What's in President Biden's $6 Trillion Budget Proposal : The Indicator from Planet Money President Biden unveiled a massive budget proposal on Friday. We discuss the hefty price tag and ask two economists to weigh in on his plan.

Unpacking President Biden's Big Budget

Unpacking President Biden's Big Budget

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Anna Moneymaker/Getty Images
(Photo by Anna Moneymaker/Getty Images)
Anna Moneymaker/Getty Images

On Friday, President Joe Biden proposed a massive budget. It calls for $6 trillion in government spending for the next fiscal year and would lead to trillion-dollar deficits over the next decade.

Like all presidents, Biden is required to propose to a budget to Congress that includes spending on existing programs like Medicare and Social Security. But he's also making a big push to spend more on infrastructure, healthcare, education and the environment. Some critics are concerned about the record-setting federal debt as well as the possibility that the spending could lead to inflation.

On The Indicator from Planet Money, we take a closer look at the numbers with economics professors Suneye Rae Holmes of Spelman College and Laura Veldkamp of Columbia University.

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