Your current web browser is outdated. For best viewing experience, please consider upgrading to the latest version.

Contact

Send a question or comment using the form below. This message may be routed through support staff.

Email Article

ERROR
Main Error Mesage Here
More detailed message would go here to provide context for the user and how to proceed
ERROR
Main Error Mesage Here
More detailed message would go here to provide context for the user and how to proceed
search DONATE
Close Nav

Democrats’ Massive Spending Plans Will Blow Up US Budget for Generations

back to top
commentary

Democrats’ Massive Spending Plans Will Blow Up US Budget for Generations

New York Post September 27, 2021
EconomicsBudget

“It’s going to cost nothing,” President Biden said of the Democrats’ massive $3.5 trillion spending binge, which House Speaker Nancy Pelosi is scrambling to pass this week.

Don’t believe it. The bill, which aims to move America closer to a European-style social-welfare state, will shorten the fuse on a debt bomb that’s already set to detonate.

Last year, lawmakers enacted $3 trillion in (mostly) justified deficit spending for a once-in-a-lifetime pandemic. Yet the 2021 spending blowout is set to dwarf those costs. Lawmakers have already enacted a $1.9 trillion “stimulus” bill filled with unnecessary items like unemployment benefits that exceed the wages for many available jobs, and bailouts to states already running budget surpluses. The Senate has passed a $550 billion infrastructure bill that is financed mostly with gimmicks. Biden’s 8.4 percent discretionary spending increase would permanently raise the baseline by $1 trillion over the decade.

Continue reading the entire piece here at National Review Online

______________________

Brian M. Riedl is a senior fellow at the Manhattan Institute. Follow him on Twitter here.

Photo by Alex Wong/Getty Images

Saved!
Close