Democrats are doing their best to convince America that the working price tag of their outrageous $3.5 Trillion climate and social spending spree isn’t going to cost any money. The vote happens today for Biden’s agenda, and every Democrat in Washington is working their mouths to convince everyone no money will be necessary to make it work. Because apparently Biden and his Democrat cronies have zero clue how money actually works.
Liberal Democrats are joining forces with the White House in hopes to contend the massive partisan package to a deficit-neutral, hoping that this move will force centrist Democrats to support it. They’re threating to stop supporting the separate Senate-passed deal that amounts to $1.2 trillion, knocking it down in the house, unless their demands are met and this reconciliation bill gets through.
One former GOP budget expert from the senate, says the $0 message strategy that democrats are pushing is a ploy to get things moving as Democrats try to figure out reformation of infrastructure, a potential shutdown of the federal government and the crisis of the debt ceiling.
Bipartisan Policy Center leaders say the package is not likely to be deficit-neutral, however.
One committee predicts it can gather over $2.3 trillion over the next 10 years in revenue to fund the $1.3 trill Child Tax Credit extension programs, infrastructure program, and other safety net programs in the social arena. That leaves only $1trillion left over for Medicaid, energy, immigration, agriculture and justice, though.
The truth is, these bills haven’t been given final cost estimates, and this is the first time he’s seen anything like this. Bills are supposed to have cost estimates before making their way to the senate for voting.
Chris Edwards, who works at the libertarian Institute of Cato, says that taxpayers will be the ones who cover the costs by tax increases now and in the future, as well as through inflation. He also says the levies for corporations are likely to not be as lucrative as Democrats predict, which can hamper economic growth.
When it comes down to it, the plan will have an immediate cost that changes society and will permanently expand the federal and local government’s influence on the lives of Americans, and will cost trillions in the future. Biden isn’t concerned about the cost, because his money is not the money at risk.
Author: Bertha Hansen