Infrastructure investment is great when it's paid for. This bipartisan infrastructure package's pay-fors are either completely phony or don't quite cut the mustard. Thread:
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8. CLAIM: $3 billion in savings from reducing Medicare spending on discarded medications FACT: $2.8 billion is estimate of Medicare drugs thrown away every year due to single use vials. Setting aside concerns about safety, this dollar amount will certainly not reach $3 billion.
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9. CLAIM: $2.9 billion interest rate smoothing options for defined benefit pension plans FACT: Interest rate smoothing is a creative accounting gimmick that rears its head in Washington every few years. It was a gimmick then, it's a gimmick now.
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This $550 billion of spending is on top of the baseline which already isn't paid for. The Highway Reauthorization has a $100B deficit. Real pay-fors in this bill (future spectrum auctions, Bitcoin tax, GSE fees, and a Superfund tax) should be used to cover that shortfall.
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Even if these rosy CBO estimates are accurate, that still leaves us a day late and several hundred billion dollars short. The bipartisan infrastructure bill is NOT paid for.
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True Fact: Sen Braun has no idea how fiat currency works. He is still living in the Gold Standard. True Fact: It doesn't have to be "paid for" when are an exclusive sovereign currency issuer
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This requires more oversite and regulation. Good news! More jobs!
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kid, that's not a sentence.
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Het laden lijkt wat langer te duren.
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