{"id":1114151,"date":"2021-12-13T10:29:24","date_gmt":"2021-12-13T15:29:24","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1114151"},"modified":"2021-12-13T10:29:26","modified_gmt":"2021-12-13T15:29:26","slug":"the-wall-street-journal-slams-biden-and-dems-build-back-better-price-tag-is-lie-of-the-year","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-wall-street-journal-slams-biden-and-dems-build-back-better-price-tag-is-lie-of-the-year\/","title":{"rendered":"The Wall Street Journal Slams Biden And Dems: Build Back Better Price Tag Is \u2018Lie Of The Year\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">36<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthe-wall-street-journal-slams-biden-and-dems-build-back-better-price-tag-is-lie-of-the-year%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1114151&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>President Joe Biden and his Democratic allies have consistently said that Biden\u2019s \u2018Build Back Better Plan\u2019 will add zero dollars to the deficit. This \u2014 of course \u2014 is mathematically impossible, but the Democratic party and their pals in the media have repeated it often enough in hopes it becomes true.<\/p>\n<p>On Monday, The Wall Street Journal editorial board <a href=\"https:\/\/www.wsj.com\/articles\/the-real-cost-of-biden-spending-plan-build-back-better-cbo-reconciliation-graham-pelosi-manchin-11639344374?mod=e2two\">issued<\/a> a blistering column, explaining why the true cost of the BBB plan is at least $3 trillion over a 10-year span of time and calling the claim zero dollars the \u201clie of the year\u201d:<\/p>\n<p><em>We\u2019ve been telling you for months that the plan\u2019s advertised cost of $1.75 trillion over 10 years includes multiple budget gimmicks that disguise the real cost. The Penn Wharton Budget Model has scored the 10-year cost at about $4.6 trillion, but the White House keeps claiming against all evidence that the cost is \u201czero.\u201d<\/em><\/p>\n<p>As the Journal pointed out, what the White House is not saying is that many of the programs \u2014 like any \u201ctemporary\u201d government program \u2014 will likely become permanent. In order to add up the actual price tag of the BBB, certain programs have to be treated as if they are going to remain beyond the time that the bill states:<\/p>\n<p><em>Take the child allowance, which Democrats say will cost only $185 billion because it ends after one year. No one believes they won\u2019t extend it next year, and the year after that, ad infinitum. CBO says the real cost over 10 years is $1.597 trillion. Democrats also peg their earned-income tax credit expansion at a cost of $13 billion because it too ends after one year. CBO says the real cost is $135 billion over 10 years.<\/em><\/p>\n<p><em>An honest accounting of those two programs alone consumes $1.732 trillion, or nearly all of the $1.75 trillion that Sen. Joe Manchin has said is the most total new spending he\u2019ll support over 10 years.<\/em><\/p>\n<p>Because Swagel\u2019s report shows the true price tag, the Journal slammed Democratic leaders for lying about what it will actually cost the American people (emphasis added):<\/p>\n<p><em>Overall, Mr. Swagel says in his letter, CBO and the Joint Committee on Taxation project that the House bill would increase the deficit by $3 trillion over 10 years without the budget gimmicks and phony phase-outs.<\/em><\/p>\n<p><em>Democratic leaders&nbsp;<a href=\"https:\/\/www.wsj.com\/topics\/person\/nancy-pelosi\">Nancy Pelosi<\/a>&nbsp;and Chuck Schumer reacted furiously to this news, falling back on their claims that the Build Back Better Act is \u201cfully paid for.\u201d Mrs. Pelosi says CBO has scored Mr. Graham\u2019s \u201cimaginary bill.\u201d <strong>But her bill is the real fiscal fantasy and \u201cfully paid for\u201d is the lie of the year.<\/strong><\/em><\/p>\n<p>The Journal concluded that Democrats like Joe Manchin of West Virginia and other moderates should kill the bill, lest they want to be attached to the exorbitant deficit increases it will surely bring.<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a&nbsp;<a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden and his Democratic allies have consistently said that Biden\u2019s \u2018Build Back Better Plan\u2019 will add zero dollars to the deficit. This \u2014 of course \u2014 is mathematically impossible, but the Democratic party and their pals in the media have repeated it often enough in hopes it becomes true.On Monday, The Wall Street Journal editorial board issued a blistering column, explaining why the true cost of the BBB plan is at least $3 trillion over a 10-year span of time and calling the claim zero dollars the \u201clie of the year\u201d:We\u2019ve been telling you for months that the plan\u2019s advertised cost of $1.75 trillion over 10 years includes multiple budget gimmicks that disguise the real cost. The Penn Wharton Budget Model has scored the 10-year cost at about $4.6 trillion, but the White House keeps claiming against all evidence that the cost is \u201czero.\u201dAs the Journal pointed out, what the White House is not saying is that many of the programs \u2014 like any \u201ctemporary\u201d government program \u2014 will likely become permanent. In order to add up the actual price tag of the BBB, certain programs have to be treated as if they are going to remain beyond the time that the bill states:Take the child allowance, which Democrats say will cost only $185 billion because it ends after one year. No one believes they won\u2019t extend it next year, and the year after that, ad infinitum. CBO says the real cost over 10 years is $1.597 trillion. Democrats also peg their earned-income tax credit expansion at a cost of $13 billion because it too ends after one year. CBO says the real cost is $135 billion over 10 years.An honest accounting of those two programs alone consumes $1.732 trillion, or nearly all of the $1.75 trillion that Sen. Joe Manchin has said is the most total new spending he\u2019ll support over 10 years.Because Swagel\u2019s report shows the true price tag, the Journal slammed Democratic leaders for lying about what it will actually cost the American people (emphasis added):Overall, Mr. Swagel says in his letter, CBO and the Joint Committee on Taxation project that the House bill would increase the deficit by $3 trillion over 10 years without the budget gimmicks and phony phase-outs.Democratic leaders\u00a0Nancy Pelosi\u00a0and Chuck Schumer reacted furiously to this news, falling back on their claims that the Build Back Better Act is \u201cfully paid for.\u201d Mrs. Pelosi says CBO has scored Mr. Graham\u2019s \u201cimaginary bill.\u201d But her bill is the real fiscal fantasy and \u201cfully paid for\u201d is the lie of the year.The Journal concluded that Democrats like Joe Manchin of West Virginia and other moderates should kill the bill, lest they want to be attached to the exorbitant deficit increases it will surely bring.The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a\u00a0member.<\/p>\n","protected":false},"author":326,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1114151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1114151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/326"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1114151"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1114151\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1114151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1114151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1114151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}