Douglas Holtz-Eakin writes,
As noted by Gordon Gray, the CTC [childcare tax credit] in the Ways and Means-passed reconciliation bill costs $556 billion – and that covers only the next 5 years. A permanent CTC [expansion] would easily pass the $1 trillion mark, and it is the undisguised aim of the proponents for it to be permanent.
Will Marshall, of the Progressive Policy Institute, writes,
in a warning shot across Democratic bows, nearly three-in-four (73 percent) voters say they are concerned that “Democrats in Congress want to spend too much money without paying for it.”
I don’t think that the far-left faction cares.
One of these things is not like the others: The New Deal; The Great Society; Obamacare; and the $3.5 trillion reconciliation bill.
The difference is that with each of the first three, the radical policy measures were spelled out. The President put in a lot of effort selling them to the public. (I didn’t say that the salesmanship was honest.) With the reconciliation bill, there is no attempt to convince the public that it is desirable to enact an enormous child tax credit or to mandate ending use of fossil fuels in a decade. Instead, what we read is that if you’re on the blue team you want the number to be 3.5, but a few Democrats are holding out for something lower.
If all it takes to get the legislation to pass is to arrive at a compromise number, that can be done using legislative trickery, such as pretending that the CTC expansion will expire even sooner. So the radical agenda has a higher probability of passing than it might appear. If it does, then the latest wave of social transformation will be the first one to be instituted under conditions of near-total stealth.