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Joe Biden aims to reduce US deficit by 'nearly $3 trillion' in 10 years

2023-03-08T18:37:24.227Z


This draft budget “reveals the values ​​of the president”, insisted the spokesperson for the White House, Karine Jean-Pierre.


The draft budget that Joe Biden will present on Thursday “

will reduce the deficit by nearly $3 trillion over the next ten years

,” his spokeswoman Karine Jean-Pierre said on Wednesday.

In 2022, the world's leading power ran a federal deficit of $1.38 trillion, according to the Treasury Department.

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Karine Jean-Pierre declared that the American president, whose projects will come up against a Congress partly dominated by the opposition, intends to achieve this objective by increasing taxation "on the rich and big companies while eliminating unnecessary spending for the benefit

of 'special interests such as pharmaceutical and oil giants

'.

Joe Biden had already mentioned in February a project for a tax on billionaires, which however has little or no chance of succeeding in Congress.

This draft budget "

reveals the values ​​of the president

", insisted the spokeswoman, after Joe Biden has already promised not to touch social benefits, and even to strengthen the health insurance system for Americans from over 65 years old.

According to the Washington Post, the Democratic president also intends to increase the salaries of federal civil servants by 5.2%, which would be the largest increase in more than forty years.

The spokeswoman estimated that the projects of the Republicans, in the majority in the House of Representatives, would lead on the contrary to an increase of 3000 billion in the deficit.

This battle of numbers is likely to be one of Joe Biden's campaign axes, if he embarks, as he intends and as everything seems to indicate, in a campaign for the presidential election. of 2024.

Source: lefigaro

All news articles on 2023-03-08

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