
President Biden in his State of the Union address formally announced a Department of Justice chief prosecutor for pandemic related fraud declaring: “In my administration, the watchdogs are back.”
Biden also took aim at the Trump administration for undercutting financial watchdogs, saying: “The previous Administration not only ballooned the deficit with those tax cuts for the very wealthy and corporations, it undermined the watchdogs. The job of those it was to keep pandemic relief funds from being wasted.”
Biden continued, “In my administration, the watchdogs are back. We’re gonna go after the criminals who stole billions of relief money meant for small business and millions of Americans.”
The White House announced the new federal efforts to combat identity theft and criminal fraud in pandemic relief programs earlier Tuesday in a fact sheet.
Biden also touted the decrease in the deficit under his administration, saying by the end of this year “the deficit will be down to less than half what it was before I took office.”
“The only president ever to cut the deficit by more than one trillion dollars in a single year. Lowering your costs also means demanding more competition. I’m a capitalist, but capitalism without competition is not capitalism. Capitalism without competition is exploitation—and it drives up profits,” Biden added.