4 ms·

Biden's infra plan was $550bn in new spending, which was offset in only $50bn of new revenue and $110bn of spending reductions. So, on net, it was massively inf

by 0xy 2mo ago

Biden's infra plan was $550bn in new spending, which was offset in only $50bn of new revenue and $110bn of spending reductions. So, on net, it was massively inflationary and toasted the budget. That was just one proposal with half a trillion.

solid_fuel 2mo ago
Would you care to provide a citation for that? According to any of the reporting I can find, the Inflation Reduction Act: "This bill would raise $737 billion in revenue while spending $437 billion. The remaining $300 billion would go toward deficit reduction." [0] [0] https://en.wikipedia.org/wiki/Build_Back_Better_Plan#Inflation_Reduction_Act https://en.wikipedia.org/wiki/Build_Back_Better_Plan#Inflati... This is pretty much the same story with every major policy proposal from the Biden administration. They all included plans to cover the expected costs.
- 0xy 2mo ago
  You are wrong. CBO. https://www.cbo.gov/publication/57406 https://www.cbo.gov/publication/57406
  - solid_fuel 1mo ago
    I am right. CBO. https://www.crfb.org/blogs/cbo-scores-ira-238-billion-deficit-reduction https://www.crfb.org/blogs/cbo-scores-ira-238-billion-defici... It's pretty pointless to compare individual bills though as they are usually packaged up with the whole goals of the administration. And, as expect, Democratic administrations are far more fiscally responsible and consistently propose packages and goals that reduce the deficit.
    - 0xy 1mo ago
      You just linked a completely irrelevant blog post about a completely different act. You seem to have conflated the infrastructure bill with the inflation reduction bill. Notably, and tellingly, any purported debt reduction from the inflation bill was made irrelevant from the $300bn of extra debt from the infra bill. Let me know when you have an actually relevant source.
      - solid_fuel 1mo ago
        It's literally from the Committee for a Responsible Federal Budget but sure, go off LMAO. You seem laser focused on one specific bill (presumably the one bill from the Biden admin you could find with a deficit) but again, federal policy is larger than that.

by 0xy 2mo ago

solid_fuel 2mo ago

Would you care to provide a citation for that? According to any of the reporting I can find, the Inflation Reduction Act: "This bill would raise $737 billion in revenue while spending $437 billion. The remaining $300 billion would go toward deficit reduction." [0] [0] https://en.wikipedia.org/wiki/Build_Back_Better_Plan#Inflation_Reduction_Act https://en.wikipedia.org/wiki/Build_Back_Better_Plan#Inflati... This is pretty much the same story with every major policy proposal from the Biden administration. They all included plans to cover the expected costs.

0xy 2mo ago
You are wrong. CBO. https://www.cbo.gov/publication/57406 https://www.cbo.gov/publication/57406
- solid_fuel 1mo ago
  I am right. CBO. https://www.crfb.org/blogs/cbo-scores-ira-238-billion-deficit-reduction https://www.crfb.org/blogs/cbo-scores-ira-238-billion-defici... It's pretty pointless to compare individual bills though as they are usually packaged up with the whole goals of the administration. And, as expect, Democratic administrations are far more fiscally responsible and consistently propose packages and goals that reduce the deficit.
  - 0xy 1mo ago
    You just linked a completely irrelevant blog post about a completely different act. You seem to have conflated the infrastructure bill with the inflation reduction bill. Notably, and tellingly, any purported debt reduction from the inflation bill was made irrelevant from the $300bn of extra debt from the infra bill. Let me know when you have an actually relevant source.
    - solid_fuel 1mo ago
      It's literally from the Committee for a Responsible Federal Budget but sure, go off LMAO. You seem laser focused on one specific bill (presumably the one bill from the Biden admin you could find with a deficit) but again, federal policy is larger than that.