Biden unveils largest US budget in history fueled by massive social spending

President Biden on Friday released his massive $6 trillion budget for fiscal 2022 pushing a surge in spending on social programs and broadly defined infrastructure through tax hikes on businesses and higher-earners.

The budget — which would set the US on course for higher spending as a percent of the economy than ever before and continue to balloon the national debt — calls for a 16-percent increase in non-defense spending. But it’s also an aspirational document that requires Congress to enact it. Critics of Biden’s first budget say it would undermine the economic recovery with higher taxes and inflation as COVID-19 fades.