Biden’s 2022 Budget Would Push Federal Spending to Highest Levels Since WWII
Economic Policy,Federal Budget,Economy And Jobs
President Joe Biden will unveil a $6 trillion budget proposal on Friday that would push federal spending to its highest sustained levels since World War II.
Biden’s budget plan asks the federal government to spend $6 trillion in the 2022 fiscal year and for total spending to hit $8.2 trillion by 2031, according to documents first obtained by The New York Times.
Should Biden’s budget be accepted by Congress, the federal government will spend more as a share of the economy each year than at any other time since World War II, with the exception of 2020 and 2021, which saw trillions in COVID-relief spending.
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