Do deficits matter anymore? Biden’s first budget signals they don’t

Do deficits matter anymore? Biden’s first budget signals they don’t

[Ed. – Is this how the WaPo is going to rationalize away the sticker shock of the largest spending spree in the history of the universe?]

President Biden waited to release his first budget until Friday afternoon of a holiday weekend, a signal that the White House wasn’t looking for a lot of attention on its proposal to spend $6 trillion in 2022 — a roughly 35 percent increase from pre-pandemic-era federal government spending.

Many of the initiatives Biden wants to spend more on are popular with the public. He’s calling for more money for education, research, roads and bridges, high-speed Internet for all, universal pre-K, safety-net programs and expanded home health care for the elderly. All together, Biden is proposing the kind of massive expansion of the federal government’s role in the economy not seen since World War II. And, initially, it would be largely funded by borrowing money.

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