Joe Biden is set to start a long pitched battle with Republicans
Credit: REUTERS
Joe Biden is set to unveil plans on Friday for the biggest sustained US government spending since the Second World War in a record-shattering proposed budget for next year.
It would amount to more than one quarter of America s gross domestic product (GDP) and see annual spending rising to a projected $8.2 trillion by 2031.
The proposal will mark the start of a long pitched battle with Republicans ahead of the deadline for approval of a budget at the end of September.
Under Mr Biden s plan, the budget deficit would be $1.8 trillion in 2022 despite the economy rebounding from the pandemic with projected growth of 5 per cent this year, and 4.3 per cent next year.