Biden's $3.5 Trillion Spending Plan Will Leave Americans Poorer in the Long Run

Posted on AllSides September 14th, 2021
From The Right
(Photo by Andy Feliciotti on Unsplash)

As Congress wrangles over the details of a massive spending bill that's central to President Joe Biden's "Build Back Better" plan, a new analysis shows the proposal will leave America poorer in the long run.

Biden's plan to hike federal spending by about $3.5 trillion over the next 10 years—paid for with a combination of huge tax increases and up to $1.75 trillion in new borrowing—will decrease future economic growth and reduce private wealth, according to a new analysis from the Penn Wharton Budget Model (PWBM), a macroeconomic forecasting project based at the...

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