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Political Discussion
Reply to "Biden strikes out with King Manchin"
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[quote=Anonymous][quote=Anonymous]The $3.5T bill is ridiculous. It's not clear what is in it and no way to balance it with future revenue. We are spending money like it grows on trees. [/quote] $3.5T is the gross cost, not the net cost after accounting for additional tax revenues and other spending cuts. The plan had been to pay for nearly all of it with offsetting tax increases and spending decreases. However, the “moderates” who are so very concerned about the debt and deficit have been nixing all of the additional revenue streams (Medicare drug price negotiation, corporate tax rate increase, capital gains increase, etc.). I have yet to hear any of them argue against any of the specific spending plans. The objections are all to 1) the ways to pay for it, and 2) the gross cost of the bill.[/quote]
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