Extending these programs without adding to the national debt would likely require raising taxes by an additional $3 trillion over the next decade, which would be extremely difficult to do, particularly after Democrats incorporate all of the tax increases they could get consensus for into the Build Back Better Act. If Democrats cannot agree on how to continue paying for their major social programs, the only alternative — besides breaking their promise not to add to the deficit — would be to allow those programs to expire after a few short years.
Not only would this scenario deny new families tens of thousands of dollars in benefits they would have gotten if they had had children only a few years earlier, many families may never receive these benefits in the first place. Many programs in the Build Back Better Act require state and local governments to implement them, and local officials in both parties have already said they may not commit resources to programs for which federal support may vanish just a couple years after being created.
Unlike those on the left now unleashing their righteous wrath on Mr. Manchin, I have long sympathized with his objections to this approach, as well as his concerns about inflation and the unsustainable growth of our national debt.
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