Report: Democrats Are Giving Away $1 Trillion In Taxpayer Funds For ‘Green’ Hoax Subsidies

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The Democrats are raping, pillaging and routing America – us -using bigger and bolder lies than the emperor’s new clothes.

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Report: Democrats Are Giving Away $1 Trillion In Taxpayer Funds For ‘Green’ Subsidies

By: Christopher Jacobs, The Federalist, February 08, 2024

During his time in the Obama administration, then-Vice President Biden once infamously proclaimed that we had to “spend money to keep from going bankrupt.” When he became president, he kept his word — at least when it comes to spending.

In an appearance before lawmakers last week, Congressional Budget Office (CBO) Director Phillip Swagel testified that the cost of the green pork provisions included in Democrats’ 2022 Inflation (Reduction) Act is likely to total $1 trillion. Unsurprisingly, the Biden administration figured out even more ways to spend money beyond what Congress, and the CBO, originally projected 18 months ago.
Preview of Fiscal Outlook

Swagel’s testimony largely focused on the accuracy of CBO’s budget projections — i.e., did fiscal conditions in prior years turn out as the budget gnomes forecast? But at the end of his prepared remarks, he turned to the upcoming release of the budget and fiscal baseline. How does CBO project the nation’s fiscal status in the coming decade?

In previewing that document, Swagel included a big admission: “We are now projecting that several developments affecting energy-related tax provisions, many of which were part of the 2022 reconciliation act [i.e., the Inflation (Reduction) Act], will add about $400 billion to the deficit over the 2024-2033 period.”

CBO and the Joint Committee on Taxation (JCT) had previously estimated that those provisions would cost approximately $570 billion over a decade — approximately $17 billion in outlay effects, representing spending for people and entities who have no income tax liability, and $553 billion in reduced revenues. Including an additional $400 billion in deficit spending would bring the total of these “green pork” provisions to $970 billion, or just under the $1 trillion mark.

Unilateral Spending

When it comes to this new estimate, three elements are worth emphasizing. First, to the extent that the original $570 billion in spending was paid for, it came from 1) raiding the Medicare program and 2) creating an army of new IRS employees to harass Americans into coughing up more tax dollars. Now CBO admits that even these onerous provisions will not be enough to pay for all the new green subsidies Democrats included in their law.

Second, note CBO’s explanation for the increase in its projections on these subsidies:

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Eric Arthur Blair
Eric Arthur Blair
2 months ago

Carbon neutrality is sheer insanity as all life is made of carbon. To get carbon neutrality you would have to eradicate all life on Earth.

The entire thing is the fever dream of a psychopath.

Dr. Freud believed that people who want to save the planet suffer from a mental disorder.

LaddyboyD
Laddyboy
2 months ago

FYI — Climate Change Is Real. There Is a change in Climate daily. There is about a 30 degree change daily. There are NORMAL Seasonal changes. There are Centry weather Changes. There are MELENNIAL Changes in Weather through time. The Earth’s “PLATES” keep moving. Even the “NORTH” has Changed it Position over the years! To these CLIMATE EXTREMISTS — BLAAAH, BLAAAH, BLAAAH. The sky is falling, the sky is falling!!!

Staff Sgt
Staff Sgt
2 months ago
Reply to  Laddyboy

lol lol lo right right……ahhhhhhhhh we all gonna die. Climate Change (scam)……VOMIT!!!!!!!!!!!!

Stephen Honig
Stephen Honig
2 months ago

This is why DemoRats and RINOS don’t like Trump; because they can’t make a buck especially when they give contracts with kickbacks and donations.

Jerome from Layton
Jerome from Layton
2 months ago

Anybody notice all those volcanic eruptions? That’s CO2 being gushed into the air. However, SO3 is coming along for the ride so its a wash since sulfates are potent cooling gasses.

David Foot
David Foot
2 months ago

It is going to get worse. The Sun is getting hotter and there is nothing that we can do about it except go underground or find a way of reflecting the energy of the Sun. We hope it is going to peak this year, we expect flares coming our way, huge solar storm (Sun spot) is placing itself opposite to the Earth, could be huge flares.
The Marxists are using all this to attack the West by blaming us for the warming. They will increase their blame publicity when the heat increases even further to try and get the West to go in to “degrowth”, they seek to destroy the West, by attacking farmers they seek to create food insecurity and ideally their third big genocide, sort of kill all the cattle etc. eat insects, planting crops is too much wasted energy etc all lies, it is the Sun which puts on Earth in one hour the same order of energy mankind puts together in a whole year: quintillions of joules. If the sun is getting hotter there is NOTHING that can be done on Earth about it.

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Thanks for sharing!