1.2 trillion isn't peanuts,especially when he wanted another 2 trillion right after and he wasn't increasing taxes to pay for this shit.
Manchin says he will not vote for Build Back Better: 'This is a no'
- Thread starter wildchild
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1.2 trillion isn't peanuts,especially when he wanted another 2 trillion right after and he wasn't increasing taxes to pay for this shit.
Actually, you sound a lot like… Joe Manchin. But it’s worth taking a look at what Manchin was actually saying about the CTC which a big no go issue for him.
Manchin’s big problem with the bill was that while it was technically paid for, some programs like the child tax credit only lasted one year while the funding mechanisms for that one year of spending extended for ten years. He had a big problem with democrats saying pass the CTC now and continue to pass extensions of the CTC every year or so and find money the to continue the program. He considered that a gimmick.
Reasonable people can actually agree with that thinking. Also, technically speaking, BBB as proposed has no real impact on deficit.
Other issues was he also wanted a more strict means test of the CTC expansion, aka lower the income cut off to something that would apply to every West Virginian but cut off half the kids in NJ and California. Big problemo there because it would turn the CTC into a welfare program instead of a true credit.
So this is still a problem no matter what and it’s a major cost to the bill.
To your point about Balanced budgets and surpluses, these are for a time of expansion. We seem to be rolling through disasters for more than 10 years now and the frequency doesn’t seem to be abating. It is more important to bring stability to the country right now than anything.
Somebody made a comment that the private sector drive the country. But without the deficit spending of the last two years this country would have been driven into the ground.
Just some things to think about.
CBO says it adds 367 billion a year to the deficit,that is a lot.
I like democrat presidents who cut the deficit in half like Obama or turns a deficit into a surplus like Clinton.
Joe Biden can claim credit for the last Corona Virus stimulus check for $1400. However, he negated any benefits most Americans who got those checks by his war on oil by shutting down pipelines, drilling and added more regulations including, investigating the oil companies for price gouging? Oil prices which are inflationary since, practically anything you do would need some oil, ended up eating up a lot of the stimulus monies with inflation running sky high on a lot of items, starting with groceries we buy, gas for our cars, rent, etc. In addition, the shutdowns due to the Corona Virus hysteria stirred and encouraged by Democrats resulted in millions of Americans losing their jobs and now, unable to pay their rents and other expenses. So, net of all the BS policies of Joe Biden---he hurt more than helped the average American. Now, the Build Back BS bill of Joe Biden would have further increased 10 times the high inflation we now have. Thank God for Senator Joe Manchin putting the brakes and saying no.
What?
No. The cbo score excluding the increased IRS provision showed a $367 billion deficit over ten years, total. The irs provision was a little blurry and cbo and treasury were far apart. Cbo scored the provision at like $125b and treasury said $400b.
You’ll notice I wrote “no real impact” on the budget because of this discrepancy. What I will say is cbo is often overly conservative. ACA came in as deficit neutral from cbo and in fact it reduced the deficit.
Biden could have been a better president but does not have a chance because of the soft coup his staff is orchestrating against Biden..... ........will Biden wake up
Sen. Joe Manchin: The Biden Administration Is "Staff-Driven," "It Is The Staff, Not The President"
SEN. JOE MANCHIN: I'm not blaming anybody. I knew where they were and I knew what they could and could not do. They just never realized it because they figured surely [they] can move one person, sure [they] can badger and beat one person up. Surely we get enough protesters to make that person uncomfortable enough that they'll just say okay, I'll vote for anything and just quit.
Well guess what: I'm from West Virginia. I'm not from where they're from and they just beat the living crap out of people and think they'll be submissive, period.
Sen. Joe Manchin: The Biden Administration Is "Staff-Driven," "It Is The Staff, Not The President"
SEN. JOE MANCHIN: I'm not blaming anybody. I knew where they were and I knew what they could and could not do. They just never realized it because they figured surely [they] can move one person, sure [they] can badger and beat one person up. Surely we get enough protesters to make that person uncomfortable enough that they'll just say okay, I'll vote for anything and just quit.
Well guess what: I'm from West Virginia. I'm not from where they're from and they just beat the living crap out of people and think they'll be submissive, period.
I indeed misunderstood that but still a lot of gimmicks where we dont now what the real cost will be and still too much for a bill that doesn't include a medicaid option for all and having just spent over a trillion dollars his other bill.
The deficit estimates assume the legislation’s spending and tax credits, such as the expanded child tax credit (CTC), expire as scheduled in the bill. The expanded CTC provisions alone would cost about $1.6 trillion over 10 years if made permanent. If the legislation’s other temporary tax credits and spending programs are also made permanent, the cost would approximately double to about $5 trillion and add $3 trillion to the national debt over 10 years, according to the CBO. The lack of stable funding required to extend the new programs creates uncertainty for taxpayers and beneficiaries as they may not be able to rely on the programs going forward, or new taxes will need to be levied.
The legislation would add to the federal deficit between 2022 and 2026, which is driven by larger upfront spending and tax cuts while many offsets are just phasing in. CBO estimates the deficit would increase by $749 billion over the first five years, while Tax Foundation estimates it would exceed $1 trillion. A short-term deficit could contribute to higher inflation, especially because the bill may increase the deficit in 2022 by upwards of $318 billion, according to Tax Foundation estimates.
huffpost so take it as you will:
In recent months, Manchin has told several of his fellow Democrats that he thought parents would waste monthly child tax credit payments on drugs instead of providing for their children, according to two sources familiar with the senator’s comments.
Continuing the child tax credit for another year is a core part of the Build Back Better legislation that Democrats had hoped to pass by the end of the year. The policy has already cut child poverty by nearly 30%.
Manchin’s private comments shocked several senators, who saw it as an unfair assault on his own constituents and those struggling to raise children in poverty.
Manchin has also told colleagues he believes that Americans would fraudulently use the proposed paid sick leave policy, specifically saying people would feign being sick and go on hunting trips, a source familiar with his comments told HuffPost.
In recent months, Manchin has told several of his fellow Democrats that he thought parents would waste monthly child tax credit payments on drugs instead of providing for their children, according to two sources familiar with the senator’s comments.
Continuing the child tax credit for another year is a core part of the Build Back Better legislation that Democrats had hoped to pass by the end of the year. The policy has already cut child poverty by nearly 30%.
Manchin’s private comments shocked several senators, who saw it as an unfair assault on his own constituents and those struggling to raise children in poverty.
Manchin has also told colleagues he believes that Americans would fraudulently use the proposed paid sick leave policy, specifically saying people would feign being sick and go on hunting trips, a source familiar with his comments told HuffPost.
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The CBO score was just BS politics (read parlamentarian) to give them/Manchin further reason for killing the bill. They didn't give a damn that infra scored poorly too.
News, Tabloids need to post sources when they involve themselves in character assassination. Anonymous sources, hearsay evidence, all just click-bait and meat for their biased readers.