Biden’s social-welfare bill could cost over $4 trillion, budget hawks warn


us debt worthy christian news(Worthy News) – Two leading fiscal watchdogs are raising alarms about the true cost of President Biden’s social welfare and climate change bill, arguing the total price tag is far higher than the $1.75 trillion that Democrats have estimated.

A new budget model released by the University of Pennsylvania’s Wharton School of Business on Thursday projected the real cost of the spending package could be more than $4.26 trillion. Economists reached the figure by extending all of the programs proposed within the bill over the next 10 years.

“By 2050, the proposal would increase [the] federal debt by 2.0 percent and decrease GDP by 0.1 percent, relative to the current law,” the economists wrote. [ Source: Washington Times (Read More…) ]

19
people are currently praying.

Worthy News reports from a biblical worldview with a commitment to accuracy, transparency, and editorial independence. Learn more about About Worthy News, our Editorial Standards, AI Use Policy, Ownership of Worthy News, News Tips and Corrections, and Worthy News Staff.

💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.

📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌

Discuss this article in our forums

Latest Worthy News

Trump Warns of ‘Shocking’ Election Vulnerabilities, Says China Obtained Data on 220 Million U.S. Voters
Trump Administration Designates Juárez Cartel, Los Viagras as Foreign Terrorist Organizations
US Approves Nearly $2 Billion Arms Sale to Saudi Arabia as Middle East War Escalates
Democrats Shift Away From Israel as Majority Back Aid Cut
Syria Seizes Advanced Missiles and Drones Bound for Hezbollah
Israel, Lebanon Report Progress in Rome Talks on Hezbollah-Free Pilot Zones
Ukraine Cabinet Shakeup Sparks Rare Wartime Protests
Deadly Fire Kills Children At Algerian Welfare Home Amid Heatwave
U.S. Strikes Iran for Fifth Straight Day as Tehran Attacks American Bases Across Gulf
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News