continues to face supply chain bottlenecks that have helped drive up costs across the country, the president is also looking to speed up the movement of goods through ports with $230 million for ports development and $1.7 billion for the Harbor Maintenance Trust Fund. The Biden administration is also focused on efforts to tackle affordable housing with a $50 billion proposal for housing construction and supply to address the existing market gaps and help stabilize the housing market over the long term.Īs the U.S. "It's to fund our police, and give them all the tools they need - training and foundation and partners and protectors that our communities need." "I've said it before - the answer is not to defund our police departments," Mr. But the country has been hit with the fastest inflation in 40 years, with prices up 7.9% from one year ago, and the national debt topped $30 trillion for the first time in history this year. added more than 6.5 million jobs as the United States digs out from the coronavirus pandemic. Last year, the economy grew by a record 5.7% as the U.S. Biden particularly blasted his predecessor's "fiscal mismanagement," and said his administration is "reducing the Trump deficits." President Joe Biden listens to a question from a reporter about Russian President Vladimir Putin after speaking about his proposed budget for fiscal year 2023 in the State Dining Room of the White House, Monday, March 28, 2022, in Washington. The president said his budget sends a "clear message that we value fiscal responsibility, safety and security at home and around the world, and the investments needed to continue our equitable growth and build a better America." In remarks Monday, Mr. Second, safety and security and thirdly, investments needed to build a better America." Well the budget I'm releasing today sends a clear message to the American people what we value. "Don't tell me what you value - show me your budget and I'll tell you what you value. Show me your budget - I'll tell you what you value,'" Mr. "My dad had an expression, he said 'don't tell me what you value. This is the first step in the lengthy budget process and comes just weeks after Congress passed the omnibus spending bill for the rest of 2022. In it, President Biden lays out his priorities for the coming year, which could be pivotal heading into the midterm election. The Biden administration on Monday unveiled the president's budget proposal for 2023, totaling more than $5.7 trillion in spending and including a new tax on billionaires as the president looks to lower the deficit moving forward.
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