Democrat spending spree doesn't add up

 Washington Examiner:

Democrats are facing major speed bumps in passing their social spending legislation after inflation clocked in higher than expected and the Congressional Budget Office found that their plans could add trillions to the deficit over the next decade.

The Bureau of Labor Statistics said on Friday that consumer prices increased 6.8% for the year ending November , the highest in nearly four decades. The new numbers threaten support for President Joe Biden’s Build Back Better legislation because centrist Democrats such as Sen. Joe Manchin have expressed concerns that more federal spending could further stoke inflation.

Immediately after the numbers were released, the U.S. Chamber of Commerce reacted by calling on lawmakers to slow down the spending bill and consider the effect its passage could have on the economy.

“With prices rising 6.8% over the past year, squeezing budgets for families and small businesses alike, it is time for Congress to hit pause on the reconciliation bill and not add any more fuel to the inflationary fire,” said Neil Bradley, the Chamber’s executive vice president and chief policy officer. “Rather than ‘building back better’ — the reconciliation bill will just be bringing back bad inflation.”

Just hours after lawmakers learned about the 6.8% inflation rate, they also learned that the House-passed version of the Democratic climate and social spending bill would increase federal deficits by $3 trillion over the next decade if its temporary provisions are made permanent, as Democrats say is their intention.

The Congressional Budget Office made the estimate at the request of Sen. Lindsey Graham, the top Republican on the Budget Committee, who has accused Democrats of budgetary gimmicks to reduce the headline price of their spending legislation. The House version of the bill has numerous spending measures that sunset early, which, if made permanent as Democrats intend them to be, would balloon the cost of the bill.

...

If a corporation were doing this they would face a fraud suit from shareholders and the SEC.  What Democrats are engaged in is the politics of fraud.  This mess should be rejected, and those who support it should be defeated in the next election. 

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