Varney on ‘Nonsense’ Build Back Better: ‘Most Dishonest Spending Bill in American History’
EARTHGART: "You were the expert on this. How much is this going to cost our country?"
VARNEY: "Okay. They say it’s going to add $367 billion to the deficit. Nonsense. This is financial sleight of hand. There is a great deal of trickery involved in Build Back Better. Let me try to explain to you. Take for example, the child care allowance, cost $130 billion a year, that is scheduled to expire after one year. So it’s costed at 130 billion. That’s not the cost of it. It will never be repealed. Which politician is going is a-to-say no, no, no, you parents can’t have that money any longer. You can’t repeal it, it’s going to be there forever. The true cost that that one program is not 130 billion. It’s 1.3 trillion costed out 30 years. The same is true with Obama subsidies, the earned income tax credit. They are all going to phase out after one year. Not true. They will go on for 10 years and longer which will cost ... eventually, the total cost of Build Back Better is more like $5 trillion not $2 trillion. That is outrageous. The Wall Street Journal says this is the most dishonest bill in American history."