ICYMI: Club for Growth President David McIntosh, “Biden Budget Must Be Measured in Human Suffering”
In case you missed it, Club for Growth President David McIntosh penned an op-ed in Newsweek, arguing that the true cost of Biden’s multi-trillion budget must be measured in human suffering.
“By the numbers, the $3.5 trillion Biden budget is dizzying. If each dollar were instead one minute in time, the total amount would be more than 665,000 years—that’s more than three times as long as homo sapiens has been on this planet. If that weren’t staggering enough, the president’s budget places a nearly $70 trillion burden on the shoulders of American taxpayers over the next decade. If dollars were exchanged for miles, that would take one to Tau Ceti, an Earth-like planet 12 light years away.
But the most appropriate way to measure the Biden plan is in terms of the human suffering it would produce.
Nearly $5.5 trillion would be diverted from the private sector to new government spending over the next 10 years, according to one analysis. Americans would be obliged to pay for all of this spending through higher tax rates on their work, savings and investments.
The drag on the U.S. economy could mean a $3 trillion loss in economic output over the next decade, during which time workers’ paychecks would drop $1.6 trillion. Try to picture how hard a $10,000 pay cut would hit an employee—then imagine that average slashed from every American worker’s yearly income. Young workers could look forward to being robbed of 4 percent of their lifetime living standards.”