White House press secretary Karine Jean-Pierre was asked about the US national debt surpassing a record $34 trillion, for which she blamed the historic number on "trickle-down debt" and Republican "MAGAnomics."
"So yeah, if you look at — if you look at that data, it’s a trickle — there’s a trickle-down debt," Jean-Pierre said. "If you think about it, Republican tax cuts are responsible for about 90 percent of it, of the increase in the debt as a share of the economy over the last two decades, excluding emergency spending."
Jean-Pierre said that Biden has signed legislation "to lower the deficit by $1 trillion," the Inflation Reduction Act "that’s going to lower prescription drug costs," and has vowed to crack down "on the weath tax cheats that we’ve seen and then his agenda would cut the deficit another $2.5 trillion, by making the wealthy pay their fair share."
"What we've seen on the other side is the complete opposite. What they've tried to do is continue to give a tax break to the millionaires and the billionaires and that — what they have actually put forward would add more than $3 trillion to the debt."
When questioned on why she blames Republicans for the national debt increase while Biden has been in office for nearly three years, with the reporter noting that in the last three months the US has added $10 billion per day to the debt, Jean-Pierre said "Republican tax cuts are responsible for 90 percent of the increase in the debt."
Noting once again the lowering prescription drug costs, Jean-Pierre proclaimed that "the President beat big pharma. That’s what he was able to do last year because of the policies that he has put forth." The US federal government has spent $30 billion on Covid vaccines, with nearly all of that money going to big pharma. Some of those funds were used to "strengthen vaccine confidence" by paying local groups to encourage residents to take the vaccine.
"What they want to do is they want to continue with their MAGAnomics, what they've proposed will add $3 trillion to the debt."
The US national debt surpassed $33 trillion on September 18, meaning the debt jumped by $1 trillion in around three months.
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