Biden pitches $6tn budget to ”reimagine” US economy – MENAFN.COM

Biden pitches $6tn budget to ”reimagine” US economy – MENAFN.COM

US President Joe Biden holds up a list of Republican lawmakers who he said have been "bragging about" his $1. 9tn economic stimulus and Covid-19 relief bill called the "American Rescue Plan" to their constituents back in their districts after voting against it in Washington, as he delivers remarks on the economy at Cuyahoga Community College in Cleveland, Ohio, US. (MENAFN - Gulf Times) President Joe Biden yesterday proposed a $6tn budget to ''reimagine" the US economy and stave off Chinese competition, though driving the United States into record debt - and with Congress first needing to give approval. Announcing the proposed spending, Biden said a post-pandemic United States ''cannot afford to simply return to the way things were before." ''We must seize the moment to reimagine and rebuild a new American economy," he said. The president's annual budget is more a wish list or a message on his priorities than anything else. Congress ultimately decides what money goes where and the current Congress has only the narrowest Democratic majority. Opposition Republicans are leery of any big new role for the central government. Even some of Biden's supporters warn that an economy already set to roar back from the Covid-19