As the budget deficit narrowed, interest rates would go down. No one reports it, but last year we actually had a fiscal contraction. Just to remind everyone We inherited the worst budget deficit in history when we were not in a recession or not at war, 6.7%. We brought that down to about 5.5 or 5.4% this year. I think we stay on a good trajectory. (16:30–16:35)
CLAIM
Asserts that the current administration inherited a 6.7% budget deficit, the worst in history outside of recession or war.
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