President Joe Biden unveiled the biggest spending plan yet since World War II, coming in at a whopping $6 trillion. What does that mean for the cost of public debt? The plan covers the $1.9 trillion pandemic stimulus bill from March, as well as the $2.3 trillion American Jobs Plan, the $1.5 trillion American Families Plan, and the $1.5 trillion in discretionary spending increases. This comes as Republicans put up a $928 billion infrastructure counteroffer.
With the rise in spending, public debt is also expected to go up. Ever wonder how much the average American pays in taxes over the course of their lifetime? A new report finds the average American pays over half a million in lifetime taxes.
