The budget proposal released by the Biden administration last week calls for almost $5 trillion in new spending over the next decade — that is, outlays in excess of its “baseline” estimate of the spending that would take place without new policies. Some of the extra money would be borrowed, but most of it — $3.6 trillion — is supposed to come from new revenues.
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Home » Analysis & Comment » Opinion | Can the Rich Pay for a Better America?
Opinion | Can the Rich Pay for a Better America?
By Paul Krugman
Opinion Columnist
The budget proposal released by the Biden administration last week calls for almost $5 trillion in new spending over the next decade — that is, outlays in excess of its “baseline” estimate of the spending that would take place without new policies. Some of the extra money would be borrowed, but most of it — $3.6 trillion — is supposed to come from new revenues.
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