Biden releases $6T budget that foresees decade of trillion-dollar deficits
| President Biden on Friday proposed a budget that would entrench deficits in excess of $1 trillion for the next decade, pushing the nation’s debt burden to record highs.
Combined with mandatory spending programs, the 2022 budget would spend $6 trillion, about $300 billion more than current projections for the year. Non-defense spending would increase by 16 percent in 2022, with defense budgets expanding by 1.7 percent. |
