Are we heading for the mother of all budget showdowns?
President Joe Biden’s $6.8 trillion budget proposal, released Thursday, is more than just a Democratic wish list for government spending, taxation, and deficit reduction.
It’s a statement of values. It’s an opening bid in critical negotiations with Republicans over Social Security and other increasingly insolvent safety-net programs and, most urgently, the need to raise the statutory limit on the federal government’s ability to borrow money. And it’s a signal moment in the soft launch of President Biden’s expected 2024
