“It’s Paid For”

That’s the Biden-Harris reconciliation bill that the House passed a version of Friday morning that’s “paid for.” And, no, that’s not Joe Biden’s quote—he said the bill would cost zero, which of course contradicts the headline quote, there being nothing for which to pay.

It’s Treasury Secretary Janet Yellen who said that when the CBO report on the bill was published before the House vote. Here’s her claim as cited by yahoo!news:

[T]he Built Back Better (BBB) Act is “fully paid for, and in fact will reduce our nation’s debt over time….”

What the CBO said, in summary:

The CBO determined the spending bill would add $367 billion to the federal deficit over 10 years, not including the IRS plan’s impact. Separately, the nonpartisan agency determined increased IRS tax enforcement would generate about $127 billion in new revenue, far below the $400 billion estimate touted by the Treasury Department and the White House.

Not only is the Biden-Harris administration disregarding out of touch with what us average Americans need or want, critical segments of this administration are out of touch with reality.

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