What's behind Biden's $6-trillion budget for fiscal year 2022?
US President Joe Biden has announced his first annual budget, a $6 trillion dollar spending plan for fiscal year 2022. The budget will bring the US federal expenditure to the highest level since World War II, and it’s estimated the deficit could exceed $1.3 trillion dollars in the next decade. But will Biden’s proposal be implemented smoothly? Who will pay for the deficit? And what impact will his plans have on the US relationship with China?
To find out more, we’ve invited professor Jeffrey Sachs at Columbia University, who is director of the UN Sustainable Development Solutions Network; Andy Mok, senior research fellow at the Center for China and Globalization; and Steve Keen, Crowdfunded Professor of Economics on Patreon.