May 28, 2021 - Politics & Policy
By the numbers: Federal spending keeps rising
President Biden will call for $6 trillion in government spending next year when he unveils his FY2022 budget on Friday, as the New York Times first reported.
The big picture: Annual government spending has been rising for years, but it spiked last year because of the nation's coronavirus recovery efforts.
- Although the most recent OMB data estimated government spending to be $4.8 trillion in 2020, the federal government ended up spending $6.55 trillion when coronavirus relief measures were included, according to USAspending.gov.
By the numbers: Biden's first budget proposal includes his massive infrastructure and education and families plans.
- If enacted, it would be the most sustained federal spending in more than 50 years and would drive the federal deficit to more than $1.3 trillion over the next 10 years, according to the Times.