Brady: CBO Report Shows Biden Economy is a Grand Slam of Misery
With national debt ballooning, Biden-Flation robbing workers’ paychecks, and an ongoing labor shortage, Congress’s independent forecaster’s latest report shows a “Grand Slam of Misery” for American families, Republican Leader of the Ways and Means Committee Rep. Kevin Brady (R-TX) said on Fox Business’s “Kudlow” with Larry Kudlow.
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READ: CBO Confirms Dems Fueled Labor Shortage and Bidenflation, Repeal of GOP Tax Cuts Leads to Slower Growth
The Congressional Budget Office’s (CBO) latest report confirms Biden-Flation will continue into the next year:
“What was worse in CBO’s projections under President Biden? What’s worse today under his leadership is the national debt will be rising by $5 trillion more, obviously infla tion, borrowing costs, and the worker shortage. It’s like the ‘Grand Slam of Misery’ for workers, families, and the economy under Joe Biden.”
Republican tax reform led to higher corporate revenues – Democrats’ repeal would worsen inflation and slash workers’ wages:
“They also debunked the myth that corporations are paying 40 percent less now under the Tax Cuts and Jobs Act. As you know, corporate tax revenues are just blowing it out and individual tax revenue is as well.
“They made it clear: If President Biden succeeds in eliminating those Trump tax cuts, our economy will slow, inflation will get worse, and workers’ incomes fall.”
Republican tax reform was the solution to over a decade of stagnation, but President Biden has returned the economy to slow growth:
“Because of more than a decade of slow growth and stagnant paychecks and jobs and manufacturing moving overseas nearly weekly, we took on tax reform.
“And now we’re seeing under Joe Biden a return to that slow growth economy. We can’t balance the budget without a strong economy and strong revenues. But you’ve got to add to that some smart constraints on spending.”