A Federal Budget Warning for Joe Manchin - WSJ Opinion

Alas, higher spending will more than offset all of the revenue windfall. Recall how Members of Congress claimed their $1 trillion infrastructure bill would be “fully paid for”? CBO now says the bill will cost $678 billion more in outlays than its estimate last summer, as higher spending on public works over the next few years will be baked into the budget baseline.

That didn’t take long.