The New CS Board

[jumanji0881]

Biden Unveils $6 Trillion Budget That Will Raise Federal Spending To Highest Post-WW2 Level : https://www.zerohedge.com/political/biden-unveils-6-trillion-budget-will-raise-federal-spending-highest-post-ww2-level

My Comment : $2Trillion deficits as far as the eye can see. We've got a lot more fiat where that came from...there is no limit. Note that these deficit projections do not include a recession.

Excerpt:
Under Mr. Biden’s proposal, the federal budget deficit would hit $1.8 trillion in 2022, even as the economy rebounds from the pandemic recession to grow at what the administration predicts would be its fastest annual pace since the early 1980s. It would recede slightly in the following years before growing again to nearly $1.6 trillion by 2031.

Total debt held by the public would more than exceed the annual value of economic output, rising to 117 percent of the size of the economy in 2031. By 2024, debt as a share of the economy would rise to its highest level in American history, eclipsing its World War II-era record.

Federal spending will swell to levels never seen before during peacetime, as Biden coughs up money for roads, water pipes, broadband internet, electric vehicle charging stations and advanced manufacturing research. The budget also envisions funding for affordable child care, universal prekindergarten, a national paid leave program and a host of other initiatives. Spending on national defense would also grow, though it would decline as a share of overall GDP.