{"id":2357649,"date":"2024-10-21T17:59:01","date_gmt":"2024-10-21T21:59:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-defends-economic-record-after-biden-blows-1-8-trillion-hole-in-budget-washington-examiner\/"},"modified":"2024-10-21T18:00:31","modified_gmt":"2024-10-21T22:00:31","slug":"white-house-defends-economic-record-after-biden-blows-1-8-trillion-hole-in-budget-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-defends-economic-record-after-biden-blows-1-8-trillion-hole-in-budget-washington-examiner\/","title":{"rendered":"White House defends economic record after Biden blows $1.8 trillion hole in budget &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwhite-house-defends-economic-record-after-biden-blows-1-8-trillion-hole-in-budget-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2357649&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The White House recently \u200bdefended President Biden&#8217;s economic\u200c record following\u2064 a report from the Treasury \u200dDepartment indicating a $1.8 trillion deficit for fiscal year 2024, the third-largest in U.S. history. Press Secretary \u2064Karine Jean-Pierre attributed the deficit\u200c to tax\u2062 cuts implemented by former President Donald Trump and criticized Republican plans to continue such policies.\u200d She emphasized the\u200b Biden administration&#8217;s efforts to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-spending-interest-payments-in-focus-as-national-debt-tops-33-trillion\/\" title=\"National debt surpasses  trillion, spotlight on federal spending and interest payments.\">promote\u200b economic growth<\/a>, job availability, and reduced costs, referencing a debt ceiling deal\u200c aimed \u200bat cutting\u200b the deficit by \u2062$1.5 trillion over the next\u200d decade.<\/p>\n<p>Jean-Pierre dismissed concerns about the fiscal\u2062 2024\u200c deficit, which <a href=\"https:\/\/amzn.to\/3YuVZYV\">reflects increased federal debt\u200c interest<\/a> and spending in\u2062 areas like\u2064 Social Security and healthcare. She argued\u200d that the Biden administration has taken steps to stabilize the economy post-pandemic, contrasting it with \u200cthe previous administration&#8217;s approach. The current \u200ddeficit\u2064 marks\u200b an 8% \u200cincrease from the previous year,\u200b though it\u2064 remains lower than the significant deficits during the pandemic.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">White House defends economic record after Biden blows $1.8 trillion hole in budget&nbsp;<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1841864\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>The <a href=\"https:\/\/www.washingtonexaminer.com\/section\/news\/white-house\/\" target=\"_blank\" rel=\"noopener\" title>White House<\/a> blamed former President Donald Trump and his administration for the $1.8 trillion <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/deficit\/\" target=\"_blank\" rel=\"noopener\" title>deficit<\/a> the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/treasury-department\/\" target=\"_blank\" rel=\"noopener\" title>Treasury Department<\/a> reported last week for fiscal 2024, the third-largest deficit in U.S. history.<\/p>\n<div class=\"article-paywall\">\n<p>&ldquo;The former administration passed <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/taxes\/\" target=\"_blank\" rel=\"noopener\" title>tax cuts<\/a> for billionaires and corporations that have led to where we are currently in this deficit,&rdquo; <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/media-say-bidens-female-led-comms-is-a-first-trump-has-that-now\/\" title=\"Media Say Biden&#039;s Female-Led Comms Is A First. Trump Has That Now\">press secretary<\/a> <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/karine-jean-pierre\/\" target=\"_blank\" rel=\"noopener\" title>Karine Jean-Pierre<\/a> told the <em>Washington Examiner<\/em> on Monday. &ldquo;What we&rsquo;re trying to do here from this administration is make sure that the economy continues to grow, that <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/jobs\/\" target=\"_blank\" rel=\"noopener\" title>jobs<\/a> are available, continue to grow, that we&rsquo;re lowering the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/unemployment\/\" target=\"_blank\" rel=\"noopener\" title>unemployment rate<\/a> and <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/inflation\/\" target=\"_blank\" rel=\"noopener\" title>lowering costs<\/a>.&rdquo;<\/p>\n<p>Jean-Pierre then compared the Biden administration&rsquo;s record, including the debt ceiling deal President Joe Biden and then-House Speaker Kevin McCarthy agreed to last year which would reduce the deficit by $1.5 trillion over the next decade, claiming Republicans have been doing &ldquo;the opposite.&rdquo;<\/p>\n<p>&ldquo;They want to continue to give tax cuts to billionaires and corporations,&rdquo; she said. &ldquo;They want to make it harder for middle-class families. And so there&rsquo;s a difference there. Like the contrast could not be more different than what we&rsquo;re trying to do and what they&rsquo;re trying to do.&rdquo;<\/p>\n<p>Jean-Pierre dismissed the idea that the fiscal 2024 deficit, exacerbated by <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/interest-rates\/\" target=\"_blank\" rel=\"noopener\" title>interest<\/a> on the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/federal-debt\/\" target=\"_blank\" rel=\"noopener\" title>federal debt <\/a>being more than $1 trillion for the first time and increased spending on <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/social-security\/\" target=\"_blank\" rel=\"noopener\" title>Social Security<\/a>, <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/healthcare\/\" target=\"_blank\" rel=\"noopener\" title>healthcare<\/a>, and the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/military\/\" target=\"_blank\" rel=\"noopener\" title>military<\/a>, was evidence Democrats are weaker on the economy than Republicans as the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/economy\/\">economy<\/a> remains one of voters&rsquo; top concerns.<\/p>\n<p>&ldquo;It&rsquo;s not true,&rdquo; the press secretary said. &ldquo;We saw a situation with the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/covid-19\/\" target=\"_blank\" rel=\"noopener\" title>pandemic<\/a> where there was no strategy. Businesses were closing down, the majority of schools were closed, and so this president has said he needed to turn that around with the help of the vice president. And so this is why we&rsquo;re gonna go to New Hampshire tomorrow. We&rsquo;re gonna speak to the Inflation Reduction Act and what the president and vice president has been able to do in lowering cost because we understand that there&rsquo;s more work to do.&rdquo;<\/p>\n<p>&ldquo;Everything that we&rsquo;re talking about, Republicans in Congress, majority of them, don&rsquo;t wanna see,&rdquo; she added. &ldquo;They&rsquo;re on the other side of what we&rsquo;re trying to do. We understand there&rsquo;s more work to do, and we&rsquo;re going to continue to push forward.&rdquo;<\/p>\n<p>The deficit for fiscal 2024, the year that ended Sept. 30, was 8% higher, or $138 billion more, from the $1.7 trillion deficit for fiscal 2023, though it was lower than the pandemic-era deficits of $3.1 trillion in fiscal 2020 and $2.8 trillion in fiscal 2021.<\/p>\n<p>The Committee for a Responsible Federal Budget,&nbsp;a fiscal think tank, has estimated&nbsp;that former President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/donald-trump\/\" target=\"_blank\" rel=\"noopener\" title>Donald Trump<\/a>&lsquo;s 2024 campaign proposals would create $7.5 trillion in new debt, while Vice President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/kamala-harris\/\" target=\"_blank\" rel=\"noopener\" title>Kamala Harris<\/a>&lsquo;s plans are projected to add $3.5 trillion.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/strong><\/p>\n<p>At the same time, polling respondents have <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rogan-democrats-how-rfk-jr-could-still-swing-presidential-election-washington-examiner\/\" title=\"Rogan Democrats: How RFK Jr. could still swing presidential election - Washington Examiner\">repeatedly told pollsters<\/a> they trust Trump with the economy more than Harris. <\/p>\n<p>An <em>Associated Press<\/em> and NORC Center for Public Affairs Research poll published on Monday did find that <a href=\"https:\/\/apnews.com\/article\/poll-trump-harris-economy-immigration-abortion-bd496f938f9fe8e7e256326f973e8ac8\" target=\"_blank\" rel=\"noopener\" title> 46% of voters preferred Harris regarding middle-class taxes, while 35% preferred Trump<\/a>. Harris also had an advantage related to the cost of housing, while Trump had an edge on tariffs. Voters were relatively split on whether Trump or Harris would be better on prices for everyday essentials, such as groceries and gas, and on jobs and unemployment.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1841864\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1841864\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>White House attributes $1.8 trillion deficit to Trump\u2019s policies<\/p>\n","protected":false},"author":2652,"featured_media":2357650,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/10\/karine-jean-pierre-white-house-2-scaled-1024x683.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[32502,37768,32127],"class_list":["post-2357649","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-biden-administration","tag-economic-record","tag-white-house"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/10\/karine-jean-pierre-white-house-2-scaled-1024x683.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2357649","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2652"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2357649"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2357649\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2357650"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2357649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2357649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2357649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}