President Joe Biden has unveiled a $6 trillion budget plan for next fiscal year that rolls his sweeping infrastructure, education, healthcare, and clean energy plans into a wish list some experts say would run up a $1.8 trillion deficit.
And it is the Biden administration’s plan to pay down the federal debt that may cause the most concern for deficit hawks.
Biden’s budget essentially maps out the president’s already released $2.3 trillion infrastructure-plus proposal, his $1.8 trillion social welfare package, and his $1.5 trillion discretionary spending outline, which together form his vision of a larger, far-reaching federal government.
However, liberal activists eager for Biden to take the lead on the Democrats’ healthcare platform will be disappointed. Instead, Biden’s budget calls for Congress to enact reforms aimed at lowering prescription drug prices and improving and expanding insurance coverage.
Acting White House Office of Management and Budget