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Chris Wallace Debunks Biden's Spending Myth: 'It Doesn't Cost Zero'

Biden claims $3.5 trillion spending 'costs zero dollars' as it's 'paid for with taxes'

 on 4th October 2021 @ 7.00pm
chris wallace debunked joe biden s claims that the spending bill  costs zero dollars © press
Chris Wallace debunked Joe Biden's claims that the spending bill 'costs zero dollars'

Fox News anchor Chris Wallace has debunked the myths being peddled by Joe Biden and his allies about the Democrats' huge $3.5 trillion spending plan.

On Sunday, Wallace fact-checked a senior adviser to Biden in real-time over the administration's absurd claim that its massive $3.5T spending bill will "cost zero dollars" because it's "paid for with taxes."

For nearly two weeks, Biden administration officials, bolstered by Democratic lawmakers, have been pushing the outright lie that the massive spending bill "costs zero dollars."

They claim the net cost of the bill will be offset through tax increases, a claim that has been disproven.

In fact, some analyses indicate the bill could add more than $4 trillion to the national debt.

The Congressional Budget Office has not yet scored the bill, as ongoing negotiations between lawmakers will alter the final product.

chris wallace interjected as cedric richmond peddled joe biden s false claims © press
Chris Wallace interjected as Cedric Richmond peddled Joe Biden's false claims

"We need to deliver for the American people,” Cedric Richmond, a senior presidential advisor, told Chris Wallace on Fox News Sunday.

"And so, what we have work to do is make sure that Senator Manchin understands how this affects the future in terms of making sure that we invest in American families so that they can determine their own destiny.

"We think we have unity of purpose with Senator Manchin.

"That’s what the president does best and that is to talk to Senator Manchin and make sure that he understands the entire vision why we need to do it and what amount.”

But when Richmond echoed the Democrat lie that trillions of dollars actually equal zero, Wallace interrupted, explaining, "It doesn’t cost zero.

"Whether it’s $3.5 trillion or $2 trillion, it — or $1.5 trillion, whatever, it costs that amount of money.

"Now, you can pay for it either by borrowing it or you can pay for it by raising taxes on corporations and the wealthy, but it doesn’t cost zero.”

WATCH:

Rep. Ro Khanna (D-Calif.), a self-described progressive capitalist from a district as left-wing as it is wealthy, followed Richmond and claimed that 95 percent of Democrats are with Biden.

"He wrote those bills,” Khanna muttered.

"And that is his vision.

"His vision is we want people to have child care.

"We want people to have community college.

"We want folks to get dental and vision.

"You know who created the wealth over the last year, where all the wealth is going?

"It’s in my district. I mean, Silicon Valley has done terrific over the pandemic.

"And I’m saying, why don’t we tax some folks who have made millions of dollars with the digitization of the economy so we can help so many parts of this country, rural America, places that have been left behind, frankly, places in West Virginia that need investment in industrialization, in the new jobs, in child care.”

even socialist sen  bernie sanders  i vt  says the spending bill is too much © press
Even socialist Sen. Bernie Sanders (I-VT) says the spending bill is too much

Yet even socialist Sen. Bernie Sanders now confesses the price tag is extravagant, causing Republicans to ponder why the delay exists. 

"When a bipartisan bill passed a 50/50 Senate, it had 69 votes,” Sen. John Barrasso (R-Wyo.) said Sunday on the Democrats’ divide.

"It was a lot of momentum on its side.

"In any kind of a normal world, that would’ve been signed into law by the president.

"Now we’re at a point where the president is weak and Biden has now walked the plank for the socialist Bernie Sanders’ budget.

"He’s man overboard and he can’t swim.”

This idea was reiterated by Indiana Republican Rep. Jim Banks, who argued, "The Democrat Party today is Bernie Sanders’ Democrat Party, is not our grandpa’s Democrat Party.

"That’s why [Sen. Kyrsten] Sinema and [Rep. Joshua] Gottheimer and [Sen. Joe] Manchin are so frustrated because they know… that the majority of America does not want to become a socialist country, but the socialist Democrats control their party.”

[RELATED] JPMorgan Chase CEO Warns America: Prepare for 'Catastrophic' U.S Credit Default

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