Joe Biden

Big-Spending Biden

We have record-setting national debt. Biden wants even more.

|

Which presidential candidate will bankrupt America first, Donald Trump or Joe Biden?

Last year, we compared the costs of the leading Democratic candidates' promises. At that time, Biden, to his credit, proposed the least new spending. Kamala Harris promised the most. She wanted to add $4.2 trillion to America's debt. Her lavish promises didn't win her supporters; she dropped out soon after. But now she's Biden's running mate, and Biden promises to spend more.

That's unusual.

Historically, Democrats moved left during the primaries, and then back toward the center once nominated. Not this time. Biden's people met with Bernie Sanders' staff and concocted a grotesque orgy of spending. That's the subject of my video this week.

"Joe Biden has been lurching to the left on federal spending for years, first as a senator, then vice president, now as a presidential candidate," says Pete Sepp, president of the National Taxpayers Union. "Tax, spend and borrow is going to bankrupt the nation."

Originally, Biden proposed $170 billion a year in new "climate" spending. Now, he wants $500 billion. It will go for things like "green infrastructure … more efficient windows … 500,000 charging stations for electric cars."

"This is the way that governments grow at the expense of the American people," says Sepp.

I push back. "So they spend it. So what? We'll have more infrastructure."

"What we won't have is infrastructure that's efficient or effective," Sepp replies. "We will have holes in the ground and mass transit that people won't ride."

Biden wants to spend $77.5 billion more to pay caregivers for children and the elderly.

"A good thing?" I suggest.

I like Sepp's answer. "Why not leave more money in people's pockets … so they can afford to provide care for their families? We as taxpayers know better how to take care of our families and ourselves than some distant government."

Biden wants $64 billion more for housing subsidies, saying, "Housing should be a right."

"A right to housing" may sound reasonable. So might a right to food, clothing, college, health care, etc.

After all, the Bill of Rights did grant Americans a right to free speech, free exercise of religion and the right to keep and bear arms.

But there's a key difference. Those rights mean: Government must leave us alone.

But a "right" to housing—or college, health care, etc. means government forcibly takes money from some Americans and gives it to others. That's very different.

As I write, Biden's new spending proposals total $1.2 trillion a year.

"We can't afford it!" complains Sepp. "Sooner or later, every nation faces a reckoning. Joe Biden's policies, if enacted in full, draw that reckoning even closer."

I say to Sepp, "We've been taxing and spending and borrowing, and except for COVID, we were doing well!"

"Deficits and debt don't matter until, suddenly, spectacularly, they do!" he replies. "No one ever knows when doomsday happens until it already has. Ask the folks in Greece. Ask the folks in Weimar, Germany."

The Weimar Republic printed so much money that the price of bread rose from 250 to 200,000 million marks. People brought wheelbarrows full of money with them when wanted to buy something.

Will it happen in America? No one knows. But eventually, we'll have to pay our debts. A rubber band stretches and stretches but at some point, it breaks.

Our national debt is now a record $26 trillion.

"Deficits and debt destroy economic growth," says Sepp. "It's going to hurt the American people. It's coming."

Next week, I'll compare Biden's spending plans with President Trump's.

COPYRIGHT 2020 BY JFS PRODUCTIONS INC.
DISTRIBUTED BY CREATORS.COM

NEXT: Joe Biden Does Not Understand the Second Amendment

Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time. Report abuses.

  1. why do you think the Dems are pushing for a ginormous additional bailout “stimulus” instead of a mere trillion bucks or so?
    because it’s going to be the baseline budget for Harris/Biden going forward.

    1. Hi everyone……..Making money online more than $15k just by doing simple work from home. I have received $18376 last month. Its an easy and simple job to do and its earnings are much better than regular office job and even a little child can do this and earns money. Everybody must try this job by just use the info on this page. … Click For Full Detail.

      1. I am making $165 an hour working from home. i was greatly surprised at the same time as my neighbour advised me she changed into averaging $ninety five however I see the way it works now.YZJ I experience masses freedom now that i’m my non-public boss. that is

        what I do………………Money90

    2. ●▬▬▬▬PART TIME JOBS▬▬▬▬▬●
       
      I am making $165 an hour working from home. i was greatly surprised at the same time as my neighbour advised me she changed into averaging $ninety five however I see the way it works now. I experience masses freedom now that i’m my non-public boss. that is what I do……
      ↓↓↓↓COPY THIS SITE↓↓↓↓
      cc
      HERE►Click here For Full Details

    1. I make up to $90 an hour on-line from my home. My story is that I give up operating at walmart to paintings on-line and with a bit strive I with out problem supply in spherical $40h to $86h… CMs someone turned into top to me by way of manner of sharing this hyperlink with me, so now i’m hoping i ought to help a person else accessible through sharing this hyperlink…

      strive it, you HERE?….. http://Cashapp1.com

  2. Kudos for John Stossel, one of the last (true) libertarians. Him being unaffected by TDS probably helps a lot too.

    1. ✔✔✔✔ Start making cash right now… Get more time with your family by doing j0bs that only require for you to have a computer and an internet access and you can have that at your home. Start bringing up to $8894 a month. I’ve started this j0b and I’ve never been happier and now I am sharing it with you, so you can try it too. You can check it out here…
      ++++++++++++++➤➤ReadMore.

  3. Biden has to do that. He is trying to clinch the Democrat vote. The only way to do that is to demonstrate you’re ignorant of math. NOT that Republicans have any calculators themselves, mind you, just that the Democratic Party Platform has innumeracy as one of their core planks and their base demands they honor it.

  4. Anyone remember how, when the Democrats in Congress proposed cutting the rate of growth in entitlement programs (nevermind actually cutting entitlement programs), Republicans accused them of wanting to starve poor people and old people?

    The Dems got the message.

    1. No because that never happened.

        1. I recall when Democrats resisted reducing the growth of entitlements in 2005

          “We’re seeing the Republicans cutting programs that help those who have too little, so that in a couple of weeks they can give huge tax breaks to people at the top,” says Sen. Patty Murray (D-WA).

          “Virtually all of these programs have seen massive increases over the past several years and it’s not unreasonable to slow the growth of spending,” said Rep. Jeff Flake (R-AZ).

        2. Here is another from 2011

          Democrats on Congress’ supercommittee secretly presented Republicans with a revised deficit-cutting proposal earlier this week that calls for a blend of $1 trillion in spending cuts and $1 trillion in higher tax revenue over the next decade, officials in both parties said Wednesday night, adding that compromise talks remain alive though troubled.

          The previously undisclosed offer scaled back an earlier Democratic demand for $1.3 trillion in higher taxes, a concession to Republicans. At the same time it jettisoned a plan to slow the growth in future cost-of-living increases in Social Security benefits, a provision liberal Democrats oppose.

          1. `I’ve made $66,000 so far this year w0rking 0nline and I’m a full time student.oiu. I’m using an 0nline business opportunity I heard about and I’ve made such great m0ney.KJl It’s really user friendly and I’m just so happy that I found out about it.

            Here………> Click here

    2. I remember that happening but with the parties reversed. I do not remember congressional Democrats ever being castigated for proposing cuts to the rate of growth of entitlements. But please correct us if we’re wrong. When do you remember that happening?

  5. ●▬▬▬▬PART TIME JOBS▬▬▬▬▬●

    I am making $165 an hour working from home. i was greatly surprised at the same time as my neighbour advised me she changed into averaging $ninety five however I see the way it works now. I experience masses freedom now that i’m my non-public boss. that is what I do……
    ↓↓↓↓COPY THIS SITE↓↓↓↓
    cc
    HERE► Click here For Full Details

  6. This is Really Good oputunity for everyone who wana make a big amount at home own laptop And make your family happy so can u do Click here and go to link for more detail══════►►►Go to link.

  7. John Stossel’s point is good but it is also theoretical because Joe Biden is not in a position to move his agenda forward at this time. What President Biden does will likely be different and far less dramatic then promised. Presidential candidates often promise big. In 2016, Hillary Clinton promised little other than continued progress forward. Candidate Trump promised a wall that Mexico would pay for and health care for all at a cheaper price. The big promiser won. This goes back many elections promising big does you no harm.

Please to post comments

Comments are closed.