Biden to Propose $6 Trillion Federal Budget for 2022
Summary from the AllSides News Team
President Joe Biden is preparing to propose a $6 trillion federal government budget for fiscal year 2022, The New York Times reported Thursday. According to a CNBC source, this would amount to $5 trillion in additional federal spending over the next decade. This marks a sharp increase from the previously-proposed $1.5 trillion 2022 budget, with the new proposal including Biden’s $2.3 trillion American Jobs Plan and $1.8 trillion American Families Plan. The plan also calls for raising annual federal spending to $8.2 trillion by 2031. Furthermore, Biden’s plan would keep annual deficits above $1.3 trillion over the next decade, with the federal government spending more as a percentage of the economy than any year since World War II, except 2020 and 2021.
Most coverage from across the spectrum focused on the New York Times report and included its framing around total annual spending and WWII. Some left- and center-rated outlets focused on other reported aspects of the budget, including CNBC’s “$5 trillion increase” framing, increased military cyber force spending, and comments by Treasury Secretary Janet Yellen.
Featured Coverage of this Story
From the Right
Biden’s 2022 Budget Would Push Federal Spending to Highest Levels Since WWIIPresident 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...
From the Center
Biden’s budget will include $5 trillion in new federal spending over the next decadePresident Joe Biden will propose $5 trillion in new federal spending over the next decade on Friday, part of his Fiscal Year 2022 budget request, a source familiar with the proposal tells CNBC.
The new spending will be paid for in part by $3.6 trillion in additional revenues over the same period. The result would be a net deficit of $1.4 trillion, which would begin shrinking after 2030.
Biden will include $300 billion of the $5 trillion total in his budget request to Congress for fiscal year 2022. This will...
From the Left
Biden to Propose $6 Trillion Budget to Make U.S. More CompetitiveThe president’s plans to invest in infrastructure, education, health care and more would push federal spending to its highest sustained levels since World War II.
WASHINGTON — President Biden will propose a $6 trillion budget on Friday that would take the United States to its highest sustained levels of federal spending since World War II, while running deficits above $1.3 trillion throughout the next decade.
Documents obtained by The New York Times show that Mr. Biden’s first budget request as president calls for the federal government to spend $6 trillion...
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