How Much Does It Cost?

Yesterday The Daily Wire posted an article about the budget reconciliation plan that is currently working its way through Congress.

The article reports:

A group of analysts predicts that Congressional Democrats’ $3.5 trillion budget reconciliation plan could actually cost up to $5.5 trillion.

As The Daily Wire recently reported, lawmakers are attempting to ram spending proposals through Congress without Republican approval. Their budget incorporates portions of President Biden’s American Families Plan and American Jobs Plan.

The Committee for a Responsible Budget has stated the following:

While the actual cost of this new legislation will ultimately depend heavily on details that have yet to be revealed, we estimate the policies under consideration could cost between $5 trillion and $5.5 trillion over a decade, assuming they are made permanent. In order to fit these proposals within a $3.5 trillion budget target, lawmakers apparently intend to have some policies expire before the end of the ten-year budget window, using this oft-criticized budget gimmick to hide their true cost.

…Based on these sources, we estimate policies in the fact sheet would cost about $5 trillion over a ten-year period. Including additional policies not explicitly mentioned but rumored to be part of the package, and incorporating possible estimating differences between the Office of Management and Budget (OMB) and the Congressional Budget Office (CBO), the cost could rise to $5.5 trillion.

The article concludes:

Economists from the University of Pennsylvania’s Wharton School explain that deficit spending discourages investment in private ventures, thereby cutting innovation and business growth:

The government collects real resources via voluntary transactions with economic agents who are willing to trade real resources today for the promise of real resources in the future. Debt buyers, including U.S. households saving for retirement, view this debt as savings, which reduces their savings in private investment. This substitution is called the ‘capital crowding-out effect’ from government debt issuance.

With $1 trillion in deficit spending, capital stock would fall 0.78% by 2050; with $10 trillion in spending, capital stock would fall by 8.59%.

If you add tax increases to that picture, the future of the American economy looks even worse.

Looking For A Few Patriotic Democrats In The Senate

Remember the campaign promise by President Biden that he would bring back unity. Well, his definition of unity is when everyone does what he wants them to do. There is no room for any other action or opinion. That is becoming very obvious in the way the infrastructure bill is being handled.

Just the News is reporting today that the bipartisan infrastructure bill that was worked out that did not include the $1.8 trillion American Families Plan will be modified to include the $1.8 trillion American Families Plan and then passed by reconciliation in the Senate. If you are not familiar with the Cloward-Piven strategy, this would be a really good time to look it up.

The article reports:

House Ways and Means Committee Chairman Richard Neal told Just the News that there will be a filibuster-proof reconciliation bill passed in the Democratic-led House that includes President Biden’s entire American Families Plan.

The article concludes:

Neal was asked if he thinks the entire American Families Plan will be weaved into a reconciliation bill if it’s left out of the bipartisan infrastructure framework congressional negotiators have reached with the White House.

“Yeah, it seems to be as though, based on some of the early comments the president had that it looks to me, not knowing all the details yet, that there’s going to have to be a reconciliation bill,” Neal said on Thursday. 

The $1.2 trillion bipartisan framework does not include the new spending programs that would be created if Biden’s American Families Plan is enacted. 

Essentially, the bi-partisan agreement that was worked out is going to be scrapped in favor of what the Democrats wanted in the first place. Hopefully there might be a Democrat in the Senate that would vote against this, but I wouldn’t count on it.

Bipartisanship Doesn’t Really Mean The Same Thing To Everyone

The Epoch Times posted an article today about a bipartisan deal on infrastructure spending reached between the White House and a group of Senators. Sounds pretty good, doesn’t it. Well, not so fast.

The article reports:

Biden appeared alongside a group of lawmakers, including Sens. Mitt Romney (R-Utah), Mark Warner (D-Va.), Rob Portman (R-Ohio), Kyrsten Sinema (D-Ariz.), Bill Cassidy (R-La.), Joe Manchin (D-W.Va.), and others.

“To answer the direct question, we have a deal,” Biden told reporters at the White House. “We have made serious compromises on both ends.”

The announcement came after senators worked for weeks to craft a package that would garner enough support from both Republicans and Democrats. According to a fact sheet released by the White House on June 24, the bill would be worth about $1.2 trillion and would make investments in “clean transportation infrastructure,” as well as “clean power infrastructure” and the “remediation of legacy pollution.”

According to drafts of the agreement, lawmakers sought $579 billion of spending above expected federal levels that totals $974 billion over a five-year span and $1.2 trillion if it continues over the course of eight years.

But despite the bipartisan agreement announcement, it isn’t yet clear if certain Democrats or Republicans would support it.

So far, it sounds pretty bipartisan, but wait…

The article concludes:

Hours after the announcement, Biden told reporters that he wouldn’t sign the measure unless the American Families Plan was also passed by Congress.

“Less than two hours after publicly endorsing our colleagues’ bipartisan agreement on infrastructure, the President took the extraordinary step of threatening to veto it. That’s not the way to show you’re serious about getting a bipartisan outcome,” said Minority Leader Mitch McConnell (R-Ky.) on the floor of the Senate.

But Portman, one of the Republicans who support the bipartisan agreement, said on June 24 that it’s important that Democrats and Republicans were “able to come together on a core infrastructure package.”

Manchin also praised the deal, saying it’s a “tremendous opportunity for us to show the rest of the world that we can still get big things done in a bipartisan way.”

That’s not bipartisan–either the infrastructure bill as a product of bipartisan negotiations gets signed on its own merits or you have broken the implied promise of the bipartisan negotiations. It is quite possible that the negotiations on the infrastructure bill were strictly for show so that the Republicans can be blamed when President Biden refuses to sign it. Those in Washington have forgotten who they are supposed to represent. Congress and the Presidency have become one big political power game. It is time to unelect anyone currently in office who is not properly representing the interests of the voters.

Definitely Heading Down The Wrong Path

The Epoch Times posted an article yesterday (updated today) about President Biden’s first 100 days in office. The article notes that the moderate, unifying President we were promised during the election campaign has not shown up yet.

The article reports:

President Donald Trump and conservative pundits warned for months during the 2020 campaign that behind then-candidate Joe Biden’s centrist, bipartisan façade lay a radical liberal agenda to transform the United States. Biden has proven them right in less than 100 days, earning praise from liberal observers who are drawing historical comparisons to the tenure of President Franklin D. Roosevelt.

The $1.9 trillion pandemic relief bill, written along the outline of Biden’s proposal, dwarfs FDR’s New Deal in terms of total cost to the American taxpayer. Democrats rammed the measure through Congress without any Republican support, proving Biden was the partisan that critics had warned about.

The Democratic president’s proposed infrastructure measures—the American Jobs Plan and the American Families Plan—would bring the total price tag to an estimated $5.4 trillion, while ushering in a wave of welfare programs unseen since the introduction of Medicare and food stamps. The cost splits up to more than $43,000 per household and more than the combined wealth of all the billionaires in America. Democrats could enact both plans without any Republican support, by using, for the first time ever, the reconciliation process more than once in a budget year.

The fiscal scale and radical nature of the agenda, coupled with the razor-thin House and Senate majorities the Democrats are using to implement it, are exerting pressure on an American system of governance that has historically demanded a measure of bipartisanship in order to enact transformative change.

The article concludes:

Though his cabinet wouldn’t admit it, Biden inherited a successful vaccine development and distribution program from Trump. This meant that Biden’s campaign promise of injecting 100 million Americans with the vaccine against the CCP virus in his first 100 days was on track to being fulfilled even before he took office on Jan. 20. After eluding questions about raising the target to a more ambitious figure, Biden doubled the goal to 200 million. The administration is now on pace to triple the initial goal by April 29, his 100th day in office.

That tangible highlight is offset by the crisis on the southern border, which some experts say was triggered by Biden’s revocation of Trump-era immigration policies. Illegal aliens are crossing the border in numbers unseen in decades, forcing immigration authorities to overload shelters for housing detained minors. After weeks of avoidance, Biden finally called the situation a crisis earlier this month.

The White House has signaled that it intends to solve the crisis by investing in the countries the illegal aliens are fleeing from. Over the past two decades, the United States has spent billions in foreign aid to the nations in question.

Biden’s approval ratings have fluctuated between the high-40s and mid-50s during his first three months in office, according to Rasmussen, the only pollster conducting daily presidential approval surveys. The media may be contributing to that outcome. A recent Media Research Center study showed that evening news coverage of Biden was 59 percent positive during his first three months in office, compared to just 11 percent positive coverage during the same period in Trump’s presidency.

A supportive media cannot cover up the negative impact of President Biden’s policies forever. As inflation increases (as a result of the runaway spending) and the influx of illegal immigrants further increases federal spending, Americans may begin to believe what they see rather than what they are being told.