Biden’s $6.8 trillion budget prompts outcry from Republicans

NEWS AND OPINION:

Republicans are not holding back when it comes to President Biden’s burgeoning budget, which weighs in at $6.8 trillion. That looks like this: $6,800,000,000,000, in case you wondered.

Here’s a few headlines to mull over in the meantime:

“Biden is using his budget as a cudgel in the debt ceiling fight — and for 2024” (National Public Radio); “Biden’s budget lays groundwork for high-stakes battles ahead” (CNN); “Biden proposes $6.8 trillion budget to make rich pay ‘fair share’” (Axios); “Biden’s budget sets up battle with GOP, would cut deficits by $3 trillion over 10 years” (The Wall Street Journal); “Biden pitches soak-the-rich tax plan: Here’s what’s in it” (Fox Business); “10 ways Biden is pushing to increase taxes in his 2024 budget proposal” (Yahoo Finance); “Biden’s budget calls for new taxes on wealthy, deficit cuts. Here’s what the GOP is proposing” (USA Today); and “Biden budget bonanza! Big tax hikes, spending increases, mounting debt” (Breitbart News).

One organization did all the math and offered unsettling insight.

“In his new budget, President Biden raises the current 21% federal corporate income tax rate to 28%, higher than Communist China’s 25%. Industry sectors of strategic use to the Chinese government pay a lower rate of 15% or even 10%. After adding state corporate income taxes, the combined federal-state rate under Biden amounts to about 32%,” advised Americans for Tax Reform, a taxpayer-advocacy group.

“Joe Biden likes to say: ‘Show me your budget — and I’ll tell you what you value.’ If you look at his budget — which is going to send our country $50,000,000,000,000 into debt by 2033 — it’s clear what he values, and it’s not you or your family,” advised Tommy Pigott, rapid response director for the Republican National Committee, in a written statement shared with Inside the Beltway.

Republican lawmakers also offered insight.

“President Biden’s proposed budget is designed to satisfy his base, not to actually become law,” observed Sen. Mitt Romney, Utah Republican, also in a written statement.

Rep. Roger Williams, Texas Republican, blasted the budget but offered some hope.

“Thankfully, with a Republican-led House, these massive tax increases and spending sprees will never see the light of day. As Chairman of the House Committee on Small Business, I am determined to enact pro-growth and fiscally responsible policies that give our nation’s job creators the space to grow and thrive,” he said.

“Biden’s budget shakes down small businesses to fund liberal agenda,” he summarized.

BIDEN, ONE MORE TIME?

Should President Biden run for reelection in 2024? He has certainly been there and done that.

“Biden launched his first presidential bid in 1987 but withdrew from the race. He launched a second presidential campaign in 2007, dropping out of the race following the 2008 Iowa caucuses, where he placed fifth. Then-candidate Barack Obama announced Biden was his choice for running mate in August 2008,” notes a brief history of Mr. Biden’s campaign history published by Ballotpedia.com, a nonpartisan research group.

The arguments and chatter continue about Mr. Biden’s current status. He already suggested months ago, October specifically, that he would make a repeat run for the White House in an MSNBC interview.

A substantial poll conducted by The Associated Press, however, has revealed that Democrats themselves are not so keen on the idea.

“A majority of Democrats now think one term is plenty for President Joe Biden, despite his insistence that he plans to seek reelection in 2024,” the poll advised on Feb. 6, revealing that just 37% of Democrats say they want him to seek a second term.

Meanwhile, a new Economist/YouGov poll also has less-than-ideal news.

It found that 57% of U.S. adults do not want Mr. Biden to vie for the highest office again; that includes 79% of Republicans, 62% of independents and 32% of Democrats.

There are those who disagree. On the opposite side of the fence, 26% of the respondents overall want Mr. Biden to make another run for the White House. That includes 15% of Republicans, 13% of independents and 49% of Democrats.

And 17% are not sure about the issue — including 5% of Republicans, 25% of independents and 19% of Democrats.

See related findings, and the survey particulars, in the Poll du Jour at column’s end.

WEEKEND READING

The Office of the Director of National Intelligence has released the 2023 Annual Threat Assessment of the U.S. Intelligence Community.

“This report reflects the collective insights of the Intelligence Community, which is committed every day to providing the nuanced, independent, and unvarnished intelligence that policymakers, warfighters, and domestic law enforcement personnel need to protect American lives and America’s interests anywhere in the world,” the office said in a statement.

The 40-page unclassified assessment is available for free download.

“The National Intelligence Council stands ready to support policymakers with additional information in a classified setting,” the report also advises.

Find it at ODNI.gov. Click on “Newsroom” in the pull-down menu, then check under the “Reports and Publications” heading.

WEEKEND REAL ESTATE

For sale: The Sheeder Mansion, a historic Federal-style stone home built in 1833 on 12 acres in Spring City, Pennsylvania. Eight spacious bedrooms, four baths, nine fireplaces, center hall, parlor, formal dining room, library, family room, original woodworking and floors, soaring ceilings; 5,920 square feet. Custom chef’s kitchen. Three-car garage, barn, stable and poultry house, in-ground pool, views of fields, orchards and on-site creek “from every window.” The home is priced at $1.5 million through ReMax.com; enter PACT2039842 in the search function.

POLL DU JOUR

• 47% of U.S. adults “strongly disagree” with the following statement: “We need a national divorce. We need to separate by red states and blue states.”

• 15% “somewhat disagree” with the statement.

• 16% “somewhat agree” with the statement.

• 7% “strongly agree” with the statement.

• 15% are not sure.

SOURCE: An Economist/YouGov poll of 1,500 U.S. adults conducted March 4-7.

• Follow Jennifer Harper on Twitter @HarperBulletin.