where is the money to pay for what we already have?
Senate Democrats reached agreement to pursue a $3.5 trillion reconciliation package to expand Medicare benefits, boost federal safety net programs and combat climate change.
Expand Medicare? We haven’t even fixed the current funding shortfall yet!
The wide array of planned health, education and social programs if adopted would represent a historic burst of federal spending.
They plan to pay for much of their package using tax increases on wealthy Americans and corporations.
Wealthy Americans only and corporations? No adverse consequences possible?
Who will pay to keep Social Security solvent? That was supposed to be the wealthy too.
These proposals are ongoing, long-term commitments that cannot possibly be sustained taxing only a small percentage of Americans while dealing with existing funding shortfalls and growing deficits.
Fiscal responsibility are dirty words.
“Policies should be paid for over the traditional ten-year budget window, rather than enacting spending now and promising pay-fors later.
Smart investments will have a positive effect on economic growth, but they should not be exaggerated, and any dynamic revenue gains should go toward addressing our high and rising national debt.
Finally, legislators must commit to enacting these new policies responsibly by setting reconciliation instructions that add to $0 or else reduce deficits on net.
Politicians should not be making up their own estimates, choosing their own scorekeeper, incorporating fantasy growth assumptions, or relying on future promises to pay for their spending today.”
Source: Committee for a Responsible Federal Budget