Biden celebrates cutting deficit, but only cut our '401ks to 201k': McCarthy

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McCarthy rips Biden

House Minority Leader Kevin McCarthy, a Republican from California, knocks President Biden for the economic crisis America has landed in under his watch.

President Biden visited an AFL-CIO event in Pennsylvania's largest city Tuesday and took credit for cutting the U.S. deficit a reported $350 billion as a sign the economy is strong despite rapid inflation.

In response, House Minority Leader Kevin McCarthy, R-Calif., told "Jesse Watters Primetime" that the only thing the president slashed was Americans' pension accounts under Internal Revenue Code 401k.

"Joe Biden has not cut the deficit. The only thing he cut was my 401k to a 201k," he said. "And when you look at it, the only thing he's given to the American public is a car payment without the car — we now spend 450 more dollars a month — everything costs us more because of inflation."

McCarthy added Biden has also made every American city a "border city" with his open border policies and lax deportation enforcements.

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McCarthy (AP/J.Scott Applewhite)

He added that many in the media are finally having trouble defending the president, and are recognizing that the Hunter Biden laptop scandal first broken by the New York Post is true, and that inflation is not "transitory" as stated by Treasury Secretary Janet Yellen.

"They're just now figuring out that America's hurting. They're just now figuring out that approval rating is so low, they're just now figuring out his very first day in office is when he started raising the gas prices — when he cut the pipeline, cut our ability to have American jobs and American energy independence by drilling on federal lands and others."

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"We told them this would happen, but it was just Republicans until [former Treasury Secretary] Larry Summers told him he would bring inflation back if he passed that $2 trillion bill that did nothing but bring us inflation."

"And [Biden] has just denied it, denied it, denied it."

He added that the biggest recent example of the counter-Biden pivot happened just north of him, when liberal San Franciscans rebuffed their district attorney, Chesa Boudin, and sent him out of office in a recall election.

Boudin, the son of two former Weather Underground members linked to the 1981 Brinks robbery in Clarkstown, N.Y., lost his recall 40% to 60% in the blue bastion by the Bay.