Ivy League analysis destroys Biden’s entire argument for multi-trillion-dollar ‘Build Back Better’ spending plans

FEE’s Brad Polumbo writes, “President Biden continues to fight to pass some version of his multi-trillion-dollar ‘Build Back Better’ spending agenda through Congress. In its various iterations, the plan includes trillions spent on everything from electric vehicle tax credits and green energy subsidies to taxpayer-funded childcare-for-all to housing subsidies and more. The Biden administration claims that the latest version would involve $1.85 trillion in new spending.

The president has made lofty promises about what we’d get in exchange for such a historic investment. (After all, that price tag is more than the inflation-adjusted cost of FDR’s New Deal!)

NEW: Ivy League Analysis Destroys @JoeBiden’s Entire Argument for Multi-Trillion-Dollar #BuildBackBetter Spending Planshttps://t.co/qYdOKA32V6

— Brad Polumbo ??⚽️ ?️‍? (@brad_polumbo) November 6, 2021

‘[This is] a framework that will create millions of jobs, grow the economy, invest in our nation and our people, turn the climate crisis into an opportunity, and put us on a path not only to compete, but to win the economic competition for the 21st century against China and every other major country in the world,’ Biden said in a recent speech. ‘It’s fiscally responsible. It’s fully paid for…’

Simply put, Biden argues that his plan to spend trillions will create jobs, grow the economy, and increase wages—all without adding to the $28.9 trillion (and counting) national debt. Yet a new Ivy League economic analysis undercuts every single one of these claims.”

Read the entire column.