We're gonna need more printing presses

[Crazyhole]

Biden to propose $6T budget, increasing federal spending to highest sustained level since WWII: report

President Biden is set to propose a budget totaling $6 trillion in the coming days, The New York Times reported early Thursday, about a third higher than pre-pandemic spending levels.The proposal w…

thehill.com

That's a lot of money.

 

[hemightbejeremy]

Ooh wee this is going to fire up some people 🔥

 

[Crazyhole]

Ooh wee this is going to fire up some people 🔥

It should. We've been doing this for far too long, and now we're just doubling down. It probably isn't sustainable to have government spending at 30% of GDP and printing at 10% of GDP.

 

[hemightbejeremy]

Will be interesting to see where the extra 1.2 trillion is planned to go to and what the projected federal revenue and deficit is once the CBO analyzes it. It seems high. But we are dealing in exponential growth a bit which makes the dollar amount seem staggering. The 8 trillion in 2031 may actually be low given historical trends. Clinton’s last budget was 1.9 trillion, but Bush’s last was 3.5 trillion, an 84% increase over 8 years. Conversely, 8 years later, Obama’s last budget was 4.2 trillion or a 20% increase over 8 years. The last Trump budget was 4.8 trillion or a 14% increase in 4 years. A rise to 8.2 trillion would be about a 70% rise over 10 years which is somewhere in the middle historically. But the good news is it may be used on things other than 2 wars on “terror”.

 

[Boston.Knight]

Biden to propose $6T budget, increasing federal spending to highest sustained level since WWII: report

President Biden is set to propose a budget totaling $6 trillion in the coming days, The New York Times reported early Thursday, about a third higher than pre-pandemic spending levels.The proposal w…

thehill.com

That's a lot of money.