Former US Treasury Secretary Lawrence Summers said the Biden budget is based on outdated economic forecasts and may pose a risk of overheating of the US economy.
Mr Summers said Mr Biden was right to try to strengthen infrastructure and reduce inequality, but he was concerned about possible large budget deficits.
"I am worried about the risk of overheating in the short and medium term," Summers said in an interview. "
Mr Summers said there was a risk of "some kind of conflict between supply and demand", reiterating that loose monetary and fiscal policy could exacerbate inflation.
Summers said that real economic activity is stronger than some forecasts in the budget, such as the yield on the 10-year treasury bond has exceeded the 1.2% assumed in the budget.
Biden's budget forecast economic growth of 5.2% this year, below the median forecast of 6.5% of economists surveyed by the media.
Summers said he hoped the Biden administration would secure the needed tax increases, lengthen the spending cycle and withdraw previous grants to state and local governments.