President Biden claimed his $3.5 trillion trojan horse-like agenda will cost “zero dollars.”
On Saturday, a post from Biden’s Twitter account read, “My Build Back Better Agenda costs zero dollars.”
He argued currently, money is “wasted” on “tax breaks, loopholes, and tax evasion” and needs to be redistributed to American workers.
He continued, “And it adds zero dollars to the national debt.”
According to the Associated Press, budget and spending watchdogs have raised questions, and Biden’s budget officials have estimated the national debt would inflate by nearly $1.4 trillion over ten years.
There is no official text for Biden’s Build Back Better bill; the budget resolution framework allows up to $1.75 trillion in new borrowing not paid for with more taxes, according to the Committee for a Responsible Federal Budget.
In just two years, the United States has borrowed $6 trillion to help the economy recover from the pandemic.
The Wall Street Journal also mocked the “zero dollars” talking point used by Deputy Press Secretary Andrew Bates in an editorial.
“One requirement of a modern political flack is being incapable of embarrassment,” the editorial read.
On Friday, during his COVID-19 speech, Biden himself pushed the “zero dollars” idea.
“It is zero price tag on the debt. We’re paying — we’re going to pay for everything we spend,” he said.
Biden went so far as to argue his bill was actually a tax cut.
“Right now, if you take a look at the — the reconciliation piece, a trillion dollars of that is tax cuts, not raising anybody’s taxes; it’s tax cuts,” he said. “People are going to be paying less taxes.”
Afterward, he admitted the only people paying fewer taxes would be “working-class folks.”
Biden’s Build Back Better agenda would increase tax rates on businesses and those making over $400,000 a year to enable the government to subsidize elder and child care, universal pre-K, and offer two free years of college.
Biden’s agenda would increase spending on food stamps, housing, green energy subsidies, government-funded health care, and programs for electric vehicles.