Spending your money to shrink the economy

Rapid Response

Biden’s plan to bankrupt America will do even more damage than we thought.

That’s according to a new study from the Penn Wharton Budget Model, which found that the third installment of his American Bankruptcy Plan will cost more than Biden says while shrinking the economy.

With a price tag of $2.5 trillion over 10 years, the proposal would cost $700 billion MORE than previously expected.
After spending all that money, the proposal would shrink the economy by 0.4% by 2050.
And American workers? The proposal would reduce their hours.

And that’s after the Penn Wharton Budget Model found that the second installment of the American Bankruptcy Plan (his so-called “infrastructure” proposal) would ALSO shrink the economy and lower wages.

Altogether, the plan would shrink the economy by nearly 1 point, lower wages, and decrease private investment over the next three decades.
The plan’s massive tax hikes alone would lower GDP by 0.49% in 2050.

Yikes…spending trillions of your tax dollars and raising taxes to shrink the economy and reduce hours for workers. Only the swamp would think that is a good deal for America.