Democratic presidential candidate Joe Biden’s economic proposals would increase federal spending by $11 trillion over the next 10 years, increasing the deficit and potentially leading the U.S. toward a debt crisis, experts said.
Vice President Joe Biden’s plans, ranging from health care and social security to climate and infrastructure, would far exceed projected tax increases, according to an October 2020 Manhattan Institutebudget report. With tax revenue projected to increase by $3.6 trillion over ten years under Biden, his administration would oversee a deficit increase of $7.4 trillion by 2030.
Brian Reidl from the Manhattan Inst. joins Rod today at 5:35pm to review the report.
Read The Daily Caller
https://dailycaller.com/2020/11/01/joe-biden-economic-proposals-increase-spending-11-trillion-10-years-increase-deficit-debt/
Photo - Getty Images