President Joe Biden plans to go on the offensive against Republicans, saying in effect that their policies would add $3 trillion to the national debt.
Ahead of Biden’s remarks to union workers Wednesday in Lanham, Maryland, the White House issued a fact sheet that questions the GOP’s sincerity on deficit reduction.
The White House is charging the GOP with hypocrisy for favoring tax policies that could push the accumulated $31.4 trillion national debt higher. Yet Biden also wants to preserve some of the same tax cuts as Republicans so long as the approach is “fiscally responsible.”
The speech is the latest evolution in a political and economic debate that will play out over several months. Biden and House Speaker Kevin McCarthy need to reach a deal mid-summer on raising the government’s legal borrowing authority or else the government could lack the funds to pay its bills and default.
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