Former Vice President Joe Biden weighed in on the spending bill President Trump and Republicans in Congress are preparing to sign. He’s not happy, he said, and he wants to know when it will stop sending him such nasty bills.
The long-term fiscal cost of his constant doubling of the deficit “is eating away the capital markets … cutting to levels we need to to get our debt down,” Mr. Biden said on NBC’s “Meet the Press.” “I am frankly fed up. And our economy has taken a huge hit because we are living beyond our means.
The White House and the Congressional Republican leadership say the tax cuts they will pass — much of which will go toward tax cuts for the wealthiest Americans and the corporations they fund — will stimulate the economy and create more jobs and more tax revenues.
“Republicans have been telling us all along that tax cuts will pay for themselves,” Mr. Biden said. “Well, our debt is still running faster than the economy.”
Mr. Biden suggested the economic stimulus from the tax cuts isn’t “just for the next two years.”
“It’s for the next 10 years,” he said. “And this will have disastrous impacts in terms of the [United] States of America when people see real economic progress in this country and Congress refuses to act.”