Breaking: President Biden just released his 2024 budget plan. Here's what's in it.
The U.S. relies on debt for much of its spending—but what would spending cuts look like? WSJ explains how much the Treasury relies on debt, where it goes and what happens when the Treasury hits the debt ceiling.released a budget outline for fiscal year 2024
that highlights the president’s policy priorities, calling for increases in funding for defense, immigration, healthcare and clean energy programs. The budget outline calls for Congress to approve $1.7 trillion in discretionary federal spending next year, including $885 billion for defense and roughly $809 billion for nondefense and veterans’ health programs. The overall budget, including non-discretionary entitlement programs like Social Security and Medicare, would cost $6.9 trillion, an increase over the roughly $6.4 trillion the administration expects the federal government to spend in 2023.
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