Manchin’s Deal Won’t Save the Democrats in the Midterms

Contact Your Elected Officials
Wall Street Journal Header

They’ll have to rely on unhinged Republican candidates to hold the Senate in November.

Hope springs eternal, especially among politicians facing an electoral wipeout. Democratic leaders and their media confederates quickly embraced the latest life-preserver: the recent deal between Senate Majority Leader Chuck Schumer and Sen. Joe Manchin (D., W.Va.) to resurrect the Build Back Better Bill.

The two senators slimmed down the legislative monstrosity and restyled it the Inflation Reduction Act. That nonsense label is worthy of a P.T. Barnum ad campaign. The Penn Wharton Budget Model predicts that the bill’s impact on inflation will be “statistically indistinguishable from zero.”

It isn’t clear this slimmer bill can pass, but already the Washington Post has trumpeted the hodgepodge of climate provisions, a three-year extension of ObamaCare subsidies, and price controls on some drugs provided through Medicare as having “the potential to change the narrative” of Joe Biden’s presidency.

Mr. Biden needs all the help he can get: His 38% approval rating in a late July Gallup Poll is down from the 40% average in the sixth quarter of his presidency, itself the lowest figure for any president since Gallup began routinely measuring in the 1950s.

So Democrats are pumping this latest Build Back Better incarnation big time, hoping it’ll be the life raft they need. A White House spokesman says it shows “Democrats have a plan to lower costs for middle class families.” Retiring Illinois Rep. Cheri Bustos claims it gives her party “the Big MO,” while Virginia Rep. Abigail Spanberger proclaimed it will “change people’s lives.”

Such hyperbole won’t save Democrats; voters will see that the promises don’t match reality. Take California Rep. Mike Levin’s claim that the bill “will dramatically reduce costs for the average American that has to pay exorbitant prices for prescription drugs.” These price controls would apply only to expensive drugs with no generic competition offered through Medicare, starting with 10 such drugs in 2026. Consumers won’t feel any cost difference ahead of the midterms.

That’s a major problem for a bill claiming to ease the high prices fueling voter frustration. This $485 billion legislation won’t reduce inflation in the near term and could even make it slightly worse.

Like last year’s version of Build Back Better, the bill also has cost-hiding gimmicks. Take the ObamaCare subsidies that the American Rescue Plan extended for a year. The new bill would extend them for three more years, though Democrats almost certainly intend them to be permanent. This “temporary” extension allows Democrats to pretend this measure would cost only $65 billion, concealing the $155 billion the expansion would cost for the rest of the decade. Voters didn’t like this hocus-pocus when Democrats tried it last year, and now they’ve also seen what unnecessary spending does to inflation.

The bill is also likely to harm growth with its $470 billion in revenue increases via new taxation. As Republicans will surely note again and again, that’s the last thing Washington should be doing during a recession. And so much for Mr. Biden’s promise never to raise taxes on families making less than $400,000. Analysis from the Joint Tax Committee says taxes on families making less than $100,000 a year will rise by $5.8 billion in 2023 and taxes on those making less than $500,000 a year will jump by $30.8 billion.

By Karl Rove

Read Full Article on WSJ.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Congress doesn’t Care What the Average Person Thinks

In researching voting rights issues, a study provides a foundation for the statement “government officials don’t care what people like them think.”

Domestic Terrorists Rain Adult Toys on WNBA Courts in Multiple Aerial Assaults

In what might be described as the worst terrorist attack on American soil since 9/11, multiple WNBA courts have been pelted with brutal flying missiles.

Democrats Are In Disastrous Shape As Midterms Loom

According to CNN's Harry Enten, “The Democratic brand is in the basement. It is total and complete garbage in the mind of the American public.”

A Primer on Conservatism

Conservatism is based on the maintenance and preservation of economic and governmental liberty of the individual citizen to choose what is best for their interests.

Woke Verses Folk Marketing Mayhem

For purposes of this article woke is about 10% of our population while folk is defined as the remaining 90% of our population. 

US Sanctions 5 Foreign Entities for Allegedly Aiding Iranian Military Drone Program

Treasury Dept sanctioned entities and individual based in Iran, China, Taiwan, and HK for aiding Iran’s military aircraft and drone company to procure tech.

Trump Orders Nuclear Submarines Moved After Former Russian President’s Comments

Trump confirmed he ordered two Nuclear Submarines to be positioned in appropriate regions, in case Putin's inflammatory statements are more than just that.

American Eagle Responds to Critics Over Ad With Sydney Sweeney

In a statement posted on American Eagle’s Instagram account on Friday, the retailer said the ad campaign “is and always was about the jeans.

What to Know About 7-OH, the Synthetic Opioid Derived From Kratom Facing an FDA Ban

Synthetic opioid derived from the kratom plant sold in gummies, tablets, and drink mixes is to be restricted due to concerns it has serious potential for abuse.

Trump Says Americans Could Get Dividends From Tariff Revenues

President Donald Trump suggested on Sunday that his administration could distribute dividends from tariff revenues to Americans with certain income levels.

Tariff Rates ‘Pretty Much Set,’ Says US Trade Representative

President Trump’s trade representative, Jamieson Greer, said that Americans should expect the administration’s tariff levels to remain where they are.

White House Officials Say Trump Had ‘Real Concerns’ With Top Labor Official Before Firing Her

White House officials said it was necessary to fire former Bureau of Labor Statistics head Erika McEntarfer following release of lower-than-expected jobs report.

Trump Admin Cancels $26 Million Funding for Baltimore-DC Maglev Train Project

The FRA will cancel two grants worth more than $26 million for the Baltimore-Washington Superconducting Magnetic Levitation (SCMAGLEV) project.
spot_img

Related Articles