Thread by @dcpetterson

I did some tweets that should be in a single thread.

It's about the enormous size of what Democrats have achieved in a few short months.

First, remember the American Rescue Plan (ARP)?

A $1.9 trillion bill signed into law in March of 2021.

1/13
wisbank.com/2021/03/americ…

Then, in August, the Senate passed a $1.1 trillion Bipartisan Infrastructure Bill (BIL)--which will pass the House when, well, "leftist" Democrats decide to pass it. Some estimates put it at $1.4T, some at $1.9T, but we'll take the smaller number.

2/13
npr.org/2021/08/10/102…

The Senate is current assembling the "Manchinized" Build Back Better (BBB) Reconciliation bill, which will be between $1.5 trillion and $2 trillion. Again, let's take the smaller number.

3/13
msn.com/en-us/news/pol…

We are talking about an investment in America of at least (1.9 + 1.1 + 1.5 =) $4.5 trillion.

And we're less than a year into President Biden's first term.

That's a lot of money. What does it look like historically?

Let's consider FDR's New Deal.

4/13

"The New Deal... cost $41.7 billion at the time, according to a 2015 study by economists Price Fishback and Valentina Kachanovskaya. That figure translates to $653 billion in 2009 dollars... "

5/13
stlouisfed.org/on-the-economy…

But 2009 was more than a decade ago. Let's convert that to 2021 dollars. $1 in 2009 is worth $1.28 today. So $653 billion in 2009 (the cost of the New Deal) is $836 billion today.

6/13
in2013dollars.com/us/inflation/2…

$836 billion (the cost of the New Deal in today's dollars) is less than 1/5 of what Democrats have invested in America this year ($4.5 trillion).

But let's be more generous. Let's add in the cost of Eisenhower's Interstate Highway System (IHS).

7/13

The IHS cost an estimated $114 billion in 1956-1991 dollars (it took that long to complete the project), or $500 billion in 2008 dollars. Again, let's convert 2008 money to 2021 money...

8/13
whatitcosts.com/interstate-hig…

$1 in 2008 is worth $1.27 today. So $500 billion in 2008 is $635 billion today.

Let's add that to the $836 billion price tag of the New Deal. The total is $1.47 trillion. Round it up to $1.5 trillion.

9/13
in2013dollars.com/us/inflation/2…

So the total cost of the New Deal (ND) PLUS the Interstate Highway System (IHS) is $1.5 trillion in today's dollars.

Congressional Democrats and President Biden have invested $4.5 trillion in America. Since March.

That is three times as much as ND and IHS combined.

10/13

The original version of the BBB Reconciliation bill was estimated at $3.5 trillion. It's getting cut in order to get it enacted.

The media didn't bother to let you know what was in the $3.5 trillion version. They only told you about the price tag.

11/13

After refusing to say what was in the $3.5T BBB Reconciliation Bill, the media is now making it a point to tell us what's being dropped--AND STILL WON'T TELL US WHAT'S IN IT.

12/13

The media wants the narrative to be, "Democrats didn't deliver on this and this and that," and not: "Democrats got a TOTAL SHITLOAD done, and have THIS YEAR ALONE invested THREE TIMES as much in America as the New Deal and Interstate Highways COMBINED."

#MediaFails

13/13