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Hey Nancy Pelosi, Here Are 4 Easy Things to Cut From the $3.5 Trillion Spending Plan

If Speaker Pelosi can’t find anything in a $3.5 trillion bill to cut, she’s just not looking very hard.

by Brad Polumbo
October 7, 2021
in Opinions
Hey Nancy Pelosi, Here Are 4 Easy Things to Cut From the $3.5 Trillion Spending Plan

Congress is squabbling over how many trillions of taxpayer dollars to waste. Some progressive lawmakers want a $3.5 trillion—$24,400 per federal taxpayer—spending package, while the more “moderate” faction only wants $1-2 trillion. (Only in Washington, DC are the “moderates” the ones who want to spend $2 trillion!) In a recent defense of the full $3.5 trillion spending proposal, Speaker of the House Nancy Pelosi defiantly asked what parts of the bonanza could possibly be trimmed.

“It’s not about a price tag or anything,” Pelosi said. “It’s about values, not dollars. And we come to agreements on what people are for or what they would cut if they want to do less. What would you cut?”

.@SpeakerPelosi: "This is not about price tag. This is about what's in the bill… it's not about a price tag or anything. It's about values, not dollars." https://t.co/rEIWtxoeOK pic.twitter.com/OKXSrY8K8Q

— The Hill (@thehill) September 23, 2021

1. Funding for “Free” Community College

The draft proposal includes more than $100 billion in taxpayer money to fund two years of tuition-free community college for Americans. Yet community college—in stark contrast to 4-year colleges—is actually quite affordable for people to pay their own way. Under the status quo, existing grants and financial aid cover most expenses for many community college students and tuition rates are more than low enough for part-time workers to cover the costs themselves.

The real problems facing community colleges are low graduation rates and poor academic outcomes. Eliminating students’ financial “skin in the game” will inevitably worsen these problems. The “free” community college plan is a terrible idea and throws away $100 billion in taxpayer money, making it an easy initiative to cut.

Prepper Organics 2

2. Massive Subsidies for Electric Vehicles & ‘Green’ Energy Companies

The proposal includes a large expansion of existing subsidies for purchasing electric vehicles. Ostensibly meant to combat climate change, these subsidies would overwhelmingly flow to rich Americans.

After all, a vast majority of existing subsidies for electric vehicles flow to the affluent. And the proposed expansion wouldn’t actually make a significant dent in carbon emissions. According to the Cato Institute, all US passenger vehicles are responsible for just 2.4 percent of carbon emissions. Even abolishing all these emissions—which this subsidy regime wouldn’t come close to doing—would hardly make a difference in global climate change.

The enormous “green” energy subsidies in this legislation could easily be done away with, saving taxpayers tens of billions to hundreds of billions with no meaningful benefits lost out on.

3. Expanded Obamacare Subsidies for the Wealthy

This plan includes billions to make an expansion of Obamacare subsidies passed during COVID-19 permanent—with no income cut-offs. According to the Wall Street Journal, “A family of five with a 60-year-old head of household in Prescott, Ariz., for instance, could earn $350,000 a year and still qualify for an ObamaCare subsidy of $21,309. Even at $500,000 of income, that family would still get $8,559 in federal healthcare dollars.”

Massive amounts of taxpayer money could be saved by stripping healthcare subsidies for the rich from this bloated package.

 4. Enormous Expansion of Medicare

The plan includes an expansion of Medicare, the government healthcare program for senior citizens, to include dental, hearing, and vision coverage. This is a mind-boggling prospect, seeing as Medicare is already set to hit insolvency in just 5 years. Moreover, many of the people that would receive this coverage are more than capable of paying for their supplemental healthcare themselves. Congress could scrap this from its plans entirely and avoid funneling billions more in taxpayer money into the black hole of healthcare entitlements.

Just the Tip of the Iceberg

These are just a handful of examples of costly spending programs that can and should easily be eliminated from Congress’s spending proposal. The truth is, most of what’s in the bill is similarly wasteful and unnecessary. So, if Speaker Pelosi can’t find anything in a $3.5 trillion bill to cut, she’s just not looking very hard.

Let People Make Their Own Judgements on ‘Values’

Moreover, Pelosi is wrong to suggest that “dollars” and “values” can be separate—they can’t. Resources are limited and trade-offs are inescapable. Spending a dollar on one thing instead of another means valuing one thing over another. So, every dollar the government spends is an imposition of its values over the values of the American people, because it’s one less dollar in private citizens’ pockets to spend as they see fit.

The best way to ensure that $3.5 trillion is spent in alignment with the public’s values is not to filter it through the value judgments of Nancy Pelosi and her colleagues in Congress. It’s to let people spend it themselves in a free market and let their choices reflect their true values, not what politicians presume them to be.

Brad Polumbo

Brad Polumbo

Brad Polumbo (@Brad_Polumbo) is a libertarian-conservative journalist and Policy Correspondent at the Foundation for Economic Education.

This article was originally published on FEE.org. Read the original article.

Custom Image by FEE | Image Credit: Gage Skidmore via Flickr, CC BY-SA 2.0.



They’re Trying to Shut Us Down

Over the last several months, I’ve lost count of how many times the powers-that-be have tried to shut us down. They’ve sent hackers at us, forcing us to take extreme measures on web security. They sent attorneys after us, but thankfully we’re not easily intimidated by baseless accusations or threats. They’ve even gone so far as to make physical threats. Those can actually be a bit worrisome but Remington has me covered.

For us to continue to deliver the truth that Americans need to read and hear, we ask you, our amazing audience, for financial assistance. We just launched a GiveSendGo page to help us pay the bills. It’s brand new so don’t be discouraged by the lack of donations there. It’s a funny reality that the fewer the donations that have been made, the less likely people are willing to donate to it. One would think this is counterintuitive, but sometimes people are skeptical because they think that perhaps there’s a reason others haven’t been donating. In our situation, we’re just getting started so please don’t be shy if you have the means to help.

Thank you and God bless!

JD Rucker

Prepper Organics 3


All ORIGINAL content on this site is © 2021 NOQ Report. All REPUBLISHED content has received direct or implied permission for reproduction.

With that said, our content may be reproduced and distributed as long as it has a link to the original source and the author is credited prominently. We don’t mind you using our content as long as you help out by giving us credit with a prominent link. If you feel like giving us a tip for the content, we will not object!

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@jdrucker


 

Tags: CongressEconomyFEELedeLegislationNancy PelosiSpending PackageTop Story

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