By Louis Jacobson • July 5, 2022
This phenomenon — the passing of a temporarily expensive phase for the federal government — caused the record amount of deficit reduction. "While I welcome deficit reduction, the $1.5 trillion was off of enormous deficits," Ellis said."It lacks a certain context." The Treasury Department told PolitiFact that the expiration of pandemic spending programs, rather than their continuation, stems from policy successes by the Biden administration, so it’s not unreasonable to give the administration some credit for enabling that reduction.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: