We all knew it was a lie as soon as we heard Biden say his so-called Build Back Broke plan was paid for and would add nothing to the budget. But the White House has continued to insist that this is the case and the CBO has just come out with their projection..
Short answer: It ain’t free.
🚨 CBO estimates that Biden’s bill will add $367B to the deficit over a decade. https://t.co/IppFMAh6tY
— Caitlin Emma (@caitlinzemma) November 18, 2021
Politico reporter Caitlin Emma says “CBO estimates that Biden’s bill will add $367B to the deficit over a decade.”
The full summary statement from the CBO says “CBO estimates that 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.”
Adding $400 billion to the debt over the next decade is far from free, and I suspect it’s a severe understatement.
Knowing this day was coming, the White House said earlier this week, and incredibly I might add, that the CBO doesn’t have the ‘experience’ to accurately review Biden’s bill:
The Biden White House claimed that the Congressional Budget Office doesn’t have the “experience” to weigh in on the president’s Build Back Better agenda.
White House deputy press secretary Andrew Bates made the claim while speaking to a gaggle of reporters during an Air Force One flight to Rochester, New Hampshire.
The president traveled to New Hampshire on Tuesday to promote his Build Back Better agenda after he signed the $1 trillion infrastructure bill into law a day prior.
“The CBO does not have experience analyzing revenue amounts gained from tracking down wealthy tax cheats who are taking advantage of every honest taxpayer,” Bates said.
Amazing. This is how they are going to defend it, by slandering the CBO as incompetent boobs or something. And I bet the media will go right along with it.