The national debt is at an all-time high and this year's budget deficit is forecasted to be the third or fourth-largest in American history—but President Joe Biden claims these are signs that his administration is overseeing a period of fiscal austerity.
Really! Here are some words that actually tumbled out of the president's mouth at a press conference on Wednesday morning: "We're on track to cut the federal deficit by another $1.5 trillion by the end of this fiscal year. The biggest decline ever in a single year, ever, in American history."
