fbpx

Pelosi’s $4.5 Trillion Leftist Wishlist

While the world is reeling from horrific scenes coming out of Afghanistan and concerns over a two-tier society being created through vaccine mandates, the Democratic House of Representatives moved forward on a massive social engineering project with a price tag of $4.5 trillion. The COVID pandemic turned Washington D.C. into a money printing machine, but this latest proposal is shocking even by D.C. standards.

The Family Research Council’s Connor Semelsberger said “It really is the most progressive priorities we’ve seen out of the Democrat Party put into one proposal. This bill is not what families want. It really is this liberal wish list that is couched in this language for being about families when in actuality it’s really about liberal elites.”

Economist Stephen Moore told CBN News’ Faith Nation he’s aghast at how much money the U.S. government plans to borrow. “This is a gigantic amount of money. I have nothing good to say about this. We should be saving money right now not spending it.” Moore continued “I am very worried about inflation. If you pass another $4.5 trillion of debt borrowing, that’s going to be financed by printing more money and when you print more money, that means more inflation”.

Procedure Matters

Earlier this week, Speaker Pelosi implemented an obscure House rule to have a single vote on the current budget proposal which included a ‘deem and pass’ provision allowing the chamber to pass a $3.5 trillion budget resolution AND advance a $1 trillion bipartisan infrastructure bill. The vote allows Democrats to write and approve a massive spending package without any Republican support and puts the Senate-passed infrastructure plan on a path to final passage in the House.

To use ‘deem and pass”, instead of voting directly on passage of a bill, the House takes a vote on the rule – but they don’t need to take a second vote on the bill itself; it has been deemed to have passed when the rules resolution was adopted. . . two measures passed for the price of one vote. Deeming denies full debate and deliberation and gives the Rules Committee, acting on behalf of the Majority leadership, the power to make decisions that citizens expect their elected representatives to be making through separate and transparent votes.

A group of moderate Democrats had clashed with Pelosi over when to vote on the $1 trillion bipartisan infrastructure bill – but in the end, they caved. Both the bi-partisan infrastructure plan and the budget resolution still have a long way to go before they are passed into law, but this was a huge step in the process and a major win for Pelosi. The final reconciliation package, once it is drafted, is expected to be considered in the fall.

Looking Inside the Bi-Partisan “Infrastructure” Deal

The $1 Trillion bipartisan infrastructure bill that passed in the Senate, with the support of 19 Republicans, has less than $200 billion in what is typically considered infrastructure. (i.e. building and/or repairing roads and bridges)

Some of the “essential” infrastructure items in the bill include:

$2.5 billion in green energy subsidies for schools and non-profits

$5 billion for low/zero emissions school buses

$16.3 billion for DOE renewable energy and efficiency programs

$2.1 billion for carbon dioxide transportation infrastructure

$2 billion for the EPA

$1 billion for the Appalachian regional commission

$250 million for reducing truck emissions at ports

$250 million for electric ferries

$10 million for the “Pollinator-friendly practices on roadsides” program

$50 million for studies on how to tax us more with road usage and per-mile fees

The Green New Deal

The actual budget resolution passed yesterday gives committees budget targets but leaves it to them to sort out the details in a later reconciliation bill. This outline is a “wish list” for socialist policies, including climate change initiatives identified in the Green New Deal (GND), a 14-page nonbinding resolution introduced to Congress in February 2019 by Rep. Ocasio-Cortez (D-NY) and Sen. Ed Markey (D-Mass.).

The GND’s progressive spirit is reflected in the calls for the protection of workers’ rights, community ownership and universal healthcare. The main goal of the plan is to bring U.S. greenhouse gas emissions down to net-zero and meet 100% of power demand in the country through clean, renewable, and zero-emission energy sources by 2030. The U.S. currently gets 80% of its energy from coal, petroleum, and natural gas. Hence, the kind of overhaul the deal is calling for would be very expensive and require significant government intervention. The American Action Forum pegs the cost at $93 trillion.

GND calls for the creation of millions of jobs to provide a job guarantee to all Americans, promotes social justice and equity, includes universal pre-K for 3- and 4-year-olds and makes community college tuition-free for two years. It also establishes a Civilian Climate Corps, adds new dental, vision and hearing benefits to Medicare coverage and would make a “historic level” of investment in affordable housing.

U.S. Debt has Exploded in the Past Two Years

Thanks to the cavalcade of economic relief bills prompted by the COVID-19 crisis, the U.S. federal debt hit $28.2 trillion in 2021. The CARES Act of March 2020 added $2.2 trillion to the tab and by the end of the year, federal stimulus bills pushed last year’s deficit alone to $3.1 trillion. President Biden pushed through a $1.9 trillion American Rescue Plan Act in March 2021 for an increase of $7 trillion in two years.

This is staggering when you consider that our entire national debt didn’t hit $7 trillion until 2004. In other words, the U.S. has accumulated as much debt in the past two years as it did in its first 228 years. With this latest Democratic proposal, an additional $4.5 trillion would be added to the record breaking $28.2 trillion. Most creditors don’t worry about a nation’s debt until it is more than 77% of gross domestic product (GDP); that’s the point at which added debt cuts into annual economic growth, according to the World Bank. The United States debt to GDP ratio reached 129% in 2020 and is continuing to grow. In other words, we owe more than we produce in goods and services for an entire year, and then some.

Summary

If just the $3.5 trillion budget passes, every American child will be burdened with $600,000 in debt over his or her lifetime. This is nothing short of generational theft. The concept of fiscal responsibility no longer exists in Washington, D.C. and has been replaced by the decision to forcibly shut down large sections of the economy and then spend massive, unprecedented amounts of money for compensation.

James Taylor, president of the Heartland Institute, said in a statement on the current proposal:

“This partisan Democratic wish list of leftist priorities treats the American economy as if it runs on Monopoly money. Not only is this bill partisan and divisive, but it would dramatically and needlessly accelerate the financial ruin of this country.”

Democrats are poised to cram through a $4.5 trillion dollar bill with everything they’ve ever wanted because Democrats play for keeps. Sooner or later the Right will have to square with just how self-destructive it is to NEVER use your power while the other side spends every waking moment using theirs.

Share This Post

Share on facebook
Facebook
Share on twitter
Twitter
Share on pinterest
Pinterest
Share on email
Email

Leave a Reply

Your email address will not be published. Required fields are marked *

Sign Up

Sign up to get new posts in your inbox and updates from Elaine.