(Worthy News) – President Joe Biden’s budget proposal, which the president released today, calls for the federal government to collect a record $4,638,000,000,000 in taxes in fiscal 2023.
At the same time that the federal government is collecting those record taxes, according to Biden’s proposal, it would also spend $5,792,000,000,000—resulting in a fiscal 2023 deficit of $1,154,000,000,000.
The record $4,638,000,000,000 in taxes Biden proposes collecting next year is up from the $4,437,000,000,000 it estimates the federal government will collect this year and the $4,184,714,000,000 (in constant February 2022 dollars) that the federal government did in fact collect in fiscal 2021. [ Source: CNS News (Read More…) ]
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