White House budget aims for 8.4% FY 2022 increase

Budget data

• 2022 discretionary budget is $1.52T, up 8.4% from FY 2021
• Budget excludes emergency and other non-base funding
• Non-defense up 16%, Defense up 1.7%
• Expects to submit full budget to Congress in late Spring

There is a global race to spend as much as possible and the bond market doesn't care. Policymakers have discovered the magic money tree and it will continue until it ends. I suspect it will be awhile.