(RightWing.org) – Vice President Kamala Harris made her name as a lawyer; she’s now shown the world why she’s not famed as an economist. Talking about the administration’s spending plans last Friday, she claimed the $1.75 trillion “Build Back Better” bill won’t cost taxpayers anything – even though tax increases are right there in the bill itself.
— Breitbart News (@BreitbartNews) November 12, 2021
Speaking at a November 12 press conference in Paris, Harris dismissed concerns the massive spending bill will supercharge the inflation already slashing the disposable income of ordinary Americans. She insisted, “It’s not going to cost anything for the American taxpayer,” ignoring the fact the bill contains tax boosts potentially affecting almost everyone in the US.
Harris’s words also show a deep ignorance of basic economics. She claimed, “Build Back Better is not going to cost anything. We are paying for it.” Yet, where are they getting the money? If borrowing finances spending, then that money must be paid back – and paying the interest on the government’s borrowing is already costing US taxpayers over $300 billion a year. By 2029, 10% of the federal budget will go to pay just interest. And Harris thinks spending another $1.75 trillion won’t cost us anything?
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