President Biden Announces 2023 Budget Proposal

Yesterday, President Biden unveiled his fiscal year 2023 budget proposal at an event at the White House. The budget includes three main tenants: fiscal responsibility, safety and security and investments to ‘build a better America.’ During his speech, he called out former President Trump for ‘running up the federal deficit throughout his time in office.’ And said his proposed $1.3 trillion budget cut would stand to be ‘the largest one-year reduction in the deficit in U.S. history.’ The budget also includes $6.9 billion for the European Deterrence Initiative and NATO, $33 billion to support law enforcement and crime prevention and $26 billion for NASA among other things.