President Joe Biden is having a tough week.
His signature, $3.5 trillion "Build Back Better" bill is hanging by a thread. Progressive Democrats want to spend even more money on universal childcare, free education, the Green New Deal, and a host of other leftist initiatives. Meanwhile, the few moderate Democrats are holding out for a lower price tag, and they're refusing to vote on the bill until the cost comes down.
In a desperate attempt to convince the American people to rally to his cause, our president has hit upon a novel argument: according to Biden, his $3.5 trillion plan actually costs zero dollars.
My Build Back Better Agenda costs zero dollars.— President Biden (@POTUS) September 26, 2021
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.
King Biden may not understand this yet, but declaring something true does not make it so. Even if the plan is "paid for" by higher taxes, it's not "free." You pay for your milk at the grocery store, but it doesn't "cost zero dollars." It costs what you paid for it, and you can bet that we'll be paying for Biden's agenda if it passes.
After being roundly criticized on social media for his ridiculous statement, Biden tried a slightly different argument. His Build Back Better agenda costs money, but, he says, it doesn't increase the national debt. Here he is trying to salvage his terrible agenda:
Here's the deal: unlike my predecessor's tax plan, every penny of my Build Back Better Agenda is paid for. pic.twitter.com/T1urUTbYdb— President Biden (@POTUS) September 30, 2021
Unfortunately for our failing president, this argument doesn't hold water either, as even the Washington Post points out (they gave him two Pinocchio's for this statement).
The only way a $3.5 trillion reordering of our economy doesn't add to the national debt is if you make assumptions that aren't based in reality.
The first assumption is that tax revenue from the "ultra-wealthy" will be enough to cover the costs of these new handouts. Let's put it in terms even King Biden can understand: it won't. We'll need to tax the middle class into oblivion to cover the costs of these programs, and since that isn't a politically viable solution, you can bet we'll just borrow more money to make up the difference.
The second assumption is that lawmakers will terminate new spending programs before they begin to add to the national debt. This is a trick used by both Republicans and Democrats. Rather than create revenue streams to fund free college permanently (to take just one example), lawmakers include a sunset provision in the bill. We can pay for free college for the next eight years, but after that Congress will have to decide whether or not to keep the program.
To say that the Build Back Better bill doesn't add to the national debt assumes that Congress will cut the program once the funding is all gone. That, of course, is a pipe dream. No elected official who isn't facing term limits will vote to end a popular social welfare program. Not even Republicans who campaigned on ending Obamacare had the courage to eliminate that unpopular fiasco. To assume that Congress will stop funding free college, free childcare, or child tax credits is the height of idiocy.
So, no, Biden's $3.5 trillion, "Build Back Better" boondoggle will not "cost zero dollars" or "add zero dollars to the national debt." It will cost untold sums of money and add untold trillions to our nation's debt. It will force our children and grandchildren to pay higher taxes and likely accelerate our nation's financial collapse.
Right now, the future of the bill is unclear. But what if, at some point in the future, Democrats take control of a larger majority of Congress? They'll immediately ram through an even larger spending package, and continue America's descent into socialism.
We must build a firewall against these policies before it's too late, and Article V of the Constitution gives us a way to do just that.
An Article V Convention of States is called and controlled by the states and has the power to propose constitutional amendments that force Congress to be fiscally responsible. These amendments can mandate a balanced budget, force Congress to cut spending, and limit taxation.
With this complete package of amendments in place, the federal government will be totally unable to consider proposals like Biden's. Instead, they'll be forced to use our money on only those things outlined in the Constitution, and our children and grandchildren will be saved from being saddled with this generation's reckless spending.
Five million Americans have joined the movement, and 15 states are on board. To add your name to the list, sign the petition below!