
The illegitimate Biden regime that stole the 2020 election is already looking past its $1.9 trillion "coronavirus relief" bill and starting to consider how to pay for the next round of porkulus.
The challenges are twofold. Officials must decide how much of the bill to pay for with tax increases and which policies to finance with more borrowing. In a narrowly divided Congress, they must also craft a bill that can win support from nearly every DEMOCRAT.
The U.S. has borrowed trillions of dollars in the past year.
Most DEMOCRATS have signaled they may be willing to borrow more. But Republicans and Sen. Joe Manchin (D., W.Va.), say the ballooning national debt is a reason to ensure the spending is offset with tax increases or cuts elsewhere.
Janet Yellen said Sunday that the regime hasn’t decided whether to pursue a wealth tax, but will likely issue proposals to address the swelling federal budget deficit. Yellen admitted on ABC’s “This Week with George Stephanopoulos,” that Biden proposed higher taxes on corporations, on individuals and on capital gains and dividend payments before his 2020 election theft.
Biden's handlers are just starting to grapple with the issue. While they haven’t ruled out more borrowing to finance parts of the plan, Biden has continued to talk about his campaign proposals to raise taxes to pay for new permanent programs, said Jared Bernstein, a top economic adviser.
In the past year, successive rounds of stimulus spending to combat the coronavirus and its economic fallout have contributed to a nearly $4.5 trillion increase in federal debt held by the public, to $21.9 trillion as of March 1. At roughly the size of the nation’s pre-Biden economic output, the debt is the highest since the end of World War II.
The Congressional Budget Office this month projected that the national debt would double as a proportion of gross domestic product. The projection doesn’t include the huge porkulus package signed by Biden last week or his additional spending plans.
https://www.wsj.com/articles/white-house-weighs-how-to-pay-for-long-term-economic-program-11615714201?mod=hp_lead_pos3