Why the Budget Deficit Is Falling

President Biden has credited the federal deficit with falling, but what he won’t tell you is the real reason. Allow us to fill in his blank.

Spending has fallen sharply this fiscal year, but it’s not due to restraint by Congress. The explanation is that “the net result of a large reduction in pandemic-related spending was offset by a smaller increase in other spending,” as the Congressional Budget Office put it in its April budget summary.

https://www.wsj.com/articles/why-the-budget-deficit-is-falling-biden-tax-revenue-11652391235 Why the Budget Deficit Is Falling

Alley Einstein

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