Manchin may delay Biden social spending plan over inflation
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Source: Axios
Red-hot inflation data validates the instinct of Sen. Joe Manchin (D-W.Va.) to punt President Bidens Build Back Better agenda until next year potentially killing a quick deal on the $1.75 trillion package, people familiar with the matter tell Axios.
Why it matters: The data released Wednesday set the president and White House staff scrambling. Slowing down work on the massive tax-and-spending plan is against the fervent desire of the administration and House progressives.
With a limited number of legislative days left in the year, Manchin is content to focus on the issues that need to be addressed, Axios is told. They include funding the government, raising the debt ceiling and passing the National Defense Authorization Act.
Manchin, like a group of House moderates, also wants to see a Congressional Budget Office analysis of the true cost of each of Bidens proposed programs, as well as the tax proposals to fund them.
Read more: https://www.axios.com/manchin-chill-bbb-6b58cd70-6c07-40f9-af4e-c944a7b3a39d.html
JohnSJ
(98,883 posts)is because of the mismanagement of the pandemic by trump and associates, the trade wars, etc., which contributed to inflation by artificially causes shortages
ColinC
(11,098 posts)I expect him to follow through with not voting for it.
ColinC
(11,098 posts)If we have more seats the next congress, then i would feel that prospect more promising.
...won't be a 'next congress'...
...without a significant Social Climate BBB bill, the people's bill, many just won't show up...
...the pukes will be energized, our people will have totally given up and don't forget, given a little time and plenty of money trump and his pukes have known to turn average distraught Americans into voting idiots...
...it's now or never...
ColinC
(11,098 posts)I'm resigned to that idea and really really hope I'm wrong.
Fiendish Thingy
(23,219 posts)Crashing the world economy would inflict pain on Manchin and his donors.
Either block the debt ceiling, or include in the BBB so that the bill must pass in order to save the economy.
JohnSJ
(98,883 posts)ColinC
(11,098 posts)Not because they are moral.
Fiendish Thingy
(23,219 posts)So its a fair trade off IMO.
Bettie
(19,702 posts)He wanted the BIF. He got that, so now he says "fuck you" to the people who need the BBB. They don't matter to him.
Dopers_Greed
(2,647 posts)Considering that the BBB plan would help the average American with the inflation problem...
iluvtennis
(21,497 posts)to President Biden that he supported the BBB social spending program framework.
And now hes going back on his word. Rep Jayapal and the progressives must be feeling really used:
Im sending out positive vibes that this story isnt true.
Rebl2
(17,738 posts)Why is nobody talking about the drop in the deficit? Is it no big deal? Seems like it should be!
turbinetree
(27,545 posts)to the average person in this country ......my tax rate will go up after 2005....and this &^%$#()@?: is worried about what ......hell the tax cut isn't paid for.....
DallasNE
(8,007 posts)Why hasn;t it already been perofrmed.
Manchin should know better that to raise the false flag on inflation. If he really wants to know where inflation is headed once we ar past the supply chain issues behind. The best measure of that is interest rates - one of the leading indicators on the economy. Indeed, this is a Republican talking point so it is unreliable to begin with.
Deminpenn
(17,504 posts)bonds as a safe investment that would provide them interest income. The run of extremely low inflation has made the yield from those investments miniscule. It has also limited COLAs in social security and pensions like CSRS. There were several years where there was no COLA at all because inflation was non-existant. Inflation helps income catch up with prices. Even the Fed has a target yearly inflation of 2-3%.
The recent inflation was to be expected as the world economies were artificially shut down during the pandemic. The rebound was always going to be strong from pent up demand and businesses having to re-open and gear up production rapidly. Inflation was always going to be temporary as well, but a year or two of 5-6% isn't the end of the world.
WHITT
(2,868 posts)He said the BBB was too expensive, but the cost is $0. He claims he's worried about the federal debt, but the BBB pays down debt. He claims he's worried about inflation, but the BBB is not inflationary, as it's paid for, unlike his BIF, which will add hundreds of billions to the federal debt. He claims he's concerned the BBB would create an "entitlement society", but he's driving a Maserati and living on a giant yacht.
monkeyman1
(5,109 posts)THIS BUZZARD BAIT GUY NEED'S TO DO HIS HOME WORK & START HELPING PEOPLE AND DO HIS DAMN JOB ! HE IS OF NO USE TO THE U.S. PEOPLE & JUST A ANOTHER -ME-ME-ME - TFG ! 2 people can f%#k -up a whole country , wtf !
left-of-center2012
(34,195 posts)Lucy pulling the football away from Charlie Brown.
Omaha Steve
(109,221 posts)Analysis of what may happen is not LBN.
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