President Joe Biden has cast himself as the defender of Medicare
, and his latest budget focuses, in part, on ensuring its survival — but at the cost of ballooning deficits and an unsustainable overall fiscal situation.
Biden’s budget for fiscal 2024 includes a whopping $6.9 trillion in spending, an increase of $300 billion. The budget also calls for higher spending the rest of the decade, resulting in total deficits of $17 trillion.
Although the proposal includes a bevy of tax hikes, it does not outline a path to a balanced budget, nor does it envision stabilizing the debt. Instead, the federal debt would rise to record highs and keep increasing.
“This is a budget that proposes $5 trillion in new taxes over 10 years and still has a budget deficit over $2 trillion by the end of the
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