Biden to Conveniently Drop His Massive Budget Right Before the Holiday Weekend

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Posted: May 27, 2021 4:15 PM
Biden to Conveniently Drop His Massive Budget Right Before the Holiday Weekend

Source: AP Photo/Evan Vucci

President Joe Biden will release a massive $6 trillion budget tomorrow afternoon just in time for the three-day, Memorial Day weekend. The bill, which would be the biggest spending since World War II, will require tax increases for all Americans. 

"The plan demonstrates that Biden shows little interest in taming the deficit, which would remain above $1 trillion through the next decade despite an expected economic recovery. The deficit only exceeded that level in the four-year period following the Great Recession and again after the COVID-19 pandemic slammed the economy," The Hill reports. "Rather than find a path to a sustainable debt, the plan would increase the country’s debt burden to 117 percent of gross domestic product by the end of the decade, exceeding its World War II record in 2024. Writ large, the budget proposal, which the White House is expected to formally lay out on Friday, is an unabashed call for a bigger role for government in the U.S. economy, bringing spending to a quarter of the nation’s annual output, larger than any level before the pandemic."

The price tag isn't going over well.