‘Build Back Better’ Programs Will Add $3 Trillion to Deficit if Made Permanent, CBO Projects

[Missouri_Mike]

The Biden administration continues to claim that the "Build Back Better" plan will not cost us a penny, but as the CBO just pointed out, and anyone with a functioning brain not diseased with rabid partisanship already knew, that was a lie. These social programs, if implemented, will never be cancelled. Once they are due to sunset the Democratic Party will demagogue the issue and demonizing anyone who opposes extending them as not caring about the people. This is as predictable as the sun will rise and set and anyone who claims otherwise is a dishonest and dishonorable person.

At the request of multiple Republican senators, the Democrats fighting to advance President Biden’s Build Back Better plan, the gargantuan reconciliation package that creates and expands a boatload of social programs, obtained a modified budgetary effects score from the Congressional Budget Office Friday.

The office’s most recent analysis finds that if major provisions in BBB were not embedded with sunset clauses and were made permanent, which Republicans argue is the Democrats’ hidden intention, the bill would add $2.8 trillion more to the national debt over the next decade than the original CBO score projected.

‘Build Back Better’ Programs Will Add $3 Trillion to Deficit if Made Permanent, CBO Projects | National Review

Republicans have argued that Democrats intend to make the programs permanent and only included sunset clauses as an accounting gimmick.

www.nationalreview.com

If the CBO say 3 trillion you can count on it being 6.

 

[basquebromance]

/thread

 

[Natural Citizen]

Plus, we are no longer spending $3 million per day in Afghanistan.

Nobody can say for sure what is getting spent, absent a true audit of the Fed.

Private contractors are still making a fortune, there's no doubt.

If anyone thinks the Fed's audit of itself is ever anywhere near thorough, though, I've got a bridge to sell em.

As it is, the Fed has basically cornered itself into an impossible position, however. And that's something nobody is talking about. The cost of keeping the illusion going is simply becoming too overwhelming. We really are witnessing its last days. It's why they're milking this covid charade for all it's worth. It was very timely and convenient. But it can't last forever. Courts are shutting them down and people are waking up.

BIS will likely be coming out of the woodwork soon. They kind of already have.

 

[busybee01]

Bullshit!

You know nothing about inflation. It is too many dollars chasing goods.

Infusing $3 trillion of borrowed money into already inflated economy is going to make it worse.

You dumbass Moon Bats don't know anymore about Economics than you know about History, Biology, Climate Science, Ethics or the Constitution.

You are spouting bullshit.

It is over 10 years not one to start with. The fact is that the rich and big business are swimming in cash thanks to the Republican tax cuts and the pandemic. Businesses have used inflation to increase their profit margins. Those tax cuts increased the dewficit yet I don't see you demanding they be revoked for at least the rich.

Furthermore, the $3 trillion figure is a lie. The plan is scheduled to be phased out so this report means nothing.

You are the dumb one. You know nothing about anything even as you claim others of doing the same thing. You are a ignorant asshole who wants to use economics, history, biology, climate science, ethics and the Constitution to your advantage.

 

[eagle1462010]

Refuse to ever raise the debt ceiling again. Then this shit will be gone. Fire the gov't employees and return the power for internal affairs to the States.

This is a money laundering bill and nothing more as our corrupt politicians feed at the trough.

 

[busybee01]

The Biden inflation is the worst in 40 years going back to Carter's massive inflation.

Now the stupid sonofabitch wants to infused $3 trillion in worthless borrowed spending into an inflationary economy.

Dat Boy is dumber than a door knob. So are the idiots that voted for him and then ignored the fact he stole the election.

It is the coronavirus inflation. I don't see Republicans offering any solutions because they know this is not man-made. It was the coronavirus that has wreaked havoc on supply chains.

It is not $3 trillion. The programs are phased out so it is not $3 trillion.

You arwe dumber than anything on this planet. You are also a lying cockroach.

 

[busybee01]

/thread

Lindsay Graham is the lying weasel. He voted to increase the deficit through the tax cuts for the rich. They did the same thing. They assumed that the cuts would be phased out. Chris Wallace nailed him on his hypocrisy.

 

[busybee01]

If the CBO say 3 trillion you can count on it being 6.

They are assuming it is not phased out. The bill DOES phase these out so the $3 trillion is completely bogus.

 

[Nostra]

You are spouting bullshit.

It is over 10 years not one to start with. The fact is that the rich and big business are swimming in cash thanks to the Republican tax cuts and the pandemic. Businesses have used inflation to increase their profit margins. Those tax cuts increased the dewficit yet I don't see you demanding they be revoked for at least the rich.

Furthermore, the $3 trillion figure is a lie. The plan is scheduled to be phased out so this report means nothing.

You are the dumb one. You know nothing about anything even as you claim others of doing the same thing. You are a ignorant asshole who wants to use economics, history, biology, climate science, ethics and the Constitution to your advantage.

Name the last govt program that was temporary.

 

[OKTexas]

You are the ones who are being helped by Putin. That makes you a commie.

See post #27.

.

 

[OKTexas]

No one is being paid not to work.

After Paying People To Stay Home, Biden Says He’s Going To Make People Work

When the democrats rammed through Joe Biden's "American Rescue Plan" they basically paid people to stay home and not go back to work. When the pathetic April jobs numbers came out, it became clear that

defconnews.com

.

 

[Synthaholic]

After Paying People To Stay Home, Biden Says He’s Going To Make People Work

When the democrats rammed through Joe Biden's "American Rescue Plan" they basically paid people to stay home and not go back to work. When the pathetic April jobs numbers came out, it became clear that

defconnews.com

.

How long do you think a stimulus check from 6 months ago lasts anyway?

 

[OKTexas]

How long do you think a stimulus check from 6 months ago lasts anyway?

Have those welfare payments for every kid expired? What about the $600 additional unemployment benefits?

.

 

[sartre play]

Am FOR A STRONG MILITARY, but get real, we spend 7 billion a year on defense but cant handle 3 billion to help average Americans get back on track? A situation mostly caused by a world wide pandemic. Guess if you just deny the virus that makes it easier to just blame EVERYTHING on the other political party.

 

[Seawytch]

The Biden administration continues to claim that the "Build Back Better" plan will not cost us a penny, but as the CBO just pointed out, and anyone with a functioning brain not diseased with rabid partisanship already knew, that was a lie. These social programs, if implemented, will never be cancelled. Once they are due to sunset the Democratic Party will demagogue the issue and demonizing anyone who opposes extending them as not caring about the people. This is as predictable as the sun will rise and set and anyone who claims otherwise is a dishonest and dishonorable person.

At the request of multiple Republican senators, the Democrats fighting to advance President Biden’s Build Back Better plan, the gargantuan reconciliation package that creates and expands a boatload of social programs, obtained a modified budgetary effects score from the Congressional Budget Office Friday.

The office’s most recent analysis finds that if major provisions in BBB were not embedded with sunset clauses and were made permanent, which Republicans argue is the Democrats’ hidden intention, the bill would add $2.8 trillion more to the national debt over the next decade than the original CBO score projected.

‘Build Back Better’ Programs Will Add $3 Trillion to Deficit if Made Permanent, CBO Projects | National Review

Republicans have argued that Democrats intend to make the programs permanent and only included sunset clauses as an accounting gimmick.

www.nationalreview.com

Over 10 years. What will our military industrial complex expenditures be over the same period? All of America benefits from the Build Back Better legislation. It will add jobs, which add revenue. There will be a return on investment with BBB.

 

[basquebromance]

There is recognition for the need for broadband, for child care, for job training programs, for transportation. That is all that's very real...people i know have shared that, but they also recognize the fact that money is not unlimited

 

[Lisa558]

No one is talking about making these programs permanent, so this OP is a straw man.

C’mon….even you know that the Santa Claus programs are hard to get rid of once the liberals push them through on a so-called “temporary” basis.

 

[DBA]

Same tired bullshit from wingnuts. You're always outraged by things that "are going to happen" years down the road. It's always in your imaginations what these things are going to turn into, or what will happen later if we pass them now.

Just fear-mongering using ignorance.

Sorry we aren’t all impulsive, short-sighted, adolescent minded idealists.

 

[Lesh]

No one is talking about making these programs permanent, so this OP is a straw man.

Exactly

CBO:
This letter responds to a request from Senator Graham and Congressman Jason Smith for a projection of the budgetary effects, including the effects on interest costs, of a modified version of H.R. 5376, the Build Back Better Act. They specified modifications that would make various policies permanent rather than temporary.

The Congressional Budget Office and the staff of the Joint Committee on Taxation project that a version of the bill modified as they have specified would increase the deficit by $3.0 trillion over the 2022–2031 period. That amount includes three components: effects usually counted in CBO’s cost estimates, the effects of increased resources for tax enforcement, and effects on interest on the public debt. Under long-standing guidelines agreed to by the legislative and executive branches, estimates to be used for budget enforcement purposes include the first component but not the second and third.

In comparison, including the same three components, the version of H.R. 5376 that was passed by the House of Representatives would increase the deficit by $0.2 trillion over the 2022–2031 period, CBO projects. The largest difference between the two estimates stems from an increase in the child tax credit that ends after 2022 in the House-passed version of the bill.

 

[sartre play]

1st we would need the program to pass before fighting about extensions. Keep that hate rolling