Tea Party Patriots Action Slams Deficit-Reduction Gimmick in Manchin-Schumer Deal
Atlanta, GA – Two days after the release of the Manchin-Schumer reckless tax-and-spend plan, the economists at the Penn Wharton Budget Model released their analysis of the plan, showing that its so-called “deficit reduction” is negligible. In response, Tea PartyPatriots Action Honorary Chairman Jenny Beth Martin released the following statement:
“Joe Manchin’s favorite economists have shown that his plan’s so-called ‘deficit reduction’ is virtually nonexistent. According to the Penn Wharton Budget Model analysis, the ‘deficit reduction’ is $248 billion over ten years, not $300 billion. And that’s only if you don’t do the real analysis, and count the cost of the expanded ObamaCare subsidies for the full ten years, rather than only counting the front-end-loaded three years included in this plan. If you do the proper calculation for the full ten years, the ten-year deficit reduction shrinks to just $89 billion — less than a third of the advertised savings — a virtually nonexistent amount in a multi-trillion dollar budget.
“This should surprise no one. This is what Democrats did with the initial rollout of ObamaCare more than a decade ago — they launched the benefits at the front end, and delayed the costs until after the next presidential election. It is an irresponsible method of governing, and it should be defeated now as it should have been defeated then.”
“The growth would be even more historic if we cut taxes AND cut spending at the same time. It takes enormous courage to do either one of these, much less both at the same time. Either one or both will end the cycle.”