It wasn’t that long ago when Democrats and their media echo chamber were ripping Joe Manchin for his objections to the cost of the Squad’s beloved BBB bill.
And what was the talking point they used to justify the passing of a bill with an unprecedented price tag?
It won’t cost anything. Not one red cent.
Biden: "The cost of the Build Back Better bill in terms of adding to the deficit is zero, zero, zero. Because we're going to pay for it all." pic.twitter.com/sRqBLeD6sA
— Daily Caller (@DailyCaller) October 20, 2021
They all seemed surprised we called BS on those moronic talking points. And then it was sent over to the CBO.
It took a while to go through the mountain of pages in the multi-trillion-dollar paperwork, but the Congressional Budget Office has come back with a price tag for how much those Democrat wish lists and castles in the sky are going to set us back.
The number they came back with? It was definitely NOT ‘nothing’.
Not only was the price tag not offset by new taxes or lower The price tag cited by the CBO was $367 BILLION additional dollars added to the deficit — and by extension, to the national debt.
And his oinion of the CBO suddenly looks a lot different that it did when he wanted their opinion to carry political weight.
Joe Biden On The CBO THEN…
On an interview with Larry King, back in 2010, Joe held it up as the ‘gold standard’, not questioned by either party.
Biden’s agenda costs zero dollars? Not according to the @USCBO or common sense. Even w/a massive tax hike, Biden’s bill will still add $367B to the debt.
— Rep. Andy Barr (@RepAndyBarr) November 19, 2021
“I don’t know one single serious econometric model, from the conservative to the liberals, who would acknowledge anything other than we created a minimum of 1.6 million jobs to – and the estimates from the CBO, which is really a, as you know, the gold standard – no Republican or Democratic questions it – that say we created or saved over two million jobs,” Biden said to King in a 2010 interview on jobs and the economy. —FoxNews
Joe Biden On The CBO NOW…
Suddenly, Biden is doing everything he can to discredit their findings.
However, Biden’s confidence in the CBO has been scrutinized after White House spokesperson Andrew Bates said the nonpartisan body did not have the “experience” to weigh in on an aspect of the president’s Build Back Better agenda. —-FoxNews
Which sets up an interesting problem for his spin doctor, Jen Psaki.
What Are The Implications Of This Soaring Price Tag?
First off, the numbers may not even reflect the full scope of the cost, as the Wharton School’s report indicated. Second, it proves that Joe Manchin’s concerns about this bill were on target. It’s far more expensive that Democrats let on.
While the CBO didn’t score the plan with the extended provisions, the Wharton School at the University of Pennsylvania released a report that pegged the final cost as much higher, $4.6 trillion over 10 years, with the extensions included . The Committee for a Responsible Federal Budget, an advocate of lower deficits, said Monday that the cost of the bill over 10 years with all temporary provisions made permanent would be $4.9 trillion.
Manchin has been wary of adding to the federal debt. He has also expressed concerns that infusing the economy with more federal spending after the $1.9 trillion coronavirus relief package and $1.2 trillion bipartisan infrastructure plan could further increase inflation, which is clocking in at 6.2% for the year ending in October.
Why is Joe trying to discredit the findings of a group he defended before? Becasue he doesn’t care about the organization, he cares about scoring political wins, and exercising political power.
It will almost certainly get through the House. The Senate, on the other hand is another question entirely.