The Congressional Budget Office (CBO) came out with news that surprised no one with a basic understanding of economics, however, the left found a way to twist and contort the report to fit their narrative. They celebrated the CBO tweet reading “CBO estimates that the funding for tax enforcement activities provided by H.R. 5376, the Build Back Better Act, would increase outlays by $80 billion and revenues by $207 billion, thus decreasing the deficit by $127 billion, through 2031.”
However, this celebration was short-lived. They misread how the CBO is keeping score for this bill. It is tricky for sure, but it makes sense. The actual implication is that it would add on $159 billion to the deficit through various programs and the restructuring of their funding. So while ‘on the surface’ it wouldn’t cost a dime, it’s playing shell games with the debt it is adding on. The people would still feel the sting of the BBB if it’s implemented.
This huge gap in the deficits comes from Biden being a very bearish estimator with his new revenue growth estimates. In some spots being 50% over the actual expected increases. This isn’t just peanuts, but some serious coin he would be costing the American people. Now the $159 billion add-on referenced earlier is after including the new revenue for increased tax enforcement; something that is only a rough estimate, to begin with, and something that only finds money AFTER giving the IRS $207 billion to find it. The old ‘spend money to make money’ thing.
The BBB is a joke, and it comes from a tool of a President. Someone who can barely construct intelligent sentences these days, and someone that the American people laugh at frequently. Someone they cannot take seriously, and someone that needs to quietly go away from public life here in America. With it recently clearing the House of Representatives it now makes its way towards the Senate.
Senators Manchin (D-WV) and Sinema (D-AZ) stand in the way to destroy the BBB from passing the Senate, and they need to hold fast. This can completely destroy the American economy from the inside out. People are looking to these Senators to stay the course and remain steadfast in their support of the American people’s right to choose their fate. The BBB on the other hand looks to strip those rights away and make it nearly impossible for the people to make their own decisions.
From banking to medical care to the energy our country uses to enjoy our lives. This plan can and quite possibly would cripple our country. With an already overinflated dollar, an economy on a tipping point, and people having to choose between medication and heating bills, is more Government interference needed? It was their own mistakes that put us in the position in the first place, not the American people.
If this should pass, I think a lot of the ‘threats’ when Trump won office will come true. You will see people requesting asylum in other countries. You will see more people looking to go off-grid in rural parts of the country. You will see people shying away from this Government as much as humanly possible. With all the global instability due to COVID this is not a time to be passing a plan that seeks to turn America towards a third world with progressive politics. Now is the time to get the people to band together to fix the problems.