An analysis found that a 10-year “permanent Build Back Better” would increase budget deficits by $2.75 trillion
Is it appropriate for the Democrats to tout their proposals as if they were permanent programs at the same time as they insist that they are not? Of course not. But thisThe Child Tax Credit expansion in the bill lasts for but a single year, at athe bill borrows from 2023 - 2031’s tax revenue to pay for spending in 2022The child care and preschool portions of the bill are funded through 2027 at a combined total of $381 billion compared to $752 billion if extended for the entire 10 year period.
The nature of Congress’s practice of reporting spending and revenue based on 10-year windows hide the fact that, is intended to be made up for by new revenueBut in the meantime,, and whatever the effects may be of deficit spending, those effects will be felt. After all, inflation isn’t a spirit or a being which will restrain itself if it “knows” that eventually there will be more tax revenue coming in.
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