WASHINGTON —
There would be $795 billion for defense, $915 billion for domestic programs, and the remaining balance would go to mandatory spending such as Social Security, Medicare, Medicaid and net interest on the national debt. More money would go to support law enforcement, yet bipartisan efforts at police reform have failed. The budget assumes — with a high degree of uncertainty based on forecasts made last November — that inflation at a 40-year peak gets back to normal next year.
The proposal faced immediate criticism from Republican lawmakers. They noted that deficits well in excess of $1 trillion annually would persist, said higher taxes could hurt growth and objected that additional government spending would feed into inflation.
Always more taxes. Never less spending. Both sides have become spenders. Shameful.
👏 Hey Colorado cons 👏 THIS is what fiscal responsibility looks like. Bush wasted $17T in Iraq, trump gave tax cuts to oligarchs WHILE increasing spending. Can we please stop pretending Republicans are better with money? Because they are objectively and definitively worse.
let's go brandon
Oh brother, more than have of US citizens aren’t paying federal income tax and the “wealthy” aren’t nearly wealthy enough to put even a little dent in government borrowing, federal deficits and national debt. Biden’s plan will fail—inflation continues and debt increases.
Let’s see how taxing unrealized gains goes. While it will be applied to the super rich, this part, in my opinion will hold this proposal up.
This is good
Does this mean he is raising overall tax revenue rather than re-distribution?
We already spend billions on education and never seem to seeing any positive results. Same for everything the government takes over and tries to control, like healthcare/Obamacare. Maybe blank funding isn’t the easy solution it seems to be.