On Monday, President Biden criticized Republicans calling them “fiscally demented during his remarks at the National Action Network’s (NAN) annual breakfast celebrating Martin Luther King Jr. Day.
During his speech, Biden said that while the Republicans keep insisting that the Democrat’s spending is out of control, Biden’s administration managed to reduce the deficit by $350 billion in the last year. So far this year the federal deficit has also gone down by more than $1 trillion. He added that while the Democrats are working to reduce spending by billions, the Republicans seem to entirely not understand what is happening. Biden then called the Republicans “fiscally demented.”
The economy is not the only thing that Biden focused on during his speech. In fact, he noted that his administration had done a lot of work for civil rights. He noted that even in the economy, while the Republicans are promoting an economic stance that ignores the disparities that minority communities have to deal with, his administration’s policy work “from the bottom up and the middle out.”
He added that this way those in the lower brackets will have a chance, while those who are wealthy will still be able to do well without avoiding paying their share.
During his speech, he also added that he was ready to start collaborating with House Republicans who currently hold the majority, despite being disappointed by the first few bills that the GOP majority had brought. Specifically, he noted that the first bill brought forth by the Republican majority is focused on helping the wealthy and big corporations instead of assisting middle and lower-class American taxpayers.