Biden's economic agenda is a tiny fraction of what the US government will spend over the next decade
Democrats in Congress are fiercely negotiating over two bills that would make up President Joe Biden's domestic economic agenda: A bipartisan infrastructure bill that would add $550 billion in new spending, and a social spending bill to be passed in reconciliation worth as much as $3.5 trillion.
Those top-line spending figures are a big sticking point for centrist Democrats Sen. Joe Manchin and Sen. Kyrsten Sinema.
But there's an enormous catch: Both bills are designed to spread spending out over a decade. And looking at the federal government's projected other outlays over the next 10 years gives a little perspective - the current proposals are just a fraction of what the government spends on the military and support for older Americans.
The Congressional Budget Office regularly publishes estimates for what the US government will likely spend on programs such as defense, Social Security, and Medicare over the coming years. Totaled up between the 2022 and 2031 fiscal years, those estimates dwarf the current spending proposals:
https://www.msn.com/en-us/news/politics/this-jarring-chart-shows-bidens-economic-agenda-is-a-tiny-fraction-of-what-the-us-government-will-spend-over-the-next-decade/ar-AAPae93
= new reply since forum marked as read
