President Biden, Senate Majority Leader Schumer, House Speaker Pelosi, along with their respective Democratic House and Senate caucus members claim that both the $1.2 trillion Infrastructure and $1.75 trillion Build Back America bills are fully paid for. The nonpartisan Congressional Budget Office found that the first bill would add $228 billion and the second bill $367 billion to our $29 trillion and growing national debt over the next 10 years.
If they are so confident of this financing scheme, let them all put up their respective future pensions, 401Ks, stocks, bonds, jewelry, automobiles, mortgaged homes and property assets and Social Security as collateral. Place all of these assets in a blind trust on behalf of taxpayers. This can serve as a small down payment to cover the inevitable multibillion-dollar shortfall in anticipated revenues to pay for both bills over coming years. Ask their spouses or significant others to do the same.
Biden, Schumer, Pelosi and company remind me of J. Wellington Wimpy, who famously said “I’ll gladly pay you Tuesday for a hamburger today.” Tuesday may never come for taxpayers who have to pay for all the goodies promised by them within their lifetime.
Larry Penner
Great Neck
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