Call the Bank: Biden’s Coronavirus Relief Bill Will Cost Hundreds of Billions More
The CBO reported Friday that the law will reach a price of $2.1 trillion due to interest costs, an estimate that was released after a request came in from Sen. Lindsey Graham (R-S.C.)
President Joe Biden’s $1.9 trillion coronavirus rescue package passed in March will end up with a larger price tag over the next ten years, according to the nonpartisan Congressional Budget Office (CBO).
The CBO reported Friday that the law will reach a price of $2.1 trillion due to interest costs, an estimate that was released after a request came in from Sen. Lindsey Graham (R-S.C.), the ranking member of the Senate Budget Committee. The office also said that the debt burden held by the public will be as much as 113 percent of gross domestic product (GDP) by 2031.
Get our free mobile app Inflation is actually roaring back, Senator Barrasso stated. The price hikes are such that it s the largest since 2008.And it s hitting people in their wallets when they buy gas, when they buy groceries, you name it. Gas prices are now over $3 a gallon. The last time we had that in the United States was seven years ago.
Barrasso said that the current state of the economy is due to the Biden Administration and the policies it has presented. When you take a look at the Biden Administration and their deliberate policies of attacking American energy, there s no surprise that energy prices are up, he said. This is predictable and it would have been preventable.