by Mitch Kokai
Senior Political Analyst, John Locke Foundation
President Joe Biden and other Democrats have smugly responded “zero” or “nothing” when asked what the massive Build Back Better plan will ultimately cost. Not to be rude, but this is an outright lie, as a new government analysis clearly shows.
“My Build Back Better Agenda costs zero dollars,” Biden tweeted on Sept. 25 from his White House account. “Instead of wasting money on tax breaks, loopholes and tax evasion for big corporations and the wealthy, we can make a once-in-a-generation investment in working America. And it adds zero dollars to the national debt.”
In the ensuing weeks, that lie got repeated by others. That includes White House spokeswoman Jen Psaki, who told gullible leftists in the mainstream media that the bill would cost nothing, and House Speaker Nancy Pelosi, who added the novel twist that the massive bill is “fully paid for.”
Since the lie went out over official social media, it wasn’t a slip of the tongue or the accidental hyperbole of a man in obvious age-related mental decline. It was an official White House policy statement, one that makes Biden’s whole administration look profoundly foolish, dishonest and deceitful.
No person with any schooling in basic math, economics, statistics or, alternatively, simply having plain common sense, would believe that spending trillions of dollars on nonproductive programs would actually result in zero net costs without massive added tax hikes. It’s simply not real.
That’s where the Congressional Budget Office (CBO) enters the picture. As it turns out, estimates for Biden’s plan from the CBO, the nonpartisan congressional think tank that officially “scores” new legislation for what it would cost the U.S. Treasury, show it would be the largest spending program ever undertaken by the U.S. And no, its costs aren’t zero.