Analysis of the Changes Made to the US Draft Budget in the Context of Joe Biden’s Democratic Polity and Agenda (Impact on the Budget Deficit in 2022–2031 and the Economy as a Whole)

Abstract

In this article, the author analyzed the changes made to the US budget bill for 2022–2031, which reflect the increased spending on programs that are the foundation of Joe Biden’s economic policy. As a result of the study, the author comes to the conclusion that the delivering on the electoral promises of the current President, does not stimulate the economy during the crisis period, but inflates the budget deficit and increasingly drives the United States into bad debts. Such a policy brings “relief” to the economy in the short-term, but it is extremely toxic in the long-term prospective. The emerging risks negatively affect the image of the Democrats as a whole, provoking intra-party divisions and giving the Republicans an advantage.