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.
The CBO concludes that the Build Back Better bonanza would add $3 trillion to U.S. deficits by 2031, an amount most would agree is a bit north of “zero.” If you keep those programs in force for the full 10 years, as will almost certainly happen, then the cost of the bill is humongous: $5 trillion added to our debt.
Whether this bill would cost $150 billion (if you include all the accounting gimmicks) or if it costs 3 trillion or even 5 trillion, the truth is that it will not cost nothing and it does not pay for itself. What we have also uncovered is that there is a huge tax break given to the rich, which is classic, because whenever you just add money to the deficit (or the national debt) that becomes a drag on our economy and ultimately a tax on the middle class.
Now there are fibs (such as demanding you had more people at your inauguration than you probably did) and there are lies. Lies like telling Americans that you can stop Covid if you are elected President or like telling Americans that something that will cost trillions is actually free. The former just gets under some people's skin. The latter matters to the credibility of everything a President stands for.
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Manchin, who previously has expressed general skepticism about approving aid that sends more checks directly to Americans.
It's a view of most people.
Slow Joe is standing at the precipice of being in a vegetative state. He doesn't even realize what he's saying any longer. He's just repeating whatever his handlers tell him to say. Hence the shutdown of pressers.
It would be sad if he weren't such a fucking asshole.
Kinda like you alky. Your nursing home/severe mental illness situation would be sad if you weren't such a fucking asshole.
Eventually, it would pay off most of it because of the huge numbers of jobs and again the improvements to the highway system that was built in the 50s and 60s will reduce costs of transportation. Infrastructure construction jobs helped build the middle class.
The millions of union jobs will pay taxes, and reduce the disparity in the GDP, increasing demand for housing in the suburbs. Top down economics increased the disparity.
National wifi service is very similar to the FDR era brought electrical power to every single household.
Clinton had Obama didn't implement bottom up is..
If President Biden gets it done, the Democrats and moderate Republicans will follow the same path to the future, instead of MAGA going back to the Jim Crow era, that the Republican party is doing right now.
Plus the railroad system needs billions of dollars of improvement across the country.
Decreasing the cost of supplies, will reduces inflation rates, because more people will have enough money to pay for gas and goods and services.
Eisenhower continued to follow bottom up economics by building the interstate highway system.
Alky you’ve been here since 2am your time get a life
GO OUTSIDE YOU PATHETIC FUCK
Roger Amick said...
Eventually, it would pay off most of it because of the huge numbers of jobs and again the improvements to the highway system that was built in the 50s and 60s will reduce costs of transportation. Infrastructure construction jobs helped build the middle class.
Bullshit.
0linsky promised the same shit with his 'shovel ready jobs' LIES.
It's the same shit with you assholes. You promise 600,000 good paying UNION jobs, and all you end up doing is laundering a shit ton of $$$$$$$$$$$$$ through a few choice grifters you guys can trust, and all the promises made turn out to be LIES.
Shovel ready, Solydra, Cash for clunkers...
It's always the same con.
Fuck you alky, you fucking pathological LIAR.
The Wall Street journal reported exactly what I have been a for months.
Most Federal Reserve officials signaled Wednesday they were prepared to raise their short-term benchmark rate at least three times next year to cool high inflation.
As expected, officials also approved plans to more quickly scale back its pandemic stimulus efforts in response to hotter inflation, opening the door to rate increases starting next spring.
Fed officials voted to hold rates near zero on Wednesday, but the latest projections are a significant shift from just three months ago. In September, around half of those officials thought rate increases wouldn’t be warranted until 2023.
It is the latest sign of how an acceleration and broadening of inflationary pressures, together with signs of an ever-tighter labor market, is reshaping officials’ economic outlook and policy planning.
Officials in their postmeeting statement described their goal of inflation moderately exceeding their 2% target as being met and said they would keep rates near zero until they were satisfied labor market conditions were consistent with maximum employment.
Brisk demand for goods, disrupted supply chains, temporary shortages and a rebound in travel have pushed 12-month inflation to its highest readings in decades. Core consumer prices, which exclude volatile food and energy categories, were up 4.1% in October from a year earlier, according to the Fed’s preferred gauge.
I wake up to pree. Then I read both sides and comment and go back to sleep
You are pathetic loser
Eventually, it would pay off most of it because of the huge numbers of jobs
So for sake of argument... let's do the math.
1 Job at 75000 will bring in less than $10,000 a year. But let's call it $10,000. Let's provide that tax for 10 years, which would be 100,000 in tax revenue from that new job.
to make up for 3 trillion dollars you would need to create over 30 million new jobs (on top of the new jobs you generally create) and have each of them last 10 years. They would all need to pay 75,000 or more.
When the best we generally see is 2 million or so in a year, 30 million seems a bit steep.
Doncha think Roger?
Clinton had Obama didn't implement bottom up is..
If President Biden gets it done, the Democrats and moderate Republicans will follow the same path to the future,
Fed Officials Project Three Rate Rises Next Year and Accelerate Wind Down of Stimulus https://www.wsj.com/articles/fed-officials-project-three-rate-rises-next-year-and-accelerate-wind-down-of-stimulus-11639594785
If they get rid of the work for more bs legislation, the average income will go past your number $75,000 and again increase taxes on the top one percent the disparity will change like in the 80s under Reagan era tax cuts.
Steep??? It's worth the risk.
Hey Alky I’m outside wandering around River St in Savannah when’s the last you left your room?
You pathetic fuck
Blogger Roger Amick said...
Clinton had Obama didn't implement bottom up is..
Alky pidgin english?
Anyone?
Fucktard-aye alky-aye.
But if they don't pass the BBB they should get this done.
Manchin (D-W.Va.) to get behind using the “nuclear option” to change the filibuster and break a months-long stalemate on voting rights legislation.
The flurry of talks — including dedicating a closed-door caucus lunch to the issue despite a public focus on passing President Biden’s climate and social spending bill — comes as Democrats are facing intense pressure to pass election legislation though there isn’t yet a clear path forward.
The legislation will help more people vote!
Manchin (D-W.Va.) to get behind using the “nuclear option” to change the filibuster and break a months-long stalemate on voting rights legislation.
If you read the actual argument is just states that people are "ramping up their pressure" on Manchin (and others). At the end of the story, there is an admission from Democrats that they do not have the votes to actually change the voting rules for this legislation.
I love how you have a Democratic Senator who is confused by how fast economic issues can pass on a 50-50 vote (when economic or debt ceiling issues can pass through reconciliation) where as general normal everyday legislation is part of the whole filibuster deal.
The reality is that their Federal voting rights bill is a loser. The vast majority of Americans do not support it and Democrats are just looking for a way to FORCE voting changes on Americans who don't want them.
Typical Democrats.
Anonymous Caliphate4vr said...
Hey Alky I’m outside wandering around River St in Savannah when’s the last you left your room?
You pathetic fuck
If I ran this blog I'd suspend it for the holidays. A good 30 days at least.
Alky would die.
If they get rid of the work for more bs legislation, the average income will go past your number $75,000 and again increase taxes on the top one percent the disparity will change like in the 80s under Reagan era tax cuts.
What in the ever living fuck is that supposed to mean?
Cali, we need an Alky-Biden to English decoder.
What in the ever living fuck is that supposed to mean?
Translation: Wish in one hand; shit in the other and see which one fills up first.
Roger like to post what he believes is economics, what it actually is is Socialist nonsense.
Bidenomics inflation cost $9,300 dollars in the $75,000 x two income family.
Since the goat fucker is a no income family......inflation is just another illusion to the dumbest asshole projecting here!!!!!!!!! BWAAAAAAAAAAAA!!!
Since the goatfucker is a no income family......inflation is just another illusion to the dumbest asshole projecting here!!!!!
Well if someone made no money, then inflation (what you pay for things) would actually be worse... not an illusion.
Oh, the mind of a liberal.
Since the goat fucker is a no income family......inflation is just another illusion to the dumbest asshole projecting here!!!!!!!!!
Damn you get dumber by the day
And fatter
LOL
Awesome retort shorty.....you are getting the hang of gibberish better than the goat fucker!!!!! BWAAAAAAAAAAA!!!!! Sad you think your shit don't stink.....LOLOLOLOLOL!!!
https://twitter.com/rlamick/status/1471227131510222852?t=PXimeO0rF-3nCyni3sYsAg&s=19
Choke down another few Chef Boyardee cans of spaghetti o’s tonight I’ll be at Vic’s on the River
Fatboi
And like Mike Pence because they are not traitors or Insurrectionists m
Democracy Can’t Survive Without More Like Liz Cheney
December 15, 2021 at 4:00 pm EST By Taegan Goddard 28 Comments
Walter Shapiro: “All that we need to save American democracy are more Republicans with the brass and sass of Liz Cheney. Democracy cannot survive if it is supported by only one political party. But there is still time (albeit not much) for prominent Republicans to break their silence and work to safeguard the 2024 elections.”
“Writing regularly about torture during the Iraq War, I never imagined that I could ever lionize a Cheney. But there are moments to remember that the single thing we share — a fervent belief in American democracy — is more important than all the differences between us.”
Anonymous Caliphate4vr said...
Choke down another few Chef Boyardee cans of spaghetti o’
BWAAAAAAAAAQ!!!!!!! Shorty trying to act like a tough asshole!!!!! Really shorty, you sure are an impressive asshole with a gaping mouth!!!!!!!!! LOLOLOLOL. Have some more vodka, maybe you can drink yourself a some more height!!!!!!! How's that shithole condo in the city???????? LOLOLOL...
Dennis is a near multi-millionaire.
He told us so.
fb://photo/10166356073395647?set=a.10150269707420647&sfnsn=mo
And the goat fucker is a flaming asshole.....he keeps proving that daily.......BWAAAAAAAAAAAAAA!!!!
Denny, why are you so angry?
James is too, as well as Alky.
Repeating what you told us Denny.
You said you are well over a Million dollars in net worth, yet, two of your fellow travelers here have/are begging for money, did you help them?
The Three Socialist Stooges of CHT where championing "Transitory Inflation" and no need for interest rate hikes by the Federal reserve.
So what do the Stooges think of the 2023 , 75 basis point increase by the Federal Reserve?
Scott will call it fake news to control everything by Sleepy Joe Biden and Pete Buttigieg, rrb's secret lover.
LAS VEGAS —
Trying to stave off dangerously low water levels in Lake Mead, officials in California, Arizona and Nevada have reached an agreement to significantly reduce the amount they take from the Colorado River.
The problem took on new urgency this summer, when the federal government declared a first-ever water shortage in the 86-year-old lake near Las Vegas .
The agreement, which was signed Wednesday after four months of negotiation, amounts to leaving leaving 1 million acre-feet of water in the lake over the next two years.
Water agencies in Southern California, Arizona and Nevada agreed to find water-savings from various sources and split the $200-million cost with the federal government.
The Colorado River has been chronically overused, and its flows have shrunk dramatically over the past 22 years during a megadrought that research shows is worsened by global warming.
In 2019, officials from the same states agreed to cutbacks aimed at reducing the risks of a crash at Lake Mead . But those proved insufficient as extremely hot, dry conditions have baked the Colorado River watershed, dramatically reducing flows.
If the lake continues to drop, the Southwest could face larger cuts that would affect farms and cities throughout the region.
“We’re experiencing what scientists are calling the new normal, a warmer, drier West,” the federal reclamation commissioner, Camille Calimlim Touton, said Wednesday during a speech that was livestreamed at the annual conference of the Colorado River Water Users Assn. “The basin is at a tipping point.”
Putting people in a desert is stupid.
Blogger KansasDemocrat said...
Dennis is a near multi-millionaire.
He told us so.
Fatty has also claimed to be anywhere from 5’ 10” to 6’ 4” and his weight has fluctuated on here from 180 to 220 so don’t believe everything that fat rub of goo claims
Kputz. They have to balance the responses to inflation increasing rates by increasing interest on bonds, with supply and demand issues that raised inflation rates. And increases in wages.
Federal Reserve policymakers said they will cut back on their stimulus more quickly at a moment of rapid inflation and strong economic growth, capping a challenging year with a pronounced policy pivot that could usher in higher interest rates in 2022.
Central bank officials released a policy statement and a fresh set of economic projections at the conclusion of their two-day meeting. The statement showed that officials decided to slow the monthly bond-buying that they had been using throughout the pandemic to keep money chugging through markets and to bolster growth more rapidly.
Officials are slashing their purchases by twice as much as they had announced last month, a pace that would put them on track to end the program altogether in March. That decision came “in light of inflation developments and the further improvement in the labor market,” according to the policy statement.
Speeding up the end of the Fed’s bond-buying will position the central bank to more promptly raise its policy interest rate — a more traditional and more powerful tool — if officials decide that doing so is necessary to keep inflation under control. The Fed’s economic projections suggested that officials expected to make three interest rate increases next year.
“With inflation having exceeded 2% for some time, the committee expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the committee’s assessments of maximum employment,” the Fed said in its new statement — making it clear that officials feel their inflation goals have been achieved and putting the onus for rate increases squarely on labor market progress.
By slowing bond-buying and moving toward rate increases, the Fed is adding less juice to the economic expansion. While officials spent much of the year laying out a patient path for winding down their pandemic-era help for the economy, they have turned more proactive in recent weeks as they have become more worried that a burst in inflation this year could linger. The Fed is supposed to keep prices stable while fostering a strong labor market, and those two goals are increasingly in tension.
Consumer prices climbed 6.8% in November from a year earlier, the quickest pace of increase since 1982. The Fed’s preferred inflation gauge has shown slightly slower gains but has also moved up sharply.
Fed officials initially expected a pop in prices this year to fade. Instead, pressures have broadened beyond goods affected by the pandemic, which have fallen victim to tangled supply chains, and into rent and shelter. In those big categories, upward trends can prove more lasting. Wages are climbing, as are consumer inflation expectations, which could also help price increases to persist.
Economic growth might slow a bit but if inflation rates drop the economy will continue to grow..
https://www.nytimes.com/2021/12/15/business/economy/inflation-fed-fomc-meeting-december-2021.html
Scott will call it fake news to control everything by Sleepy Joe Biden and Pete Buttigieg, rrb's secret lover.
What the fuck does anyone care about the Colorado river?
Remember the Benghazi vs Clinton failed.
The January 6th hearing might not fail.
The committee badly wants Meadows’s testimony because he was at President Donald Trump’s side on and before the events of January 6, and clearly has knowledge of several topics they are investigating, such as why it took Trump so long to intervene and try to end the violence on that day. Meadows doesn’t want to give that testimony, or hand over all of the documents the committee has requested.
The House vote is, in practice, a recommendation that the Justice Department charge Meadows criminally. In the last such referral in the insurrection investigation, the department acted quickly, getting a grand jury to indict Steve Bannon just a few weeks later. But unlike Bannon, who was a private citizen during the events in question, Meadows was an executive branch employee, so the Justice Department will have to consider the legal concept of executive privilege — the right of the president to shield communications from other branches of government like Congress.
Meadows argues he’s trying to protect presidential privilege by not testifying. But he’s handed over some documents already, including a bizarre PowerPoint presentation he was sent and text exchanges he had while the insurrection was taking place. Members of the committee have pointed out that he won’t even agree to testify under subpoena about these, which they say demonstrates contempt of Congress.
There’s much speculation about what Meadows might be trying to hide, but that question is unanswerable at this point. However, Cheney revealed more about what the committee might be trying to build toward, in comments alluding to questions about whether Trump obstructed an official proceeding with his actions “or inaction” on and around January 6. It remains unclear whether such a case will be made, or if the Justice Department will pursue it.
So basically....
The commission has nothing. But hopes after nearly a year of having nothing that Mark Meadows will break it wide open and give them something.
At this point the entire commission seems more intent on trying to uncover the non-hidden concept that Trump legally attempted to challenge the election in court.
The end of Democratic government around the world is happening now.
Even the strongest democratic nation in history the world is changing into an authoritarian nation. Across Europe and almost all of Asia with the exception of Japan, South Korea and Australia, are not Democratic countries.
Africa has never been like Europe.
Democratic governance is sliding backward in the U.S. and much of the world, according to a series of recent reports.
Why it matters: The future will be shaped by the push and pull of democratic and autocratic forces within countries and beyond their borders. If supporters of democracies can't halt democracy's retreat, freedom and civil liberties could follow.
Driving the news: President Biden held an online Summit for Democracy at the end of last week against the backdrop of pessimistic assessments about the health of democratic government globally.
In its 2021 report, the nonprofit Freedom House concluded the world is in a "long democratic recession," with democracy improving in only 28 countries while worsening in 73 — the biggest gap of the past 15 years.A recent report from the European think tank International IDEA found the number of "backsliding democracies" had doubled over the past decade and the number of countries moving in an authoritarian direction since 2020 outnumbered those going in a democratic direction.Data from the Swedish nonprofit V-Dem that was analyzed by the New York Times found the U.S. and its allies were responsible for an outsized share of global democratic backsliding over the past decade.
Between the lines: The data signals that for all the legitimate concerns about the rise of clearly autocratic countries like Russia and China, when it comes to democratic decline, the alarm is coming from inside the house.
Biden's democracy summit included plenty of steadfast democracies, but also leaders like India's Narendra Modi and Brazil's Jair Bolsonaro who preside over countries that have experienced a steep democratic decline.American democracy is arguably at risk as well — International IDEA included the U.S. on its "backsliding democracies" list amidst the passage of state laws that make it harder to vote and the installation of partisan loyalists in key election posts.The world has taken notice of democratic struggles within the U.S. — a recent Pew Research Center study found only 17% of people in surveyed countries called American democracy worth emulating, and 23% said it was never a good example.
What they're saying: In his opening remarks at last week's summit, President Biden called democratic erosion — which he blamed in part on the dissatisfaction of citizens with their democratic governments — "the defining challenge of our time."
The big picture: Democratic decline stems in part from the pandemic, as governments pursue policies to control the virus that involve restricting civil liberties like free movement and as citizens become frustrated that those policies haven't yet brought an end to COVID-19.
But as income inequality and more general feelings of insecurity rise, life in an illiberal democracy may seem preferable to the complexities of living under a full democracy.That means, as Biden told Congress in an address in April, that democratic leaders have to prove "that our government still works — and we can deliver for our people."
Context: Authoritarian countries like China are taking advantage of democratic woes to tout their own systems, Axios' Bethany Allen-Ebrahimian reported recently.
What to watch: How free and fair U.S. elections in 2022 and 2024 are.
America is still the democratic bellwether, and a repeat of the chaos of 2020 — or something worse — would be a crippling blow to democracies around the world.
You believe that the only reason is to get of Trump. Not to investigate the evidence and determine if they broke the law.
You want to undermine the credibility of the court system like you wanted since they lost over 60 challenges in the courts.
https://www.axios.com/global-decline-democracy-illiberal-democracies-9c34044f-1f15-4d56-a145-b08c325d98f4.html?utm_source=verizon
This has been bothering me for about a year since the January 6th incident.
If our country fails, eventually nuclear weapons will be used for the first time since 1945.
NATO will collapse when Russia invades Ukraine.
China will become the most powerful nation on earth.
Because Trump is an isolationist.. we won't have allies.
Unless the people prevail in the next election season, we will not survive.
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