Saturday, March 11, 2023

Our Tax and Spend President - His Proposed Budget

White House officials and Democratic lawmakers have emphasized Biden’s plan to reduce the deficit largely through higher taxes on the wealthy.

But the proposal is as much a political document as an actual tax-and-spending plan. Congress is in charge of writing the federal budget, and Biden’s budget will be dead on arrival the minute it lands on Capitol Hill.

GOP leaders say they won’t raise the debt ceiling unless Biden agrees to cut spending.

Biden’s budget blueprint got a big thumbs down from the U. S. Chamber of Commerce.

Neil Bradley, the business group’s head of policy, called the plan a “recipe for economic and fiscal disaster.” Instead of proposing new spending and taxes, Bradley said, the administration should work with Congress to cut spending and lower the federal debt.

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