Posted on 11/02/2021 1:25:32 PM PDT by Jim Robinson
An analysis by the Tax Foundation, a nonpartisan fiscal watchdog, estimates that President Biden’s $1.75 trillion expansion of the federal safety net could kill more than 103,000 jobs over the next decade and add $750 billion to the federal deficit.
The estimate is based on a thorough analysis of the White House’s spending “framework” and the corresponding 1,684-page bill text released by House Speaker Nancy Pelosi, California Democrat. Experts from the Tax Foundation say the proposal will fall far short of White House promises.
“We estimate that the House bill would reduce long-run economic output by nearly 0.4% and eliminate about 103,000 full-time equivalent jobs in the United States,” the experts wrote. “It would also reduce average after-tax incomes for the top 80 percent of taxpayers over the long run.”
The analysis differs strongly from the rosy picture President Biden painted when he announced the deal last week.
“It’s a framework that will create millions of jobs, grow the economy, invest in our nation and our people, turn the climate crisis into an opportunity, and put us on a path not only to compete but to win the economic competition for the 21st century against China and every other major country in the world,” Mr. Biden said.
(Excerpt) Read more at washingtontimes.com ...
BBB: Big Biden Blunder
Just curious, With the exception of the Sun rising in the East, I haven’t been able to find a single prediction about the “climate” that has ever become true? Let’s start with the 1970’s when we were in the Beginning of the ICE AGE that was going to kill all life on the planet because of our Carbon Pollution.
It didn’t pan out, and neither have any other predictions. So why does anyone listen to them and why doesn’t everyone challenge thier religious beliefs on Mother Earth and her climate???
On climate change we are dealing with a religious cult and not science.
And yet 47% of the population support it, without thinking.
Nothing like doubling or tripling the winter heating bill to fire up the electorate!
Inflation is a tax and that must be close to 100% taxation.
wait, to save 10K jobs a year, that we don’t know will be permanent losses, we’re going to spent 1T?
that makes no sense in anywhere but Wonderland
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