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.

The blueprint released by the White House ties together three major spending proposals already announced by Biden: the $2.3 trillion American Jobs Plan, the $1.8 trillion American Families Plan and $1.5 trillion in discretionary spending for fiscal 2022.

Combined with mandatory spending programs, the 2022 budget would spend $6 trillion, about $300 billion more than current projections for the year, with much of the spending going toward education, health, science research and infrastructure.