Biden unveils $6TRILLION budget in biggest federal spending bill since WWII while running $1.3T deficit

PRESIDENT Joe Biden released a huge $6 trillion budget request on Friday that would take the US to its highest levels of federal spending since World War II.

His first budget proposal since taking office, Biden’s spending plan would ramp up investment in infrastructure and education, while also setting aside $34 billion to combat climate change.

Biden’s plan for fiscal year 2022 calls for $6.01 trillion in spending and $4.17 trillion in revenues, a 36.6 percent increase from 2019 outlays, before the coronavirus pandemic bumped up spending.

It projects a $1.84 trillion deficit, a sharp decrease from the past two years because of the COVID-19 pandemic, but up from 2019’s $984 billion.

White House officials said the Biden’s $4 trillion plans to address historic U.S. inequality, climate chance and provide four more years of free public education would be completely paid for in 15 years.

More to follow…

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