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Biden’s Plan: So Modest, It Costs Nothing?

September 27, 2021 By Debbie Young

President Joe Biden talks on the phone with First Lady Jill Biden, Monday, Aug. 2, 2021, in the Oval Office of the White House. (Official White House Photo by Adam Schultz)

President Biden speaking at a press conference last Friday:

“Every time I hear this is going to cost A, B, C, or D—the truth is, based on the commitment that I made, it’s going to cost nothing, because we’re going to raise the revenue.” 

Biden Administration Incapable of Embarrassment

From White House deputy press secretary Andrew Bates (Axios):

The bill’s price tag is $0 because it will be paid for by ending failed, special tax giveaways for the richest taxpayers and big corporations, adding nothing to the debt.

Facts Don’t Matter

The WSJ explained last Friday that the $3.5 trillion is based on budget gimmickry “including entitlement phase-outs and phase-ins, and the real cost will be at least $5 trillion, probably far more.”

Adding to the National Debt for Decades

So even after $2.1 trillion in tax hikes, the entitlements in the reconciliation package that include the child allowance, college tuition, national pre-K, universal child care, expanded Medicare and a new Medicaid program will add to the U.S. debt for decades to come.

If the White House thinks these programs are worth the cost, it could make that case. Instead the political situation is apparently so desperate that it’s resorting to deception that is transparently ludicrous.

Financial Hari Kari

Joe Biden says “no cost,” as the U.S. is about to commit financial hari-kari.

Pew Research Center: Biden’s Approval Rating on Decline

With his administration facing multiple challenges at home and abroad, President Joe Biden’s job approval rating has fallen sharply in the past two months. Fewer than half of U.S. adults (44%) now approve of the way Biden is handling his job as president, while 53% disapprove. This marks a reversal in Biden’s job ratings since July, when a 55% majority approved of his job performance and 43% disapproved.

Read more about America’s Ill Equipped President Adding to the Madness.

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Debbie Young
Debbie, editor-in-chief of Richardcyoung.com, has been associate editor of Dick Young’s investment strategy reports for over three decades. When not in Key West, Debbie spends her free time researching and writing in and about Paris and Burgundy, France, cooking on her AGA Cooker, driving her Porsche Boxter S through Vermont and Maine, and practicing yoga.
Latest posts by Debbie Young (see all)
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