Biden Unveils $6 Trillion Budget That Will Raise Federal Spending To Highest Post-WW2 Level
May 27th, 2021Via: ZeroHedge:
US stock futures soared Thursday morning as President Biden unveiled his first federal budget, which calls for the government to spend $6 trillion in the 2022 fiscal year, with total annual spending set to increase to $8.2 trillion by 2031.
Stocks initially kneejerked higher, then retreated on the headlines reporting the proposed budget, which Biden can pass through the Senate using budget rules that allow Dems to circumvent the filibuster. According to the NYT, it calls for the highest sustained levels of federal spending since World War II.
