White House unveils $7.3 trillion tax-and-spend budget for 2025

[mystery-ak]

White House unveils $7.3 trillion tax-and-spend budget for 2025
By
Zachary Halaschak
March 11, 2024 12:00 pm

The White House on Monday released a proposed budget for fiscal 2025 that contains a wish list of tax increases and spending proposals favored by Democrats.

The budget includes $7.3 trillion in spending and a $5.5 trillion in tax revenue, bringing the deficit for 2025 to nearly $1.8 trillion.

The proposals for new federal spending programs and taxes will not become law this year, given Republican control of the House of Representatives. But they provide a sense of what initiatives President Joe Biden would pursue if he wins a second term.

During a call with reporters, Shalanda Young, the director of the Office of Management and Budget, touted progress the economy has made on inflation and emphasized the positive aspects of the economy under Biden’s just over three years in office.

“This year’s budget comes at a time when it’s clear that the president’s economic strategy of building the economy from the middle out and bottom up is working,” she told reporters. “The economy has added about 15 million jobs. The unemployment rate has remained under 4% for over two years in a row, that’s the record, while inflation has fallen by two-thirds.”

more
https://www.washingtonexaminer.com/news/white-house/2913588/white-house-unveils-7-3-trillion-tax-and-spend-budget-for-2025/

[Smokin Joe]

Of course the economy has added 15 million jobs.  It now takes 2 or 3 jobs to feed your family.  Funny how they never ask how many jobs a person has.

Not to mention the rebound from COVID, where millions were laid off, and are now getting jobs, 2-3 at a time to try to make ends meet. Those jobs aren't 'new', they're replacements for the pre-COVID economy.

[mystery-ak]

House GOP leaders tear up Biden's new $7.3T budget proposal: 'Reckless spending'
GOP leaders said the budget was aimed at pushing a 'left-wing agenda'
By Elizabeth Elkind Fox News
Published March 11, 2024 1:59pm EDT

House Republican leaders are blasting President Biden’s proposed plan for how to fund the government in fiscal year 2025.

"The price tag of President Biden’s proposed budget is yet another glaring reminder of this Administration’s insatiable appetite for reckless spending and the Democrats’ disregard for fiscal responsibility. Biden’s budget doesn’t just miss the mark – it is a roadmap to accelerate America’s decline," read a joint statement by House Speaker Mike Johnson, R– La., Majority Leader Steve Scalise, R– La., Majority Whip Tom Emmer, R– Minn., and GOP Conference Chair Elise Stefanik, R– N.Y.

"While hardworking Americans struggle with crushing inflation and mounting national debt, the President would increase their pain to spend trillions of additional taxpayer dollars to advance his left-wing agenda."

The U.S. national debt is currently just over $34.5 trillion, according to the U.S. Debt Clock.

Biden’s $7.3 trillion budget plan, which he unveiled Monday, includes proposals to hike taxes on corporations and high-income households. It lays out roughly $5 trillion in tax increases overall, which the White House said would be split evenly between corporations and the top 2% of earners.

It also aims to push forward his progressive policies, like dedicating $8 billion over 10 years to the American Climate Corps and $3 billion for the Green Climate Fund, which helps developing countries fight climate change.

more
https://www.foxnews.com/politics/house-gop-leaders-biden-trillion-budget-proposal-reckless-spending

[LMAO]

From the article….

The budget includes $7.3 trillion in spending and a $5.5 trillion in tax revenue, bringing the deficit for 2025 to nearly $1.8 trillion.


Absolutely unacceptable

[DefiantMassRINO]

$7.3 Trillion for what?



The Bureau of Engraving and Printing is going to need more ink and paper to print more money.

[jmyrlefuller]

From the article….

The budget includes $7.3 trillion in spending and a $5.5 trillion in tax revenue, bringing the deficit for 2025 to nearly $1.8 trillion.


Absolutely unacceptable

But Americans will continue to accept it.

[mountaineer]

Peachy Keenan
@KeenanPeachy
Did you think he was going to let some dumb congressman stop him from liquidating your savings and sending it to Ukraine?
10:25 AM · Mar 12, 2024

unusual_whales
@unusual_whales
Biden's newest budget calls for a 44.6% federal rate on investment income and other earnings, per Bloomberg. The plan also calls for taxing assets when an owner dies, ending a benefit that allowed the unrealized appreciation to go untaxed when transfered to an heir.
7:02 AM · Mar 12, 2024

[mountaineer]

Joe Biden's Fiscal Budget For 2025 Includes $16 Million For 2026 World Cup Security Prep
Mark Harris
Published March 12, 2024 8:52 AM EDT|Updated March 12, 2024 8:52 AM EDT
Outkick

With the 2026 FIFA World Cup set to be played in North America, and mostly on American soil, President Joe Biden is already starting to prepare. Part of his pre-game routine is setting aside $16 million to begin Secret Service preparation for the tournament.

The President released his proposed fiscal 2025 budget that included a total of $2.9 billion being allocated to the Secret Service. Of that $2.9 billion, $16 million is directly tied to World Cup security prep.

"The Budget includes $2.9 billion for the Secret Service, including funds to meet both protective and investigative mission requirements," the budget reads. "Of this amount, the Budget includes $79 million for security related to the 2024 Presidential Campaign and inauguration and $16 million to begin security preparations for the 2026 World Cup."

As for how that $16 million would be spent on security preparations remains a mystery, but given that the U.S. has not hosted a World Cup since 1994, preparation measures have certainly changed in 30+ years. ...