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What to Love (or Not) About the Biden Budget

On April 9, President Biden officially sent to Congress what is known as the “skinny budget” – a 58-page summary of a much larger and more detailed budget proposal to be submitted later this spring. The skinny budget contains only the “top-lines,” or total request levels, for each category of spending, with minimal details about how the funds will be allocated among specific programs. We found a lot to love about the proposal, even in its skeleton form.

Pentagon Spending is the Least Effective Way to Create Jobs after COVID-19

As Congress works to get Americans back into jobs lost in the COVID-19 crisis, it must focus on proven solutions. Dollar for dollar, spending on the Pentagon and national defense creates fewer jobs than other top industries. According to a Brown University study, $1 billion invested in education will create over twice as many jobs as $1 billion spent on the Pentagon.

Congressional Timeline on Pentagon Spending

Congress must take many steps to set the Pentagon’s final budget. For the fiscal year starting on October 1 (FY 2018), Congress and the president have already agreed to fund operations through December 8, 2017 at last year’s spending rate. Between now and then they still must reach a deal on the full year’s budget, or buy still more time.