While the Biden Administration and Congressional Democrats continue to haggle over the size of their Reckless Tax and Spend bill, the Congressional Budget Office (CBO) told Senate Budget Committee Ranking Member Lindsey Graham (R-South Carolina) that without budget gimmicks, the legislation costs $4.9 trillion and adds $3 trillion in new debt.
- “Democratic leaders Nancy Pelosi and Chuck Schumer reacted furiously to this news, falling back on their claims that the Build Back Better Act is ‘fully paid for.’ Mrs. Pelosi says CBO has scored Mr. Graham’s ‘imaginary bill.’ But her bill is the real fiscal fantasy and ‘fully paid for’ is the lie of the year.”
- “Enter Sens. Lindsey Graham and John Cornyn, who asked CBO director Phillip Swagel to add up the cost of the bill that recently passed the House if all of its programs were made permanent. This is a more honest accounting because Democrats admit both that they want to make the spending permanent and that they’ve adjusted programs to make them fit under the Senate budget rules so they can pass with a mere 51 votes (including Vice President Kamala Harris ). Mr. Swagel’s response, sent on Friday, is a torpedo speeding toward the hull of Build Back Better. The dishonesty in the $1.75 trillion spending total is astonishing even by Congressional standards.”
- “Overall, Mr. Swagel says in his letter, CBO and the Joint Committee on Taxation project that the House bill would increase the deficit by $3 trillion over 10 years without the budget gimmicks and phony phase-outs.”
- “When they tell you the bill is paid for, they’re lying. When Nancy Pelosi brought it to the House with a CBO score of [$1.75 trillion], it was a lie. When she said it was [$365] billion to the deficit, it’s a lie.” – Senate Budget Committee Ranking Member Lindsey Graham (R-SC)
- “’The last thing I’m going to do is add more burdens to working families in South Carolina. And here’s my message to the Democratic Party: Quit lying about this bill. They should revote it in the House,’ said Graham. ‘We need to stop Build Back Better before it destroys this country.’“
- “[Graham] also warned that the Democrats’ ‘spending orgy’ that didn’t have budget ‘gimmicks’ would cost $4.9 trillion and add $3 trillion to the national debt. ‘The radical left couldn’t care less,’ Graham also said. ‘They are on a mission to pass this monstrosity come hell or high water.’”