Joe Biden was dealt a crushing blow by Senator Joe Manchin, Democrat of West Virginia.
Manchin refuses support for Biden’s $3.5 trillion spending spree.
Manchin stated that the bill was “definition of fiscal insanity” in a statement.
“At some point, all of us, regardless of party must ask the simple question – how much is enough?” Manchin stated.
According to The Wall Street Journal, Democrats are looking to pass the largest single spending bill ever created: $3.5 trillion.
“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 the essential social programs, like Social Security and Medicare, is the definition of fiscal insanity.”
“Suggesting that spending trillions more will not have an impact on inflation ignores the everyday reality that America’s families continue pay an unavoidable inflation tax,” Manchin continued.
Democrats also finalized their $2.9 trillion tax increase proposal. Newsmax reports that it’s the largest tax hike in history.
It’s certainly the largest tax increase in decades, which is meant to pay for the Democrats’ higher spending in their ‘reconciliation’ package. As history has proven over and over again, the Democrats’ proposal for taxes and spending will undoubtedly have a negative impact by discouraging Americans from working, saving, investing, and innovating.
“Proposing a historic expansion of social programs while ignoring the fact we are not in a recession and that millions of jobs remain open will only feed a dysfunction that could weaken our economic recovery. This is the shared reality we all now face, and it is this reality that must shape the future decisions that we, as elected leaders, must make.”
“Overall, the amount we spend now must be balanced with what we need and can afford – not designed to reengineer the social and economic fabric of this nation or vengefully tax for the sake of wishful spending,” Manchin continued to add.
“While I am hopeful that common ground can be found that would result in another historic investment in our nation, I cannot – and will not – support trillions in spending or an all or nothing approach that ignores the brutal fiscal reality our nation faces.”
Manchin concluded that, “If there is one final lesson that will continue to guide me in this difficult debate ahead, it is this: America is a great nation but great nations throughout history have been weakened by careless spending and bad policies.”
“Now, more than ever, we must work together to avoid these fatal mistakes so that we may fulfill our greatest responsibility as elected leaders and pass on a better America to the next generation.”
