Surprise! Biden’s Spending Bills Will Not ‘Cost Zero Dollars’
Anders Hagstrom
White House Correspondent
November 15, 2021 8:18 PM ET
President Joe Biden’s administration is facing a daunting reality check after claiming for months that their spending agenda will “cost zero dollars,” with the head of the Congressional Budget Office (CBO) saying the White House drastically overestimated the revenue the IRS could gain by cracking down on tax loopholes.
Biden and numerous other senior Democrats in the White House and on Capitol Hill have repeatedly insisted that their $1.85 trillion social spending package will add nothing to the national debt. They argued the package included enough pay-fors to offset the spending programs. CBO chief Phillip Swagel brought that claim down on Monday, however, saying that the tax loophole crackdown in the bill would only garner $120 billion, a far cry from the White House’s projected $400 billion, according to The New York Times
https://twitter.com/WHCOS/status/1453713747718164484The CBO, which is a non-partisan organization, is set to release its official report Friday. The White House is shoring up support and urging lawmakers to disregard the report ahead of its release.
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https://dailycaller.com/2021/11/15/biden-spending-cbo-infrastructure-deficit/
