I am tried of Biden's lies.
Biden and his administration continue to claim that the Build Back Better Bill will not cost anything.
This is a bold face lie!
There are three fundamental problems with this statement.
First, the Bill as written has been determined by the CBO to increase the deficit by $367 billion.
Second, the bill includes smoke and mirrors and is full of gimmicks. It includes 10 years of taxes but only includes limited years of the benefits they are so loudly touting: Child care, Pre-K, Child Tax credit. If you include the additional spending of all of these programs for the 10 years of tax collection the Bill adds an additional $2.5 TRILLION of spending and deficits. The charts below show the total spending, taxes and deficit of the Bill as written and of the Bill will all programs present for the 10 years of taxes. There are also two charts that show the components of the spending and their effect.
Third, the US is already running a significant deficit and it's entitlement systems (Social Security and Medicare) are going bankrupt. Combining spending and taxing to claim no cost is disingenuous when the US already has many programs that are not paid for. If the Democrats want to raise taxes, shouldn't they be used to pay for the programs that already exist?
Oh-And this won’t increase inflation?
No comments:
Post a Comment