After months of negotiations, Manchin is still pressing for cuts in a bill that originally had an estimated $3.5 trillion cost. By pointing directly at Manchin’s expressed concerns, Friday’s reports underscored his crucial role as Democrats battle to complete a package delivering many top Biden domestic goals.
The political sensitivity of inflation and its impact on the Democratic bill, a collection of family services, health care and climate change priorities, was illustrated as leaders of both parties tried to spin the numbers to their advantage. Republicans argued that the legislation’s expenditures would further feed inflation, which has been driven by supply chain delays making products less available and spending prompted by a strong underlying economy.
Adding any additional juice to the economy might worsen inflation. But the extra fiscal stimulus over the next several years in Democrats’ bill would be less than 1% the size of the entire U.S. economy, making its likely inflationary impact mild, said the nonpartisan Committee for a Responsible Federal Budget.
“If you believe these programs go away after one, two or three years, you shouldn’t have a driver’s license,” said Sen. Lindsey Graham of South Carolina, top Republican on the Senate Budget Committee, who requested the CBO estimates. He said the bill’s higher price tag and rising inflation meant Democrats’ legislation would be “lethal to the economy and lethal to your paycheck.”
Outside groups including the Committee for a Responsible Federal Budget and the University of Pennsylvania’s Wharton School of Business have produced similar estimates about the legislation’s cost if its programs were permanent. CBO numbers usually have more clout in Congress because the agency’s impartiality is respected.
Hopefully Senator Manchin and Sinema will hold the line. I hope democrats and leftists continue their strategy of unhinged bullying of these senators which will make them dig in further.
FuckJoeManchin
keep up your blind neutrality and you'll end democracy in this country for sure!
4 YEARS of TRUMP, REPUBLICANS gave themselves a $2.3 Trillion Tax Cut & REPUBLICANS created: The Largest US Deficit in American History! REPUBLICANS denied Covid-19 even existed. REPUBLICANS played Politics wherever possible, which contributed to 780,000+ American Deaths!
Which of these Better Home and Gardens chairs is inflated? Inflation is in your stubborn brain.
Military spending is more than 4x higher than this bill
Seriously? Do your job as journalists and state why inflation is high and what other factors may be causing costs to be high. I’ll give you a push in the right direction… it starts with “pandemic”.
Prices rose less in November than October. Hoping this continues to trend downward. Hoping that the wages upward trend also continues.
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