we ve already spent $2 trillion with the mark to stimulus. it leapt out in budget would add $5 trillion in spending on top of that over ten years, and then there s another $5 trillion in new proposals that are going to be coming from the biden campaign and fake expirations. he put that together, you get $12 trillion of spending over ten years. to put that in context, that s eight times bigger than the cost of the 2017 tax cuts that we were told we can t afford. another way of throwing a big number out at you, before the pandemict the national debt was just under $17 trillion. if you assumed the entire biden agenda is enacted and the new proposals, come of the debt goes from $17 trillion before the pandemic to $44 trillion at the end of ten years. this dwarfs anything we saw, not only from republican presidents but even from obama and clinton.
and my third big proposal, a federal jobs guarantee. this might seem pain compared to this might seem tame compared to the other things we just talked about but this is an incredibly dangerous proposal. not only is it going to be very expensive, $4 trillion to $44 trillion according to the american action form over a 10-year period, depending on how many people put into it. but in addition, it s going to indirectly give the federal government power over the entire layer of market, because if they are often people a living wage, anyone, living wage, which could be $15, could be $20, could be $25 an hour, it means whatever the democratic partyhe decides,f you are offering that, then how is a small business or a medium-size business supposed to compete with the federal government?iv you re going to have a million people leaving their jobs in the private sector to go work for the federal government. and earn $20 an hour and free health care and free paid family leave and all sorts of other
so yes, this is a crazy proposal from the left. and my third big proposal, a federal jobs guarantee. this might seem pain compared to the other things we just talked about but this is an incredibly dangerous proposal. not only is he going to be very expensive, 4 trillion to $44 trillion according to the american action forum over a ten-year period, into putting on how many people are in it. but in addition, it s going to indirectly give the federal government power over the entire labor market because if they are offering people a living wage, anyone, living wage, which could be $15, could between dollars, could be $25 an hour, it means whatever means the democratic party candidates, if you are offering that, then how is a small business or a medium-size business supposed to compete with the federal government? you re going to have a million people leaving their jobs in the private sector to go work for the federal government. it and earn $20 an hour and free health care and free paid
i politely disagree. we took the green new deal seriously as a policy proposal and do what we do with any policy proposal. we looked at the specific projects they had included in the green new deal. whether a transportation system. electricity grid powered by renewables, guaranteed jobs that include paid family leave, retirement benefits, health benefits, paid vacations. a variety of things that you could then go to the data and ask how much would this cost? and it turns out those are some fairly large numbers to receive the least. neil: for the low carbon electricity grid 5.4 trillion. transportation system without the jets and all up to 2.73 and guaranteed jobs, i don t know how that works out. it is a wide range from 7 to 44 trillion. you can see a little bit what senator markey is getting there.
than 3% growth that s an additional $44 trillion for the federal revenue, spending is the problem. maria: congressman good to see you thanks so much. mr. chairman we ll be right back ok everyone! our mission is to provide complete, balanced nutrition. for strength and energy! whoo-hoo! great-tasting ensure. with nine grams of protein and twenty-six vitamins and minerals. ensure. now up to 30 grams of protein for strength and energy! there s also a lot to know. the most important thing? medicare doesn t pay for everything.