{"id":1639871,"date":"2022-09-13T07:51:12","date_gmt":"2022-09-13T11:51:12","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1639871"},"modified":"2022-09-13T07:52:13","modified_gmt":"2022-09-13T11:52:13","slug":"joe-bidens-not-done-increasing-inflation-with-debt-fueled-federal-spending","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joe-bidens-not-done-increasing-inflation-with-debt-fueled-federal-spending\/","title":{"rendered":"Joe Biden\u2019s Not Done Increasing Inflation With Debt-Fueled Federal Spending"},"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\">20<\/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%2Fjoe-bidens-not-done-increasing-inflation-with-debt-fueled-federal-spending%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=1639871&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--><div><\/div>\n<p>Only one week after announcing a student \u201c<a href=\"https:\/\/thefederalist.com\/2022\/08\/26\/how-joe-bidens-welfare-for-college-grads-will-stoke-inflation\/\">loan forgiveness<\/a>\u201d program that independent experts <a href=\"https:\/\/budgetmodel.wharton.upenn.edu\/issues\/2022\/8\/26\/biden-student-loan-forgiveness\">suggest<\/a> could cost more than $1 trillion, the Biden administration proposed yet more federal spending. Just before Labor Day, the administration requested $47 billion in supplemental funds to add to legislation funding the federal government past September 30, with no offsets for these new funds.<\/p>\n<p>Of the <a href=\"https:\/\/www.whitehouse.gov\/wp-content\/uploads\/2022\/09\/Summary-of-Funding-Request-to-Meet-Critical-Needs.pdf\">$47 billion requested<\/a>, $26.9 billion more would go towards covid and the monkeypox outbreak, with the remainder funding military assistance to Ukraine and disaster relief at home.<\/p>\n<p>The covid funding in particular should draw scrutiny from conservatives, given that taxpayers have already shelled out trillions in the name of covid. The administration has publicly asked for even more covid funds since the spring, and Democrats could have included such funding in the reconciliation bill Congress passed in August\u2014a bill that Republicans could not procedurally block. Democrats <a href=\"https:\/\/www.wsj.com\/articles\/what-happened-to-that-emergency-covid-money-reconciliation-bill-american-rescue-plan-act-vaccine-supply-boosters-paxlovid-china-11659370022?mod=opinion_major_pos4\">chose not to do so<\/a>.<\/p>\n<p>Having already engaged in myriad spending sprees for the past 18 months, Democrats apparently consider Republicans so gullible, or eager to support expansions of government, that they will gladly agree to throw more gasoline on to Washington\u2019s raging inflation fire. Conservatives should not take this bait, and should instead highlight all the <a href=\"https:\/\/thefederalist.com\/2022\/04\/04\/heres-some-of-the-garbage-democrats-funded-as-covid-relief\/\">pork projects and unnecessary programs<\/a> that the left spent the past year funding.<\/p>\n<h2><strong>Wasteful Spending Priorities<\/strong><\/h2>\n<p>Given that President Biden won election <a href=\"https:\/\/twitter.com\/RNCResearch\/status\/1449055643441192960\">pledging<\/a> to \u201cshut down the virus,\u201d it\u2019s worth listing some of the items in the misnamed \u201c<a href=\"https:\/\/www.congress.gov\/bill\/117th-congress\/house-bill\/5376\/text\">Inflation Reduction Act<\/a>\u201d that Democrats chose to prioritize ahead of even more spending on covid after an unprecedented amount has already been appropriated and much of which is still unspent.<\/p>\n<p>For instance, Section 12001 of the bill extends the enhanced Obamacare subsidies that Democrats passed last year through 2025. The Congressional Budget Office recently <a href=\"https:\/\/www.cbo.gov\/system\/files?file=2022-07\/58313-Crapo_letter.pdf\">estimated<\/a> that approximately 15 percent of the benefit of those enhanced subsidies would accrue to households making over <a href=\"https:\/\/aspe.hhs.gov\/topics\/poverty-economic-mobility\/poverty-guidelines\">five times the federal poverty level<\/a>. With the three-year subsidy package totaling <a href=\"https:\/\/www.democrats.senate.gov\/imo\/media\/doc\/inflation_reduction_act_one_page_summary.pdf\">approximately $64 billion<\/a>, that means roughly $9.6 billion will fund subsidies for households earning at least $138,750 for a family of four.<\/p>\n<p>The law also provides myriad pots of money for vaguely-defined environmental and social justice programs. Section 60201 spends $3 billion for a new environmental and climate justice block grant, while Section 80002 appropriates $23.5 million for Native Hawaiian climate resilience programs. Section 40002 gives $150 million to the National Oceanic and Atmospheric Administration \u201cfor the construction of new facilities\u201d\u2014again, while providing not a dollar for covid tests or vaccines.<\/p>\n<p>Section 50141 of the bill appropriates $3.6 billion to the Department of Energy, to guarantee as much as $40 billion in new loan funding for climate-related projects. Section 50144 gives the Department an additional $5 billion, to guarantee up to $250 billion in infrastructure reinvestment financing. In Section 50145, an additional $75 million appropriation would increase guarantees for tribal projects to $20 billion. All three programs would put more Solyndra-like projects on the federal government\u2019s books, with taxpayers potentially incurring losses if the government picks the wrong programs to back, as it often does.<\/p>\n<p>Section 10301 euphemistically \u201cenhances\u201d the IRS, providing $80 billion in new funds, with the majority, or $45.6 billion, going towards enforcement. Democrats claim that <a href=\"https:\/\/thefederalist.com\/2022\/07\/29\/build-back-better-bill-would-fund-86000-additional-irs-agents-to-sic-on-american-taxpayers\/\">the nearly 87,000 employees<\/a> the IRS <a href=\"https:\/\/home.treasury.gov\/system\/files\/136\/The-American-Families-Plan-Tax-Compliance-Agenda.pdf\">wants to hire<\/a> with this money will not target lower-income households. But the fact that the IRS <a href=\"https:\/\/www.washingtonpost.com\/politics\/2021\/11\/30\/joe-bidens-aggressive-use-tax-loophole-hes-trying-shut-down\/\">declined to audit<\/a> Joe Biden\u2019s returns for 2017 and 2018, even after <a href=\"https:\/\/www.wsj.com\/articles\/joe-biden-used-tax-code-loophole-obama-tried-to-plug-11562779300?mod=article_inline\">multiple<\/a> <a href=\"https:\/\/nypost.com\/2021\/09\/23\/biden-could-owe-as-much-as-500k-in-irs-taxes-report\/\">tax experts<\/a> publicly questioned the legality of his conduct, reveals the IRS\u2019s true priorities for tax enforcement\u2014and they have little to do with pursuing \u201cthe rich.\u201d<\/p>\n<h2><strong>Defund the Green New Deal<\/strong><\/h2>\n<p>Add it all up, and Republicans have a compelling series of pots with which to fund the administration\u2019s proposed new spending: Eliminating Obamacare subsidies for wealthy households; closing down vague slush funds; stopping new Solyndra fiascos before they start; and preventing the middle class from IRS harassment.<\/p>\n<p>If Democrats reject these possibilities, then Republicans should agree to provide exactly as much money for the \u201ccovid crisis\u201d as Democrats did in their party-line reconciliation bill last month: Zero.<\/p>\n<hr class=\"wp-block-separator\" \/>\n<div class=\"article-author-description fst-italic\">\n  Chris Jacobs is founder and CEO of Juniper Research Group, and author of the book, &#8220;<a href=\"https:\/\/www.amazon.com\/dp\/1645720020\">The Case Against Single Payer<\/a>.&#8221; He is on Twitter: <a href=\"http:\/\/www.twitter.com\/chrisjacobshc\">@chrisjacobsHC<\/a>. Previously he was a senior health policy analyst for the Texas Public Policy Foundation, a senior policy analyst in The Heritage Foundation\u2019s Center for Health Policy Studies, and a senior policy analyst with the Joint Economic Committee\u2019s Senate Republican staff. During the debate over the Patient Protection and Affordable Care Act, popularly known as Obamacare, Jacobs was a policy adviser for the House Republican Conference under then-Chairman Mike Pence. In the first two years of the law\u2019s implementation, he was a health policy analyst for the Senate Republican Policy Committee. Jacobs got his start on Capitol Hill as an intern for then-Rep. Pat Toomey (R-Pa.). He holds a bachelor\u2019s degree in political science and history from American University, where he is a part-time teacher of health policy. He currently resides in Washington, D.C.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Only one week after announcing a student \u201cloan forgiveness\u201d program that independent experts suggest could cost more than $1 trillion, the Biden administration proposed yet more federal spending. Just before<\/p>\n","protected":false},"author":521,"featured_media":1639873,"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-1639871","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\/1639871","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\/521"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1639871"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1639871\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1639873"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1639871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1639871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1639871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}