Biden’s $3.5 trillion spending plan will leave Americans poorer in the long run

Eric Boehm  |  September 15, 2021

By Eric Boehm, includes “Biden's plan to hike federal spending by about $3.5 trillion over the next 10 years—paid for with a combination of huge tax increases and up to $1.75 trillion in new borrowing—will decrease future economic growth and reduce private wealth, according to a new analysis from the Penn Wharton Budget Model (PWBM) … the PWBM report suggests that Biden's massive spending package would hurt taxpayers, investors, workers, and future generations already facing the prospect of lowered standards of living caused by America's impossibly huge pile of debt.”

Read the full article on: Reason

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