Source: The Wall Street Journal (behind paywall).
Commenting on the president’s just released budget, WSJ’s editors all but call it insane:
If Mr. Biden gets his way, spending in fiscal 2022 will still be $6 trillion, which is some $2 trillion more than before the pandemic in 2019. Then spending will keep rising and remain a little under 25% of GDP for the rest of the decade. That level has never been reached in a single year since World War II, and the postwar pre-Covid average was 19.4%.
Translation: It is insane to tax and spend at world-war levels when there is no world war.
Continue reading “Biden Is the $6 Trillion Man”