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Biden Emphasizes Deficit Reduction in Bid to Pass Economic Agenda
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wsj.comWASHINGTON—The Biden administration and top Democrats are embracing efforts to reduce the federal deficit as they seek to gain support for their economic agenda from Sen. Joe Manchin (D., W.Va.), a holdout who views closing the budget gap as a way to combat inflation.
In a series of recent public remarks, President Biden and party leaders including House Speaker Nancy Pelosi (D., Calif.) are promising anew that their stalled healthcare, education and climate-change package would raise more revenue than it spends. Democrats are also talking up the recent narrowing of the deficit as broad fiscal support for the economy dries up and the labor market strengthens.
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