The only good thing to be said about President Joe Biden‘s boondoggle of a 2025 budget proposal is that so long as House Republicans do not continue to immolate their own razor-thin majority, it will never become law.
Biden boasts he would inflate the fiscal 2025 deficit to $1.8 trillion. He says he would increase spending by $300 billion to $7.3 trillion and increase revenue by $400 billion to $5.5 trillion. The latter proposition is even more preposterous, considering that he would undo his predecessor’s corporate tax rate cut, which culminated in record corporate tax revenue.
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