Someone needs to make Democrats pick which social programs to scrap, writes jonathanchait
The Congressional Budget Office published a report Friday measuring the cost of the Build Back Better bill as if all the spending it created were to be made permanent, rather than sunsetted, as much of it will be. The agency found the bill would, under those circumstances, increase the deficit by about $3 trillion.
At that point, Democrats needed to make some hard choices about which programs to prioritize and which to set aside for the next time they control government. Instead, they … didn’t. That’s why they ended up gaming the timing of their programs, essentially stuffing five pounds of sugar into a two-pound bag.
So Manchin’s expressed fear that the true cost of Build Back Better will simply be funded by borrowing is misplaced. So, too, is his worry that it will aggravate inflation. But the concern that the bill’s funding expires is very serious.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden, Manchin to speak Monday afternoon on Build Back Better bill, White House saysPresident Joe Biden will speak on Monday afternoon with West Virginia Sen. Joe Manchin, a centrist West Virginia Democrat who hasn't endorsed Biden's roughly...
Read more »
Dems hustle for year-end deal as child tax credit cliff loomsDemocrats are hoping a year-end cliff with 35 million families on the line can finally shake a deal loose on President Joe Biden’s marquee bill
Read more »
How Taylor Swift's 'Red' Predicted The Post-Internet EraYou already know we're spending the sacred holiday that is Taylor Swift's birthday by listening to Red.
Read more »
Keanu Reeves Thinks NFTs Are A JokeFinally, an honest celebrity response to the existence of NFTs.
Read more »
The Best And Worst Trader Joe's Products I Tried This Year (From Someone Who Shops There Too Often)I browsed the aisles of Trader Joe's all year long, and here's what I discovered.
Read more »
Sarah Jessica Parker -- Good Genes or Good Docs?!Here's the 21-year-old version of the ageless beauty back in 1986 and 35 years later ... The now 56-year-old 'Sex And The City' actress at the premiere for 'And Just Like That' a few days ago. The question is ... Good Genes or Good Doc?!
Read more »