By Jeff Mason and Jarrett Renshaw WASHINGTON (Reuters) -President Joe Biden sharply criticized former President Donald Trump’s “MAGA” movement as extreme on Wednesday while touting his Democratic administration’s efforts to reduce the U.S. deficit, which rose under his Republican predecessor. In what could be a preview of a midterm campaign speech, Biden took aim at what he dubbed “MAGA” Republicans who he charged with protecting billionaires at the expense of working class Americans while only paying lip-service to budget responsibility. MAGA is a reference to Trump’s slogan “Make America Gre…