Budget Watchdog: Biden’s $5.8 Trillion Budget “Divorced From Reality”
Committee for a Responsible Federal Budget President Maya MacGuineas argues that Biden’s budget proposal isn’t a ‘real plan’ to achieve deficit reduction.
Committee for a Responsible Federal Budget President Maya MacGuineas argued on “Mornings with Maria,” Tuesday that Biden’s $5.8 trillion budget proposal is a “divorce from reality” and isn’t a “real plan” to achieve deficit reduction.
BIDEN PITCHES LARGEST TAX HIKE IN HISTORY AS PART OF $5.8T BUDGET REQUEST
MAYA MACGUINEAS: All of [Biden’s] economic assumptions are massively outdated, meaning they don’t reflect the high levels of inflation. The budget was already seven weeks late. I don’t know why they didn’t update the economic numbers, but that already means it’s built on a foundation that’s not realistic. Beyond that, when it comes to his main agenda, Build Back Better, that they’re still trying to figure out, it’s not included in the budget.
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(AP Photo/Patrick Semansky, File)
It’s a placeholder, and that means the biggest items that they’re pushing on the spending side, which was trillions of dollars for climate… other things are not included and the revenues that are supposed to be financing that are not in there, even though that would be even more tax increases… at this point, the budget becomes divorced from reality because the big things they will be focusing on are ‘can they come up on a deal on whatever Build Back Better may or may not turn into’ not included in the budget.
WATCH THE FULL INTERVIEW BELOW:
Committee for a Responsible Federal Budget President Maya MacGuineas provides insight into Biden’s budget proposal.
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