Current Administration:
We will spend more money to solve this problem that was created by spending too much money!
— Amy Nixon (@texasrunnerDFW) June 28, 2024
- Infrastructure and Climate Spending:
- President Joe Biden has pushed for $1.6 trillion in climate and infrastructure investments. This includes tax credits, direct spending, and grants.
- Approximately $125 billion has been spent under Biden’s infrastructure and pandemic relief laws, while an additional $89 billion has been announced under other laws.
- Notably, the Inflation Reduction Act allocates $145 billion for energy and climate programs, with roughly $60 billion in tentative funding decisions announced1.
- Overall Budget:
- The federal government’s total spending is substantial. In 2023, it included:
- Transfers: $3.19 trillion (redistribution)
- Aid to States: $1.15 trillion
- Interest: $0.95 trillion
- Purchases: $0.84 trillion
- Worker Compensation: $0.56 trillion.
- The federal government’s total spending is substantial. In 2023, it included:
- Biden’s Proposed Budget:
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