Economy

Federal Deficit to Double to $2 Trillion Even as Biden Boasts Deficit-Cutting

A nonpartisan fiscal policy research group is warning of an “unprecedented” rise in the federal budget deficit, which is on track to double to $2 trillion this year.
Federal Deficit to Double to $2 Trillion Even as Biden Boasts Deficit-Cutting
The White House in Washington on July 10, 2023. Madalina Vasiliu/The Epoch Times
Tom Ozimek
Tom Ozimek
Reporter
|Updated:
0:00

As President Joe Biden on Monday touted his apparent deficit-cutting mettle, a nonpartisan fiscal policy research group warned of an “unprecedented” explosion in the federal budget deficit, which it said is on track to double to $2 trillion this year.

In a Labor Day speech in Philadelphia on Monday, President Biden touted his economic policies while taking a series of jabs at his predecessor, President Donald Trump.

Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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