President Biden finally released his budget on Thursday, more than a month after the Budget Act’s statutory deadline. The document should have come with a five-word warning attached: “Hold on to your wallet.”
The budget includes thousands of pages of arcana and technical details, all of which will come to light further in the coming days. But a preliminary review of the budget’s main summary tables illustrates a familiar pattern among Democrats — a tax, spend, and borrow vision designed to expand government further. Here are some of the “highlights” (more like lowlights) from the summary document.
Taxes Too Much
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Overall, the administration says the budget proposes $4.7 trillion in tax increases — a staggering sum in any season, but particularly when the economy faces
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