In his reelection announcement video, Biden once again raised the possibility that Republicans will cut Social Security retirement benefits, although there seems to be little appetite in Congress for any significant changes.
“fell to number 13 in the international ratings” for infrastructure prior to his signing a bipartisan infrastructure law in 2021, but some experts say the ranking underrated the U.S. That’s based on factoring in gains on unsold stock as income.
Biden said the average tax rate for billionaires is 8%, lower than the rate for schoolteachers or firefighters. The president said that “in my first two years in office I’ve lowered the deficit by a record $1.7 trillion,” but most of that reduction was expected as a result of expiring emergency pandemic spending. Biden’s boast that more jobs were created in two years of his presidency “than any president created in a four-year term,” is correct in raw numbers, but not when looking at the percentage growth. Trillions of it were due to bipartisan pandemic relief legislation, not Republicans acting alone. Biden was correct in saying the debt had gone up “nearly 40%” under his predecessor, but that leaves a misleading impression. The president claimed Republicans would cut Social Security for seniors, but proposals for potential changes haven’t attracted much congressional support. In his video announcement and a speech later that day to a union group, Biden repeated several claims we’ve fact-checked before: President Joe Biden announced on April 25 that he would run for reelection in the 2024 campaign.
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