Biden showcases deficit progress in bid to counter critics

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President Joe Biden on Wednesday highlighted new figures showing the government’s red ink will grow less than expected this year and the national debt will shrink this quarter as he tried to counter criticism of his economic leadership amid growing dismay over inflation going into midterm elections that will decide control of Congress.

Biden, embracing deficit reduction as a way to fight inflation, stressed that the dip in the national debt would be the first in six years, an achievement that eluded former President Donald Trump despite his promises to improve the federal balance sheet.

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