evidence: In the last two years, my administration has cut the deficit by more than $1.7 trillion—the largest deficit reduction in American history. [...] However, an updated report from the CBO reveals that the deficit Biden has been bragging about was actually $319 billion higher than what was expected when he had just taken office on Jan. 20, 2021. In fact, deficits through fiscal year 2031 are on pace to total a staggering $6 trillion more than when the Biden administration began, or about $46,000 for every household in the country.