President Joe Biden is set to propose on Friday a $6 trillion budget 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, the New York Times reported on Thursday.
While the president will be calling on the federal government to spend $6 trillion for fiscal year 2022, total spending will rise to $8.2 trillion by 2031, the report said, citing documents it obtained.
The budget will cover the cost upgrading the nation’s infrastructure and expanding the social safety net and will include planned increases in discretionary spending, the report said.