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The Congressional Budget Office (CBO) on Wednesday released estimates for Democrats’ sprawling reconciliation plan, forecasting the legislation would lead to a net deficit decrease of more than $102 billion over roughly the next decade.
The estimates from the nonpartisan budget scorekeeper come as Democrats are moving quickly to pass the mammoth bill, dubbed the Inflation Reduction Act, later this month.
Maybe they should call it, "Baby Build Back Better." Would be a much better name than “The Inflation Reduction Act of 2022,” which is a really boring name. That way you could call it "Biden's Baby Build Back Better," or "Quintuple-B" for short!
Presuming it passes the hurtles listed in the article, and presuming Joe Manchin doesn't change his mind at the last minute (again!), this would mean . . . . . . . the Socialist Utopia is at hand!
This is insanity. We have inflation and a recession, and the dems what to take money OUT of the economy, raise taxes on businesses, which will then be forced to raise prices on consumers.
The country is on fire, and the dems think it's a great idea to close off the water lines to the fire hoses, and toss in cans full of gasoline.
ok....so this SPENDING, OFF BUDGET bill might shave 10b of deficit off of a trillion dollar deficit....so 1%ish annually
one other thing.... in the CBO figuring that it might shave off 1% of a trillion dollar deficit, did the CBO figure into that the 10% increase in spending that happens every year???
The Congressional Budget Office (CBO) on Wednesday released estimates for Democrats’ sprawling reconciliation plan, forecasting the legislation would lead to a net deficit decrease of more than $102 billion over roughly the next decade.
so, the rest of their spending wishes would make the deficit WORSE than projected by $200B?
But this one - if ACA subsidies that have been around for 10 years already suddenly go away in 4 years - will reduce it ~$300B .....well, it's already been dropped to $250B.
And if those ACA subsidies don't go away, then the Manchin/Schumer spending plan would only do $90B of deficit reduction....meaning this reconciliation bill would make deficits WORSE than they're already going to be.
"In CBO’s projections, annual deficits average $1.2 trillion a year from 2022 to 2031 and exceed their 50-year average of 3.3 percent of GDP in each of those years. They decline to 4.0 percent of GDP or less from 2023 to 2027 before increasing again, reaching 5.7 percent of GDP in 2031. By the end of the period, both primary deficits (which exclude net outlays for interest) and interest outlays are rising."
200B "saved"
12T accum deficits for 10 years
= 1.7% lower deficit than we would have. Which is also known as adding another $11.8 TRILLION to the debt
James Bond 007 said: The survey of 1,557 U.S. adults
Quote:
Originally Posted by James Bond 007
And, as I've pointed out in other threads, that same poll that says voters don't think Biden is doing a good job STILL favor democrats in the generic congressional ballot by 6 percentage points among registered voters - 45% to 39% (page 22 of your link).
So it actually makes sense that voters both like this bill and prefer democrats in congress, since this bill is (of course) a democratic bill. Biden's popularity (or lack thereof) has become practically irrelevant to a whole lot of things these days.
Quote:
Originally Posted by Eyebee Teepee
However, the poll did not ask VOTERS. It only surveyed adults.
And then there's those that decide elections now - the Independents. You probably don't want to see how they answered most of the questions.
Quote:
Originally Posted by Eyebee Teepee
Oh, I didn't proclaim they didn't ask any voters. I said they didn't do the "we polled 1,777 registered adults" or "those who identified as likely voters".
I mean, if I poll 3 people, at least one of them would be a "Democrat". Did I say they polled "only" or "no" Democrats?
As to Biden, I merely pointed out that you had to scroll past pages and pages of questions that revealed how poor of a job people realized he was doing BEFORE you got to the point of the article.
I didn't want you fanboys getting depressed reading all those results just to reach the end before you could see some "good news".
perhaps, for the good of us all, let's argue/debate actual points. And using 1 word in one sentence among posts where I repeatedly clarified is pedantic.
"In CBO’s projections, annual deficits average $1.2 trillion a year from 2022 to 2031 and exceed their 50-year average of 3.3 percent of GDP in each of those years. They decline to 4.0 percent of GDP or less from 2023 to 2027 before increasing again, reaching 5.7 percent of GDP in 2031. By the end of the period, both primary deficits (which exclude net outlays for interest) and interest outlays are rising."
200B "saved"
12T accum deficits for 10 years
= 1.7% lower deficit than we would have. Which is also known as adding another $11.8 TRILLION to the debt
Proof that this is all smoke and mirrors. Our Congressional leadership are completely unaffected by tax revenue, they will spend to increase the debt each year. These people are just going to milk our treasury to make them wealthy enough, so that when they retire from Congress, it will not matter what state of collapse our economy will be in. They will retire with enough wealth to live their lives completely unaffected by it all.
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