No, Biden's $3.5 Trillion Spending Plan Does Not Cost "0"

Economists are attuned to our terms being bastardised by politicians. In the mouths of presidents and Congress, “investment” is widely used as a synonym for “spending.” “Infrastructure” today seemingly means any social policy Democrats think is worthy. A carbon tax was recently dubbed by White House spokeswoman Jen Psaki as a “corporate polluter fee.” And in the most shameless dictionary land‐​grab of all, President Biden, Nancy Pelosi, Ron Klain, and Psaki have repeatedly tried to redefine what we understand by the “cost” of the reconciliation bill—claiming that a $3.5 trillion bill actually costs “zero” dollars because it is fully “paid for” by tax increases. Read Full Article »