Biden Administration Announces Plan to Reduce US Debt by $2 Trillion The Biden administration has unveiled a long-awaited plan to cut the US national debt by a staggering $2 trillion over the next decade. The proposal, which aims to reduce the country's debt-to-GDP ratio, is a significant step towards addressing the nation's growing fiscal burden. According to sources, the plan will focus on a combination of spending cuts, tax reforms, and increased economic growth through investments in infrastructure and education. With the national debt continuing to soar, the administration's plan is being closely watched by economists and lawmakers alike, who are eager to see the details of the proposal and its potential impact on the US economy.