up two bills that Republicans say will 'protect speech' from Biden administration censorship as officials fight 'disinformation.'
Leer más »