Of course President Biden’s plans are going to cost future generations. For one, the tax increases needed to pay for them are now tax increases that can’t be used to pay down the deficit. Not that we need tax increases instead of spending cuts.
But what’s more, these programs always go on longer than they are supposed to, and always cost more than expected. Or at better, more than advertised.
From the transcript of Wednesday’s White House briefing:
Q Does the President still believe that Build Back Better will not add a dime to the national debt?
MS. PSAKI: Correct. It won’t.
Q Why would he — why should Americans believe that?
MS. PSAKI: Because it won’t.
Q What if taxes that — he says he wants to get more taxes in — what if it doesn’t happen? What if the economy goes sour? Lots of things could happen. What do you — you’re going to tell, from up there, future generations — not even born yet — that they’re not on the hook for this? Is that right?
MS. PSAKI: That’s right. And hopefully, you’ll report accurate information yourself. Go ahead.
Q I will do that.