Another Massive Biden Lie – Democrats BBB Spending Bill Actually Costs Nearly Five Trillion Dollars, Not $2.4 trillion

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President Joe Biden has been lying throughout his nearly 50 years in political office.

Most recently, Joe told a New Hampshire crowd of “having had a house burn down with my wife in it — she got out safely, God willing.” In fact, the Associated Press reports, it was a minor kitchen fire, with no damage visible from the outside.

Biden claims he was offered a job by an Idaho lumber company; they have no record. He claims he “used to drive” an 18-wheeler — it didn’t happen.”

So when President Biden’s Democratic party tells America that their Build Back Better (BBB) bill, which includes Amnesty for millions of illegal aliens, will cost zero dollars, their constituents should doubt them every time.

The Congressional Budget Office (CBO) released its official cost estimate for the Democrats’ spending bill Thursday, but some models suggest the real cost is much higher.

The CBO announced that the bill would add $367 billion to the federal deficit.

However, when looking out the entire 10 years, the Penn Wharton Budget Model estimates that the real cost of the bill will be nearly $4.6 trillion if temporary policies are made permanent. The Wharton Budget Model also predicts the federal deficit to increase by 24.4% and GDP to fall by 2.9% by 2050 if the current spending bill becomes law.

The Committee for a Responsible Federal Budget (CRFB) estimates the cost of the bill to be $4.9 trillion if programs and tax credits continue through 2031.

Why such a massive discrepancy between the White House and these groups?

Democrats are using arbitrary, and deceptive expiration dates on the programs in the bill which lowers the cost, the CRFB reported. The price skyrockets if the temporary programs they used for this analysis, become permanent, then the total cost over the 10 years ends up close to 5T.

The spending bill includes provisions for paid family leave, tax deductions, spending meant to combat climate change, universal pre-k, Medicare expansions, and more.

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The Biden administration and numerous senior Democrats claimed for months that the bill would “cost zero dollars,” arguing that the pay-fors would offset the spending programs. CBO chief Phillip Swagel shot that claim down.

This deception has been used by both political parties, leading to a national debt approaching $30T, but with little to show for the spending.

What makes the BBB and other Biden legislation particularly damaging, is the advancement of Marxism and the Great Reset in the midst of all the spending.

By: Eric Thompson, host of the Eric Thompson Show. Follow me on MAGABOOKTwellit & Twitter

 

This story syndicated with permission from Eric Thompson – Trending Politics

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