President Biden’s press office has let it be known that the White House relishes a debate with the GOP over the parties’ competing visions for controlling federal debt. It is a curious display of bravado, given the administration’s seeming vulnerability on fiscal matters.
Congress was fully under Democratic control in 2021 and 2022, and yet the Biden administration made no serious effort to narrow future budget deficits. Quite the contrary. The House and Senate worked with the White House to pass bills that will require trillions of dollars of additional borrowing, and then the president unilaterally made the problem worse with a large student loan forbearance program. That is the actual record that the president will need to defend in 2024.
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