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Biden administration touts historic deficit reduction as pandemic programs expire, taxes increase

By Christian Datoc
Published October 21, 2022 2:30pm ET
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Biden administration touts historic deficit reduction as pandemic programs expire, taxes increase
President Joe Biden told reporters that he supported some restrictions on abortion but did not elaborate while leaving the White House Thursday.

The federal budget deficit fell an unprecedented $1.4 trillion in fiscal 2022 to $1.375 trillion, buoyed in large part by the expiration of emergency COVID-19 pandemic aid.

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Deficit Janet Yellen Joe Biden Treasury Department