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Joe Biden is he really want to crush low-income Americans with high inflation?
You must be wondering. Since Biden took office, it seems every decision he made has tipped toward higher prices.
The White House has done everything possible to crush the production of oil and gas in the United States, helping to increase the cost of gasoline and heating oil. They spat out ever more generous benefits, in part thanks to the US $ 1.9 trillion bailout, deterioration a critical labor shortage. Difficulty in hiring workers has in turn pushed up wages and raised the price of almost everything.
Voters’ tsunami begins to drown the democrats
Voters’ tsunami begins to drown Democrats
And now we have Build Back Better (BBB) - a spending bill that will put billions more in the nation’s wallets and put inflation on steroids.
We thought Biden was supposed to care about the “little guy.” Attention Mr President: it is the little man who takes him by the chin.
And why? To satisfy the long-standing ambitions of Senator Bernie Sanders, I-Vt., Who wants to create a socialist-style economy from the cradle to the grave. Sanders, who dislikes capitalism, hates successful Americans like Elon Musk and has no faith in the economy of opportunity. Bernie, who wants to transform our country.
Remember how Bernie Sanders complained that Joe Biden’s $ 3.5 trillion BBB wasn’t big enough and how the Vermont Progressive claimed $ 5,000 billion or $ 6 trillion instead? Remember the White House said $ 3.5 trillion was the most they could walk and Democrats reluctantly agreed to bring that number down to $ 1.85 billion to appease the moderates?
It turns out that they were all lies; Sanders finally got his $ 5,000 billion. This is the real cost of the Democrats’ welfare bill passed by the House, if honestly noted, which the Congressional Budget Office did not do.
According to the Non-partisan Committee for a Responsible Federal Budget, if you abandon the glaring disappointments in the bill, Democrats are embarking on programs that will cost our country just under $ 5,000 billion. Programs like the Child Tax Credit, which distributes thousands of dollars per child each year and has no work requirements, are scheduled to last only a year, but in reality it is expected that ‘they drag on. The difference? about one trillion dollars over the next decade.
Biden’s BBB is a spending rash similar to what might happen if you give a teen a no-limit credit card.
Ditto for the tripling of the income tax credit, which Democrats claim to only prevail for a year, although of course they expect the opposite.
The right to child care, the softened ObamaCare grants, the pre-K plan – the price to pay for all these new programs will be much higher than the number shown in BBB.
Another lie is that the spending will be spread over a decade; in reality, the $ 5,000 billion explosion is loaded upstream. Americans will feel the impact of this bill right away, as prices skyrocket.
All in all, Biden’s BBB is a spending rash similar to what might happen if you give a teenager a credit card with no limits – a complete lack of discipline and a divorce from reality. Only the teenager in this photo is Bernie Sanders.
Why are the Democrats risking not only their political future but also the country’s economy for a bill drafted by a so-called democratic socialist? Because they owe Sanders and his supporters. Without them, Biden would not have won in 2020.
Will BBB earn its continued loyalty? Doubtful. Bernie will never be satisfied.
No sooner had the BBB passed the House than Sanders made it clear: the bill, which he called the most important legislation of all time, is not bold enough or big enough. He wants it to be “beefed up,” with higher taxes, expanded health insurance, lower prescription drug prices and more climate action.
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As BBB now goes to the Senate, the most outlandish lies about the actual costs of the bill will be released publicly. After all, Senator Joe Manchin, DW.Va., wanted a CBO score that removes what he rightly calls “gimmicks” from the bill. He did not understand.
Hopefully other moderate Democrats will join West Virginia Senator and Arizona’s Kyrsten Sinema in questioning the bill’s damaging tax and spending provisions and whether now is the time to push it down. more our country in a tax gap.
As they clapped and applauded each other for surpassing the BBB last week, House Democrats ignored the spending build-up over the past two years that has pushed our debt and spending to unprecedented levels. . The CBO has warned that our country’s deficits will reach $ 1 trillion every year until 2030; this disturbing total does not include the bipartisan $ 1.2 trillion infrastructure bill, nor this current monstrosity.
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The Pelosi team also ignored the fact that consumers are full and jobs are plentiful.
There will come a time when, for reasons that we cannot anticipate now, the economy will need a boost. What will we do then?
But the real reason Democrats need to hit the pause button is that we have entered an inflationary cycle that will be made worse by a bill that not only injects hundreds of billions more into the economy, but encourages also more people to sit on the sidelines. The continued upward pressure on wages, evident in recent social agreements, will fuel a worsening of the wage-price spiral.
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Historically, the only way the United States or any other country has escaped soaring prices is through a severe recession. This is how the inflation surge of the 1970s was brought to a halt; this is what we may have to endure later.
All because Bernie Sanders allowed Joe Biden to become president. What a price to pay.
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