Bill that Biden says pays for itself actually adds $3 trillion to deficit, CBO warns

( Democrats have been claiming for some time now that President Joe Biden’s Build Back Better bill would essentially pay for itself over time.

But, that has been proven to be flat out untrue.

A new analysis conducted by the Congressional Budget Office, in fact, found that the BBB Act would instead add roughly $3 trillion to the country’s deficit over the next 10 years if the measures included in it were made permanent.

Republicans sent a request to the CBO for it to analyze the bill based on the policies included being eventually made permanent fixtures of law by Congress over the next 10 years. That’s a much longer-term view of the bill’s impact than the cost analysis conducted by the Treasury Department.

Included in the act are measures such as an expansion of Medicaid, extra support for child care, funding for home health care, universal pre-K, and approximately $550 billion that will be dedicated to initiatives on climate change.

It also would extend the expansion of the child care tax credit to $3,600 for another year, and would eliminate the federal cap on SALT deductions, or state and local taxes.

In addition, the bill would increase taxes on the highest earners in the country as well as on corporations.

The recent analysis of the bill shows that it won’t, in fact, pay for itself. In response to the report being released, Democratic Senator Joe Manchin, a moderate whose vote will ultimately prove pivotal in the bill’s outcome, said the information was “very sobering.”

Talking about upcoming meetings he’s going to have with Biden, Manchin said:

“We’re going to talk about exactly what happened on Friday with the CBO score and inflation reports and things of that sort.”

Republican Senator Lindsey Graham from South Carolina, who is the ranking member of the Senate Budget Committee, commented about the new findings:

“I very much appreciate CBO scoring Build Back Better without budget gimmicks. We all know that the new provisions will not sunset — they never do.”

This has been a concern of Republicans right from the beginning. Democrats have claimed that many of the provisions in the BBB bill would “sunset,” or expire after a certain period of time, but that rarely happens.

Republican Senator Ron Johnson, in referencing a quote from former President Ronald Reagan about new programs the government starts, said:

“Government programs, once launched, never disappear. Actually, a government bureau is the nearest thing to eternal life we’ll ever see on this earth!”

He continued by saying the latest CBO score dispels “the lie that BBB is fully paid for and will not add a dime” to the country’s debt.

“Oops, guess the Democrats forgot to tell the American people that. This latest example of Democrat governance reveals how dishonest Congressional Democrats are in trying to sell their radical far left socialist agenda to the public.”