Wharton analyzes spending bill. Oh, boy.
11-07-2021, 12:59 PM
I am sure 3rdgensooner will tell them how stupid they are and they need to shut up listen to him.
https://fee.org/articles/ivy-league-anal...ing-plans/
Analysts at the Wharton School of Business reviewed President Bidenâ€s latest $1.85 trillion framework proposal and ran the numbers to project its likely economic impacts, under two distinct scenarios. One is the rather unrealistic scenario where it actually only costs $1.85 trillion. Yet because the proposal is structured with many budget gimmicks and short-term spending authorizations that would likely be reauthorized if implemented, its real cost could be as much as $4.25 trillion. Wharton also modeled the likely impact of this scenario.
https://fee.org/articles/ivy-league-anal...ing-plans/
Analysts at the Wharton School of Business reviewed President Bidenâ€s latest $1.85 trillion framework proposal and ran the numbers to project its likely economic impacts, under two distinct scenarios. One is the rather unrealistic scenario where it actually only costs $1.85 trillion. Yet because the proposal is structured with many budget gimmicks and short-term spending authorizations that would likely be reauthorized if implemented, its real cost could be as much as $4.25 trillion. Wharton also modeled the likely impact of this scenario.
In the first case, where the presidentâ€s plans cost only what he claims, the analysis still finds his promises falling short on nearly all counts. The tax increases included would not, in fact, pay for the entire proposal, and it would lead to a 2 percent increase in government debt over the long run. (That might sound small, but itâ€s hundreds of billions of taxpayer dollars!) And, while Wharton projects that wages would increase slightly, it finds that the overall economy would shrink, not grow, while business investment and hours worked would decline.
Erm… howâ€s that revitalizing America? And those dismal results are under Bidenâ€s rosy assumptions. Under the more realistic scenario where spending provisions are accurately accounted for and the real cost is north of $4 trillion, the investmentâ€s return is even more spectacularly awful.
