No, it's in marginal dollars. It's the budget deficit. Biden's claims of enormous budget deficit reductions are relative to the 2020/2021 highs and are thus mo

No, it's in marginal dollars. It's the budget deficit. Biden's claims of enormous budget deficit reductions are relative to the 2020/2021 highs and are thus mostly irrelevant. But it's still genuinely lower than 2019 by a bit. One could have imagined a world where the spending didn't fall back to normal yet. ymmv