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Why The National Debt Still Matters
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Why The National Debt Still Matters
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Patrick Semansky / AP
Originally published on May 28, 2021 2:56 pm
President Biden has proposed a $6 trillion budget for the fiscal year starting Oct. 1, part of a plan to overhaul the U.S. economy that would also mean running up deficits of at least $1.3 trillion a year for the rest of the decade despite new tax increases on the wealthy.
The proposal is the biggest budget in recent history, reflecting the massive government spending plans Biden rolled out this spring in his push to bolster the middle class and make the United States more competitive with China: his $1.5 trillion discretionary budget, which would increase funding for education, the IRS and the Centers for Disease Control and Prevention, among other things;
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