House Speaker Nancy Pelosi of Calif. reacts as she listens to a question from a reporter during her weekly press briefing on Capitol Hill, Thursday, Sept. 30, 2021, in Washington. (AP Photo/Andrew Harnik)
UPDATED 9:06 AM PT – Thursday, September 30, 2021
Speaker of the House Nancy Pelosi (D-Calif.) has become the latest Democrat to say Joe Biden’s $3.5 trillion spending plan will cost “zero dollars.” She told reporters Wednesday that the massive spending proposal will not cost tax payers anything.
According to the Congressional Budget Office, the bill would add over $250 billion to deficits over the next 10 years. Despite these findings, Pelosi and other Democrats continue to say Biden’s proposal is paid for.
“It’s not about a dollar amount. The dollar amount, as the President has said, is zero. This bill will be paid for. It’s about what are the values that we share and how we prioritize them. And that is the place we will go.”
— Nancy Pelosi – Speaker of the House
Meanwhile, moderate Democrats in the Senate like Joe Manchin (D-W.Va.) and Krysten Sinema (D-Ariz.) are still standing in the way of the proposal. Specifically, Manchin asserted that spending trillions more will, in turn, cause American families to face continued inflation.
“What I have made clear to the President and democratic leaders is that spending trillions more on new and expanded government programs when we can’t even pay for sessional social programs, like Social Security and Medicare, is the definition of fiscal insanity,” stated the West Virginia lawmaker.
Democrats are hoping to hash out the final details of their reconciliation package and bring moderate members of their caucus on board. In the meantime, negotiations are expected to get more intense.