{"id":300777,"date":"2021-07-16T01:39:22","date_gmt":"2021-07-15T22:39:22","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dont-be-fooled-dems-3-5t-bill-would-still-kill-the-economy\/"},"modified":"2021-07-16T01:39:22","modified_gmt":"2021-07-15T22:39:22","slug":"dont-be-fooled-dems-3-5t-bill-would-still-kill-the-economy","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dont-be-fooled-dems-3-5t-bill-would-still-kill-the-economy\/","title":{"rendered":"#Don’t be fooled \u2014 Dems’ $3.5T bill would still kill the economy"},"content":{"rendered":"

“#Don’t be fooled \u2014 Dems’ $3.5T bill would still kill the economy<\/strong>”
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Senate Democrats announced Tuesday they\u2019d reached an agreement on a massive budget bill worth $3.5 trillion over the next decade \u2014\u00a0though they haven\u2019t actually decided exactly how they\u2019ll spend it.<\/p>\n

Is this to be another case of, as Speaker Nancy Pelosi infamously said of ObamaCare, \u201cWe have to pass the bill so that you can find out what is in it\u201d?<\/p>\n

The plan represents some slight progress: It doesn\u2019t come close to Sen. Bernie Sanders\u2019 desire for $6 trillion or even President Joe Biden\u2019s proposal of just under $5 trillion.<\/p>\n

But it\u2019s still a huge amount of cash, the largest rise in federal spending ever<\/em>, and the new programs would mean a permanent<\/em> increase in annual outlays, even beyond the sticker price \u2014 which means new, eternal burdens on taxpayers.<\/p>\n

It also follows trillions in spending Democrats have already rammed through in Biden\u2019s early months as president \u2014 which has sent inflation soaring: June\u2019s Consumer Price Index jumped 5.4 percent from the year before, the biggest rise since August 2008, right before the financial crisis and following recession.<\/p>\n

The few details Democrats provided were a wish list of progressive programs the nation doesn\u2019t remotely need as it battles to recover post-pandemic: free community college, universal preschool for all 3- and 4-year-olds and a national paid family and medical leave program, plus giveaways in the name of slashing carbon emissions. And it would make permanent the tax-credit expansions in the \u201cCOVID relief\u201d bill, which Dems claimed would be temporary.<\/p>\n

Sanders is right to say, \u201cWhat we are trying to do is transformative\u201d \u2014\u00a0which makes it particularly bizarre that the plan is to pass the bill using reconciliation, which is meant for emergency revisions to spending laws, not for remaking the country.<\/p>\n

Senate Dems claim the plan \u2014\u00a0again, which they haven\u2019t actually finished, beyond the headline number \u2014 will be fully paid for, through higher taxes and economic growth. But higher taxes would reduce<\/em> economic growth. <\/p>\n

This is just a slightly-less-outrageous bid to push through ridiculous stuff that Biden didn\u2019t campaign on, in a Congress that Democrats barely control, to win points with the party\u2019s left wing. Hope that the effort fails, so that Biden and Senate Majority Leader Chuck Schumer can finally turn their attention to passing the kind of centrist legislation that could actually serve the nation\u2019s needs.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Don’t be fooled \u2014 Dems’ $3.5T bill would still kill the economy” Senate Democrats announced Tuesday they\u2019d reached an agreement on a massive budget bill worth $3.5 trillion over the next decade \u2014\u00a0though they haven\u2019t actually decided exactly how they\u2019ll spend it. Is this to be another case of, as Speaker Nancy Pelosi infamously said…<\/p>\n","protected":false},"author":1,"featured_media":300778,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/07\/epaselect_USA_GOVERNMENT_BIDEN_CAPITOL.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[111926,51421,43,70865,991],"class_list":["post-300777","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-7-15-21","tag-bernie-sanders","tag-editorial","tag-government-spending","tag-joe-biden"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/300777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=300777"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/300777\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/300778"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=300777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=300777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=300777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}