Democrats’ “Build Back Better” agenda will only further exacerbate the economic hardship families are facing right now.
December 15, 2021
Democrats’ ‘Build Back Better’ Agenda Projected to Hurt Economic Growth and Increase National Debt
Joe Biden and the Democrats’ Build Back Better Act will decrease GDP by 0.2% while increasing our national debt by 1.5% by 2050, according to a new study from the Penn Wharton Budget Model.
If you remove the budget gimmicks Democrats inserted into the bill to lower its price tag, those numbers increase exponentially.
Penn Wharton Budget Model: “In an alternative, illustrative scenario in which all temporary provisions in H.R. 5376 are made permanent, spending would instead total $4.6 trillion over the 10-year budget window. In this scenario, by 2050 federal debt increase by 24.4 percent and GDP would fall by 2.9 percent relative to current law.”
Bottom line: Americans are already struggling with skyrocketing prices and supply chain bottlenecks as a result of Democrats’ big-spending policies. Their “Build Back Better” agenda will only further exacerbate the economic hardship families are facing right now.