Washington, DC (October 21, 2022)— Today, President Biden held a press conference on the economy and the budget deficit.
“It’s outrageous that President Biden is taking a victory lap over the deficit literally hours after the Associated Press reported that his student loan bailout will cause the monthly deficit to jump 562 percent. The deficit under Biden is still projected to be about $1.4 trillion which is grossly excessive since the pandemic is over. The reason the deficit remains so high is because of Biden’s record spending and anti-growth policies, which have also caused the worst inflation in four decades. JCN is suing the Biden Administration to stop their illegal and economically-damaging student loan bailout. We remain confident that we will prevail in court and deliver a victory for small businesses and the American people.”
To learn more about JCN’s lawsuit against the student loan bailout, click here.