Biden to announce plan for $2-trillion deficit cut in budget proposal

Philadelphia, Pennsylvania - President Joe Biden is heading to Philadelphia Thursday to unveil his latest budget proposal and plans to protect Medicare, according to the White House.

President Joe Biden is heading to Philadelphia Thursday to unveil his latest budget proposal.
President Joe Biden is heading to Philadelphia Thursday to unveil his latest budget proposal.  © REUTERS

He’ll visit a union hall where workers are benefiting from his economic plans, the White House said late Sunday, and plans to deliver a speech that outlines his proposals "to invest in America, continue to lower costs for families, protect and strengthen Social Security and Medicare, reduce the deficit, and more."

The budget proposal would cut the federal deficit by more than $2 trillion over 10 years and extend the life of Medicare, the health plan for Americans over age 65, by at least two decades, without cutting benefits, the White House told the Philadelphia Inquirer, though it did not provide details of how Biden would accomplish that combination.

The budget, however, is unlikely to be enacted as Biden proposes, given Republican control of the US House.

Trump meets with backtracking MSNBC Morning Joe hosts Joe Scarborough and Mika Brzezinski
Donald Trump Trump meets with backtracking MSNBC Morning Joe hosts Joe Scarborough and Mika Brzezinski

Plans like this typically serve as an outline of a president’s priorities, and a political marker to contrast with his rivals.

Biden expected to announce reelection campaign

Biden, who spoke at Edmund Pettus Bridge in Selma on Sunday to commemorate the 58th anniversary of Bloody Sunday, will roll out his vision ahead of what’s expected to be a reelection announcement in the coming month.

He has been consistently trying to contrast himself with some Republicans’ calls to scale back Social Security and Medicare.

That topic was a main feature of his recent State of the Union speech, and is already a key piece of Democratic messaging ahead of the 2024 election.

In coming to Philadelphia, Biden will return to a city he has visited often as president, in a state that’s vital to the 2024 election, and where he has deep personal and political ties.

Cover photo: REUTERS

More on Joe Biden: