The U.S. federal budget shortfall was cleaved in half in fiscal year 2022, the Treasury Department reported on Friday, as COVID-19-related spending dried up.
Former White House deputy chief of staff Karl Rove and Fox News contributor Liz Peek predict the effectiveness of the Inflation Reduction Act on 'The Evening Edit.' fell by half for the 2022 financial year as once-aggressive pandemic relief spending dried up and receipts surged, the Treasury Department said on Friday.
"Today’s joint budget statement provides further evidence of our historic economic recovery, driven by our vaccination effort and the American Rescue Plan,"said in a statement. "It also demonstrates President Biden’s commitment to strengthening our nation’s fiscal health." Treasury Secretary Janet Yellen speaks during a news conference at the 2022 annual meeting of the International Monetary Fund and the World Bank Group, Oct. 14, 2022, in Washington.
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