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Deficit figures set up competing visions from Biden and GOP

President Joe Biden speaks about deficit reduction, in the Roosevelt Room at the White House in Washington, Friday, Oct. 21, 2022. Biden is flanked by, Office of Management and Budget Director Shalanda Young, left, and Council of Economic Advisers Chairwoman Cecilia Rouse. (AP Photo/J. Scott Applewhite) President Joe Biden speaks about deficit reduction, in the Roosevelt Room at the White House in Washington, Friday, Oct. 21, 2022. (AP Photo/J. Scott Applewhite)