{"id":368359,"date":"2021-11-17T06:25:56","date_gmt":"2021-11-17T03:25:56","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/us-will-be-debt-to-rights-if-bidens-build-back-better-passes\/"},"modified":"2021-11-17T06:25:56","modified_gmt":"2021-11-17T03:25:56","slug":"us-will-be-debt-to-rights-if-bidens-build-back-better-passes","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/us-will-be-debt-to-rights-if-bidens-build-back-better-passes\/","title":{"rendered":"#US will be debt to rights if Biden&#8217;s Build Back Better passes"},"content":{"rendered":"<p>&#8220;<strong>#US will be debt to rights if Biden&#8217;s Build Back Better passes<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>President Biden\u2019s false claim that his \u201cBuild Back Better\u201d spending blowout (more accurately named \u201cBuild Back Broke\u201d) would cost \u201czero dollars\u201d just got further exposed for the farce it is.\u00a0\u00a0<\/p>\n<p>Thanks to the nonpartisan Congressional Budget Office, we know more about how America\u2019s growing debt bomb will advance further toward detonation if Congress doesn\u2019t halt BBB <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a>ism in its tracks.<\/p>\n<p>The CBO is meant to be the neutral referee tallying price tags for Congress\u2019 bills, and CBO boss Phillip Swagel said Monday that Democrats\u2019 BBB proposal to beef up Internal Revenue Service enforcement against tax cheats would pay a mere fraction of what Biden\u2019s team claimed it would.\u00a0<\/p>\n<p>Instead of the $400 billion over 10 years Biden claimed, the CBO said it would harvest a mere $120 billion. We\u2019re still waiting for the full CBO price tag for the entire BBB package.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/biden-debt-692.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Joe Biden national debt\" class=\"wp-image-20171988\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/biden-debt-692.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/biden-debt-692.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/biden-debt-692.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>President Biden\u2019s spending plan could set the country back trillions.<\/figcaption><figcaption><span class=\"credit\">ZUMAPRESS.com<\/span><\/figcaption><\/figure>\n<p>That\u2019s not the only sleight of hand. Biden claims the cost is just $1.75 trillion, but he relies on gimmicks like phasing programs in gradually and shoving costs onto states after initial federal support. Counter to Team Biden\u2019s deception, analysis by the Penn Wharton Budget Model, a nonpartisan group at University of Pennsylvania\u2019s Wharton Business School, found Biden\u2019s plan could actually cost more than $3.9 trillion over 10 years if spending and revenue provisions become permanent.<\/p>\n<p>That is a very real scenario, as President Ronald Reagan knew: Government bureaucracy is \u201cthe nearest thing to eternal life.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/gas-prices.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"The Build Back Better plan would only worsen the inflation that has already risen in this country.\" class=\"wp-image-20171716\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/gas-prices.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/gas-prices.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/gas-prices.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The Build Back Better plan would only worsen the inflation that has already risen in this country.<\/figcaption><figcaption><span class=\"credit\">REUTERS\/Mike Blake\/File Photo<\/span><\/figcaption><\/figure>\n<p>Last month, Americans suffered record-high inflation of 6.2 percent, the highest measured in three decades. Lower-income families spend more of their budgets than wealthier families on everyday needs like food, housing and health care. The Biden administration\u2019s massive BBB government spending plan will only accelerate inflation in our country and hurt our most vulnerable populations.\u00a0<\/p>\n<p>An inflationary bubble is the worst time to pass trillions in more government spending like BBB because it will sink us deeper into debt and further inflate prices. This will strike poor, minority and elderly (especially fixed-income retirees) households hardest.<\/p>\n<p>America\u2019s debt problem is already a kicked can \u2014 there isn\u2019t much road left.<\/p>\n<p>As the useful Web site USDebtClock.org reports, we are fast <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roaching $29 trillion in national debt, about $87,000 per citizen. Our debt-to-GDP ratio is nearly 126 percent, far higher than the 52 percent in 1960 (just prior to LBJ\u2019s massive \u201cGreat Society\u201d welfare binge spending that decimated \u00adAfrican-American families), 35 percent in 1980 and 56 percent in 2000.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/joe-manchin.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Legislators like Sen. Joe Manchin have shown more common sense than Biden on the massive spending plan.\" class=\"wp-image-20171721\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/joe-manchin.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/joe-manchin.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/joe-manchin.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Legislators like Sen. Joe Manchin have shown more common sense than Biden on the massive spending plan.<\/figcaption><figcaption><span class=\"credit\">AP Photo\/J. Scott Applewhite<\/span><\/figcaption><\/figure>\n<p>If we layer on even more national debt \u2014 just like an individual buying too much on a credit card \u2014 we would get an American bond downgrade. Democrats\u2019 new BBB debt explosion will make inflation even higher by pushing up borrowing costs, should America experience a bond-rating \u00addowngrade.<\/p>\n<p>If we don\u2019t stop BBB in its tracks, America won\u2019t be prepared for the next real emergency (and no, Pete Buttigieg, \u201cracist roads\u201d aren\u2019t one). We won\u2019t have much extra room before we get downgraded and everything gets more expensive because our interest rate for US sovereign borrowing would spike. It\u2019s the exact opposite of what we need during this inflation craze.\u00a0<\/p>\n<p>The good <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> is that leaders like Sens. Joe Manchin (D-W.Va.) and Kyrsten Sinema (D-Ariz.) are showing some common sense. They\u2019re leading the charge \u2014 bucking their own party \u2014 to torpedo the bill. They need all the support they can get.<\/p>\n<p><em>Carrie Sheffield is a senior policy analyst at Independent Women\u2019s Voice.<\/em>\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/11\/16\/us-will-be-debt-to-rights-if-bidens-build-back-better-passes\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#US will be debt to rights if Biden&#8217;s Build Back Better passes&#8221; President Biden\u2019s false claim that his \u201cBuild Back Better\u201d spending blowout (more accurately named \u201cBuild Back Broke\u201d) would cost \u201czero dollars\u201d just got further exposed for the farce it is.\u00a0\u00a0 Thanks to the nonpartisan Congressional Budget Office, we know more about how America\u2019s&#8230;<\/p>\n","protected":false},"author":1,"featured_media":368360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/biden-debt-693.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[119217,70301,91899,70865,991,87204],"class_list":["post-368359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-11-16-21","tag-bills","tag-congressional-budget-office","tag-government-spending","tag-joe-biden","tag-u-s-debt"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/368359","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=368359"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/368359\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/368360"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=368359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=368359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=368359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}