Today’s CBO report projects that the deficit this year will fall by $1.7 trillion—the single largest nominal reduction in the federal deficit in American history.
Shalanda Young (Archived)
422 posts
Shalanda Young (Archived)
@ShalandaYoung46
This is an archive of an account for Shalanda Young, Director of the Office of Management and Budget
Joined May 2022
- Hi everyone! Shalanda Young here, Director of the Office of Management and Budget. Excited to make my Twitter debut by recognizing the incredible public servants at OMB and all across the country as we celebrate Public Service Recognition Week. #GovPossible
00:00 - NEW: a key measure of inflation shows that prices came down nationwide last month while personal income went up. More work to do, but this is more evidence that @POTUS’s economic plan is working.
- Today's GDP numbers show that @POTUS's first two years of economic growth were the strongest first two years of any President since President Clinton.
- Replying to @ShalandaYoung46Lowering costs for families. Protecting and strengthening Social Security and Medicare. Investing in America. Cutting the deficit. These are @POTUS’s values at work. It’s time for Congressional Republicans to release a budget of their own. (6/6)
- Replying to @ShalandaYoung46That means that our strong economic recovery, powered by President Biden’s economic and vaccination policies, also improved our nation’s fiscal position and reduced our deficit.
- Replying to @ShalandaYoung46With that historic reduction, our deficit this year will be lower than CBO projected it would be before passage of the American Rescue Plan.
- Replying to @ShalandaYoung46Second, at a time when Congressional Republicans have talked about cutting Medicare and Social Security, the budget protects and strengthens these bedrock programs that Americans have paid into their entire working lives. (3/6)
- Replying to @ShalandaYoung46First, the budget lowers costs for American families, from health care and prescription drugs, to housing and utilities – giving them a little more breathing room at the end of the month. (2/6)
- Replying to @ShalandaYoung46Fourth, the budget builds on the President’s record of fiscal responsibility – cutting deficits by nearly $3 trillion over the next decade by asking the wealthy and big corporations to pay their fair share and cutting wasteful spending on special interests. (5/6)
- Replying to @ShalandaYoung46Third, the budget invests in America – boosting American manufacturing, providing national paid leave, cutting taxes for working families, making our communities safer, driving medical breakthroughs in cancer, delivering for our veterans, and more. (4/6)
- Replying to @ShalandaYoung46This progress wasn’t automatic or inevitable. It’s because this Administration has responsibly managed the pandemic, which allowed us to wind down emergency measures, combined with a significant increase in revenues stemming from an historically strong economic recovery.
- .@POTUS Biden often reminds us – “Show me your budget and I’ll tell you what you value.” It has been the professional privilege of my life to lead the Office of Management and Budget.