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Biden unveils Americas "skinny" budget plans


President Joe Biden has unveiled his plans for the US Governments spending budget recently and it has received backlash from certain groups and individuals due to its military spending.


Biden’s budget involves a small increase of 1.6% to $715bn, adjusted for inflation, towards Defense has been criticised by Republican senators such as Mitch McConnell.


Mr McConnel issued a statement alerting Americans that Biden’s plan sent “a terrible message.”


This is because the budget involves cutting Overseas Contingency Operations.


There are fears that the small increase in spending, as well as spending cuts, shows America’s adversaries such as China, Russia, North Korea and Iran that America is weakening and can be pushed over.


However, the military spending has seen criticism from the Democrats as the U.S still allocates over half of its budget towards the military, the highest of any country.


Democrats state that missile spending especially is a waste of resources that could be used in other sectors of the economy.


Biden’s budget plan does somewhat address these criticisms, the entire budget is worth $1.5tn and is an 8% in base funding from the previous year.


The budget involves large increases in spending in Education, Commerce, Health services and Environmental protection of 40.8%, 28.1%, 23.1% and 21.7% respectively.


Treasury Secretary Janet Yellen says that the budget “makes things fairer.”


The increased spending in education is designed to fund underfunded public schools to enable the children of lower-income families to receive greater opportunities and equality of opportunity.


The budget will mainly address the previously listed issue as well as public transit, toxic site clean-ups, foreign aid as well as increased background checks on gun sales.


The budget plans to spend no money on border walls, instead opting to spend millions to deal with the humanitarian crisis at the U.S and Mexico border.


The budget also aims to allocate $14bn towards reducing greenhouse gas emissions from American firms, a complete reversal from the Trump Administrations attitudes.


However, the budget is an early plan and does not include Bidens $2tn infrastructure proposal as it is a “skinny budget.”


The larger budget will be revealed in the coming weeks with the full budget being announced in Spring.

The full budget will include how the U.S government will make its revenue to be able to spend this money as well as including the deficit or debts which the U.S government has to pay back and any additional information.


Biden’s proposal clearly illustrates that he wishes for America to become a much fairer nation where individuals can take on opportunities they weren’t able to beforehand with the increased spending in sectors that aim to enhance social mobility.

 

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