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CBO says Democrat social spending bill to grow deficit by $367 billion, undercutting Biden claim
Just The News ^ | 11/18/2021 | Just The News

Posted on 11/18/2021 3:39:12 PM PST by PhxRising

The Congressional Budget Office estimated on Thursday that President Biden's Build Back Better Act will increase the nation's deficit by $367 billion.

The CBO's cost estimate contradicts President Biden's claim that the legislation will cost "zero." House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer also have said the bill would be fully paid for with tax hikes on corporations and wealthy Americans.

According to the CBO's estimate, "enacting this legislation would result in a net increase in the deficit totaling $367 billion over the 2022-2031 period, not counting any additional revenue that may be generated by additional funding for tax enforcement."

(Excerpt) Read more at justthenews.com ...


TOPICS:
KEYWORDS: biden; bidenomics; demonicrats; infrastructure
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Obviously, the Democrat's reconciliation bill is not free and is not paid for.
1 posted on 11/18/2021 3:39:12 PM PST by PhxRising
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To: PhxRising

CBO low-balled that number by at least 10X. Their estimate is a joke.


2 posted on 11/18/2021 3:40:23 PM PST by NohSpinZone (First thing we do, let's kill all the lawyers)
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To: PhxRising

Lol. And the CBO’s estimates are always wildly off on the low side.


3 posted on 11/18/2021 3:40:35 PM PST by Seruzawa ("The Political left is the Garden of Eden of incompetence" - Marx the Smarter (Groucho))
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To: PhxRising

$367B seems like a gross underestimation.


4 posted on 11/18/2021 3:40:47 PM PST by rfp1234 (Comitia asinorum et rhinocerum delenda sunt.)
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To: PhxRising

Socialism sure does cost a lot.


5 posted on 11/18/2021 3:41:04 PM PST by Libloather (Why do climate change hoax deniers live in mansions on the beach?)
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To: Libloather

but most importantly, no more mean tweets


6 posted on 11/18/2021 3:43:35 PM PST by joshua c (Dump the LEFT. Cable tv, Big tech, national name brands)
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To: rfp1234

.
That’s ridiculous!

12 times that!

CBO serving their Masters

.


7 posted on 11/18/2021 3:44:27 PM PST by AnthonySoprano (‘’)
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To: PhxRising

This is nonsense. CBO to the best of my recollection has never released “net” numbers. They release the cost and the tax numbers separate as all of these numbers are at best swags and a “net” number simply hides what little information that CBO has generated.


8 posted on 11/18/2021 3:44:44 PM PST by rigelkentaurus
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To: rfp1234

I’m thinking it’s for every year for 10 years. I’ll see if I can find a site that explains it better.


9 posted on 11/18/2021 3:44:49 PM PST by Sacajaweau ( )
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To: PhxRising

Net increase in revenue and it’s sources is pertinent more than any so called budget imbalance , always deficit,. We tax payers slash consumers bear the brunt of the obfuscation, cost nothing my ass it costs what they spend/ give away, no this free nothing!’nnn


10 posted on 11/18/2021 3:46:59 PM PST by Recompennation (Don’t blame me my vote didn’t count..)
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To: PhxRising

Biden said it would cost 0 dollars.
Everything he says is a lie.


11 posted on 11/18/2021 3:48:49 PM PST by tennmountainman ( Less Lindell CONS, More AZ Style Audits)
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To: PhxRising

The actual costs are always way over the estimates (it’s government) and the projected tax revenue never materializes as wealthy investors have a funny habit of protecting their wealth from tax poachers.


12 posted on 11/18/2021 3:49:25 PM PST by Jim Robinson (Resistance to tyranny is obedience to God.)
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To: Jim Robinson

Who cares, its a done deal.


13 posted on 11/18/2021 3:49:50 PM PST by RBW in PA
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To: All

.
It’s not like the CBO is under any pressure to be accurate.

They always get it wrong expodentiaaly (says Slow Joe).

There is no accountability in DC.


14 posted on 11/18/2021 3:50:55 PM PST by AnthonySoprano (‘’)
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To: NohSpinZone

“CBO low-balled that number by at least 10X. Their estimate is a joke”

I won’t go with a factor of 10x, but the cost of the bill easy, and probably another 500 billion. The CBO did the RATS a greased palm favor. That or they and their families don’t have to worry about a horrendous mysterious car crash.


15 posted on 11/18/2021 3:56:34 PM PST by DAC21
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To: NohSpinZone

Biden and the the other Dems lied?

Didn’t see that one coming.

Unfortunately tens of millions of voters didn’t, either. “I vote Democrat. My parents always voted that way. I always will. They’re for the little guy and minorities.”


16 posted on 11/18/2021 3:57:46 PM PST by frank ballenger (You have summoned up a thundercloud. You're gonna hear from me. Anthem by Leonard Cohen)
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To: PhxRising

The Dems are saying they’ll pass this crap tonight ?


17 posted on 11/18/2021 3:58:57 PM PST by butlerweave
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To: Libloather
Socialism sure does cost a lot.

at least it's other peoples money.

18 posted on 11/18/2021 4:00:52 PM PST by ImJustAnotherOkie (Let's go Brandon)
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To: Seruzawa; GOPJ

When the CBO came out with an initial estimate for Obamacare much higher than Obama claimed, Sean Hannity said the CBO numbers were the “gold standard.” I said STFU you idiot. Sure enough, in a few days they “found” a way to lower their estimate to what he wanted.


19 posted on 11/18/2021 4:01:07 PM PST by ding_dong_daddy_from_dumas (Re-imagine the media!)
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To: ding_dong_daddy_from_dumas

Hannity is completely FOS on top of being a rude nasty host who constantly interrupts guests. I never listen to him or watch him. He’s the right-wing Chris Matthews. I’m surprised neither of them have been punched in the nose. Just for their terrible manners.


20 posted on 11/18/2021 4:08:02 PM PST by Seruzawa ("The Political left is the Garden of Eden of incompetence" - Marx the Smarter (Groucho))
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