Congressional Democrats precluded the Congressional Budget Office from showing that the $2.4 trillion entitlement spending bill is realistically a $4.6 trillion bill that will stoke inflation, reduce GDP growth, jobs and incomes. This sleight of hand was mostly achieved by assuming new entitlement spending would only last a few years. Name one entitlement program that hasn’t become permanent.
If the $2.4 trillion bill passes, total government spending bills in the past year would exceed $6 trillion on paper but more likely $12 trillion on a permanently scored basis. This is an unprecedented passage of spending equal to 50% of our GDP in a 12-month period. Add in future contingencies for recessions, pandemics, etc. and we are in uncharted waters
When will people learn that what the government giveth with one hand, it taketh away with increased prices and recessions. Unions know this which is why they’re getting huge cost of living increases cranked into every negotiation. This is the beginning of a wage/price spiral like the 1970s with mothers demonstrating in the streets against rising food prices. To stop the 13.8% inflation then the Federal Reserve had to raise interest rates to 20% which caused two recessions in a row. It seems Americans prefer learning the hard way instead of from history.