Biden's Six Trillion-Dollar MAGA budget

The right way to make America great again

The biggest news from last week came on Thursday. that is, U.S. president Joe Biden stood in front of placards that read “Blue Collar Blueprint For America” and unveiled his Administration’s ambitious proposal. Among the revelations is a proposed 6 trillion spend up in 2022 and running government budget deficits for the next decade. Under those circumstances, the Biden administration will propel the country into its next commercial and social phase of innovation.

$6,000,000,000,000 2022 fiscal budget proposal

The six trillion-dollar budget is a truer ‘Make America Great Again’ budget than anything that has been seen in quite some time. For one, the Biden Administration has opted not to set out an adversarial position of ‘America First’ and isolationism like the Trump administration. Instead, the 2022 proposal is focused on rebuilding its workforce and infrastructure and preparing it for the next few decades.

The Biden Administration is unapologetically bullish on the American Middle class. As such, a great deal of the 2022 budget is directed toward programs intended to rebuild the middle class to its former glory.

Included in the Administration’s proposal are the American Families Plan and American Jobs Plan. The former includes 36.5 billion dollars to subsidize childcare and pre-school. As a result, these programs will bring America more in line with other developed nations that recognize the importance of supporting young families. I think I am part of the global majority that was tired of seeing the erosion of the American middle class.

Deficits for a decade

The programs proposed in the budget require decades-long investments if they are to be implemented correctly. Specifically, I speak of plans that address the country’s crumbling and neglected infrastructure, its reliance on overseas computer-chip manufacturing, and preparedness for climate change. Consequently, the ambitious budget proposal comes with a decade-long string of budget deficits. Republicans (and some democrats) have predictably pushed back on these grounds, clinging to the idea that these essential investments are too costly for America to service.

From my perspective, America can’t afford to pass up the opportunity to invest at this moment. As it stands, historically low interest rates and 10-year treasury yields will mean the burden on America to service its debt will be no more than it was in the previous decade. Even without the favorable conditions in the financing, the country can’t afford to neglect investment in the aforementioned areas. If I may be so bold to say, the opportunity America currently has is its best chance to be great again.