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Biden’s Budget Plans at the First Year of Presidency
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Biden’s Budget Plans at the First Year of Presidency
Annotation
PII
S207054760017749-0-
DOI
10.18254/S207054760017749-0
Publication type
Article
Status
Published
Authors
Pavel Aksenov 
Affiliation: Institute for the U.S. and Canadian Studies of the Russian Academy of Sciences
Address: Russian Federation, Moscow
Edition
Issue 4
Abstract

President Biden’s 2022 budget is providing a starting step for increasing non-defense appropriations. Budget plans of the presidential administration, being under the needs of continuing struggle against pandemic, show the necessity of financing social programs after previous budget cuts, wide range measures for meeting climate changing challenges; modernizing infrastructure. Besides medical services, education, job training, assistance for needy families, the budget plans tend to support roads all over the country, traffic control, rural development, protecting environment. The Budget statement puts special attention to the American Rescue Plan, calling it turning the corner on the pandemic, economic recovery, and having in mind the priorities of this Plan. At the same time the proposed expenditures lead to facing fiscal challenges and may worsen budget deficit outlook. The costs of budget proposals may be partly offset by the growing economy; but due to Congressional Budget Office projections the budget deficit and the public debt remain huge.

Keywords
budget policy, pandemic COVID-19, federal budget, U.S.
Received
09.09.2021
Date of publication
16.12.2021
Number of purchasers
11
Views
814
Readers community rating
0.0 (0 votes)
Previous versions
S207054760017749-0-1 Дата внесения правок в статью - 16.12.2021
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