Budgets are about priorities. In the Biden administration’s new budget, its apparent priorities are marred by problems. Here’s the cheat-sheet version: Rather than containing explosive growth in spending, it would use a bunch of new taxes to wage class warfare.
While this budget is dead on arrival in Congress, it’s worth reviewing some reasons why this is so. The president aspires to spend around $6.9 trillion next year, a 55% increase over pre-pandemic levels, and $10 trillion by 2033. While Biden hopes to raise an extra $4.7 trillion over 10 years in taxes, the debt would nevertheless grow over the next decade by $19 trillion as the debt-to-GDP ratio increases from 98% to 110%.
The Daily Caller was founded in 2010 by Tucker Carlson, a 20-year veteran journalist, and Neil Patel, former chief policy advisor to Vice President Cheney, The Daily Caller is one of America’s largest and fastest-growing news publications. Our team of experienced, full-time reporters and editors works around the clock to deliver award-winning original reporting, in-depth investigations, entertainment, thought-provoking commentary and up-to-the-second breaking news. Visit https://dailycaller.com
This post has been republished with implied permission from a publicly-available RSS feed found on Daily Caller. The views expressed by the original author(s) do not necessarily reflect the opinions or views of The Libertarian Hub, its owners or administrators. Any images included in the original article belong to and are the sole responsibility of the original author/website. The Libertarian Hub makes no claims of ownership of any imported photos/images and shall not be held liable for any unintended copyright infringement. Submit a DCMA takedown request.