Biden Touts New Budget With Tax Hikes, Critics Push Back

President Joe Biden released his 2024 budget Thursday that includes a trove of tax hikes, quickly sparking pushback from critics. The White House said the budget will cut deficits by nearly $3 trillion over the next decade. Critics argued that despite those cuts, the national debt is still soaring, projected to surpass $50 trillion in the next decade. The Committee for a Responsible Federal Budget said despite Biden's claims, U.S. Gross Domestic Product would increase from 98% at the end of this year to a record 110% by 2033.