2 Charts: Comparing Biden’s Federal Budget to Your Household Budget

Commentary
In his most recent resources, President Joe Biden proposes that the federal government spend billion more than it will absorb, increasing the already unsustainable federal loan by$ 17 trillion over the next ten years.
But these 13- and 14- number money amounts have much meaning for regular Americans whose income, spending, and debt are usually in the five- and six- figure amounts. Translating Biden’s expenditure down to the house level provides a better perspective—albeit a terrible one.
His proposal has the government spending$ 7.3 trillion in 2025, rising to$ 10.3 trillion in 2034, with the federal debt climbing from$ 37 trillion to$ 54 trillion, even after accounting for$ 1.4 trillion in tax increases on the “wealthy Americans and big corporations”….

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