White House to propose US budget worth $6tn over a decade

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US president Joe Biden is set to unveil a budget proposal worth $6tn over the next decade, doubling down on his plans for large-scale government investment in the economy with a bet that inflation will subside after this year’s burst.

The White House budget is expected to be released on Friday after the US president travels to Ohio on Thursday to defend the administration’s economic record and rebut Republican criticism that higher prices and labour shortages are already stymieing the recovery.

“With the pandemic in retreat, our economy is on the move: 500,000 new jobs created each month on average, new unemployment claims dropping by nearly half, and record-setting growth ahead of us,” Mike Donilon, one of Biden’s top aides, wrote in a memo on Thursday morning ahead of the Ohio trip.

The Biden administration’s confidence in its economic strategy has been challenged in recent weeks by data showing an unexpected surge in…

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