It’s time for Democrats to give up on their lie that President Biden’s Buil Back Better spending plan will cost zero dollars. Despite the fact the claim makes no sense Democrats have hoped if they can continue repeating the lie then it’ll turn to truth.
Now, The Wall Street Journal is even attacking the claim calling it the “lie of the year.”
According to The Wall Street Journal:
We’ve been telling you for months that the plan’s advertised cost of $1.75 trillion over 10 years includes multiple budget gimmicks that disguise the real cost. The Penn Wharton Budget Model has scored the 10-year cost at about $4.6 trillion, but the White House keeps claiming against all evidence that the cost is “zero.”
Now comes the Congressional Budget Office to report that the claim of zero cost is a Big Con. CBO, a political outfit beholden to Congress, can’t be so blunt. It is constrained by budget conventions imposed by Congress. But even under those conventions, CBO has said the bill would add $200 billion to the deficit over 10 years.
Take the child allowance, which Democrats say will cost only $185 billion because it ends after one year. No one believes they won’t extend it next year, and the year after that, ad infinitum. CBO says the real cost over 10 years is $1.597 trillion. Democrats also peg their earned-income tax credit expansion at a cost of $13 billion because it too ends after one year. CBO says the real cost is $135 billion over 10 years.
…
Democratic leaders Nancy Pelosi and Chuck Schumer reacted furiously to this news, falling back on their claims that the Build Back Better Act is “fully paid for.” Mrs. Pelosi says CBO has scored Mr. Graham’s “imaginary bill.” But her bill is the real fiscal fantasy and “fully paid for” is the lie of the year.
It’s time to give it up Biden.
