In MLK Speech, Biden Calls Republicans ‘Fiscally Demented’

President Biden made the comment about Republicans on Monday during the keynote speech at the National Action Network’s annual breakfast to mark Martin Luther King Jr. Day.
WASHINGTON, DC - JANUARY 13: U.S. President Joe Biden waits for the arrival of Japanese Prime Minister Kishida Fumio at the White House on January 13, 2023 in Washington, DC. Fumio is meeting with Biden to reaffirm the U.S.-Japan strategic relationship in the Indo-Pacific as military tensions rise in the region. (Photo by Kevin Dietsch/Getty Images)

At a glance

  • “They’re gonna talk about big-spending Democrats again. Guess what? I reduced the deficit last year $350 billion. This year, federal deficit is down $1 trillion-plus. That’s a fact. … But so what? These guys are the fiscally demented, I think,” said Biden, prompting laughter from the crowd.
  • “I think the economy — the way it should grow in America — is from the bottom up and the middle out,” said the president, who next year faces reelection. “That way poor folks have a shot, middle-class people do well and the wealthy still do very well.”
  • He also said he is “ready to work” with the GOP, which now control of the House but that he’s disappointed by the first few bills they’ve put forward.
  • “Like many Americans, I was disappointed,” Biden said. “It would help the wealthy people and big corporations cheat on their taxes at the expense of ordinary middle-class taxpayers. … This is their first bill and they campaigned on inflation.”

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