US President Joe Biden has proposed a $6 trillion budget for the fiscal year 2022.
Biden had on Friday laid out details of the budget which CNN described as a proposed dramatic increase in federal spending that serves as the underpinning of an economic agenda that seeks to transform the American economy as the country emerges from dual public health and economic crises.
The budget proposal, which is an opening bid in negotiations with Congress and is expected to change before being signed into law, harps on the most sustained period of spending in more than half a century.
The US president had in the address on Friday expressed hope that the economy is back on track.
“Before I took office, independent experts were projecting that the economy would grow at 3 or 4% this year.
“They are now projecting growth of well above 6%, the fastest growth in this country in nearly 40 years,” he said.
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