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Psaki Simply Says 'It Won't' in Response to How Dems' $3.5 Trillion Bill Will Not Increase Debt

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White House press secretary Jen Psaki was not willing to elaborate Tuesday on why Democrats’ $3.5 trillion “Build Back Better” bill would not increase the national debt.

Of course, the price tag is up in the air as Democrats seek a top line that moderate Democratic Sens. Joe Manchin and Krysten Sinema are willing to stomach, but the essence of the legislation has remained the same: starting a bunch of new open-ended entitlement programs.

Some big-ticket items include taxpayer-funded pre-K, rental assistance payments, free community college, paid family and sick leave, expanded health care benefits, enhanced child tax credits and climate change initiatives.

“Does the president still believe that Build Back Better will not add a dime to the national debt?” a reporter asked Psaki during a Tuesday White House briefing.

“Correct. It won’t,” she responded.

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“Why should Americans believe that?” the reporter followed up.

“Because it won’t,” Psaki answered before trying to move on to another question.

The reporter understandably wasn’t ready to accept Psaki’s glib response without at least one more pass at the topic.

“[President Joe Biden] says he wants to get more taxes in,” he said. “What if the economy goes sour? Lots of things can happen. You’re going to tell … future generations not even born yet that they’re not on the hook for this? Is that right?”

“That’s right, and hopefully you’ll report accurate information yourself,” Psaki said.

Well, here’s some accurate information: Even the $3.5 trillion price tag is far less than the legislation is likely to cost.

The Committee for a Responsible Federal Government estimated the true cost of the bill would be between $5 trillion and $5.5 trillion over the next ten years, because some programs are only partially funded by the legislation.

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As the reporter hinted in his exchange with Psaki, one problem in determining whether the bill is paid for is that it counts on new revenue generated by taxing corporations and the “rich” more heavily.

However, hiking the corporate tax rate to the levels Democrats are proposing would make the U.S. one of the highest-taxed countries in the world, which is likely to hurt economic and job growth.

America’s combined average federal and state corporate income tax would be nearly 6 percent higher than China’s 25 percent rate.

Psaki has no idea whether the federal debt will increase if the $3.5 trillion reconciliation bill is passed into law. Strong evidence suggests it will likely go up by trillions.

There’s some accurate reporting for you, Ms. Psaki.

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Randy DeSoto has written more than 2,000 articles for The Western Journal since he joined the company in 2015. He is a graduate of West Point and Regent University School of Law. He is the author of the book "We Hold These Truths" and screenwriter of the political documentary "I Want Your Money."
Randy DeSoto is the senior staff writer for The Western Journal. He wrote and was the assistant producer of the documentary film "I Want Your Money" about the perils of Big Government, comparing the presidencies of Ronald Reagan and Barack Obama. Randy is the author of the book "We Hold These Truths," which addresses how leaders have appealed to beliefs found in the Declaration of Independence at defining moments in our nation's history. He has been published in several political sites and newspapers.

Randy graduated from the United States Military Academy at West Point with a BS in political science and Regent University School of Law with a juris doctorate.
Birthplace
Harrisburg, Pennsylvania
Nationality
American
Honors/Awards
Graduated dean's list from West Point
Education
United States Military Academy at West Point, Regent University School of Law
Books Written
We Hold These Truths
Professional Memberships
Virginia and Pennsylvania state bars
Location
Phoenix, Arizona
Languages Spoken
English
Topics of Expertise
Politics, Entertainment, Faith




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