Democrats are promoting the expansive bill which includes a series of social reforms, but the bill has caused a fracture within the party. The multitude of views from progressives to moderate Democrats within the party have caused a series of roadblocks in negotiations. Sen. Joe Manchin, D-W.Va., stated that his spending limit was $ 1.5 trillion. On the other side, Vermont Sen. Bernie Sanders, I., wants to spend $ 3.5 trillion to be the minimum.
White House press secretary Jen Psaki said she did not believe President Joe Biden will get the full $ 3.5 trillion.
“I keep hearing Nancy Pelosi and others say: if we do not vote to raise the debt ceiling then what will happen is the full faith and credit of the United States will be destroyed because we will default on our debt … These are more scare tactics, and that’s what the Democrats do all the time. In order to change this country, in order to push their agenda, this is what they do,” Levin said.
He proceeded to rebut the claim that the U.S. would default on its debt.
“First of all we’re not going to default on our debt service. Here’s why: whether the government shuts down or goes on – you keep paying your taxes. The Treasury keeps collecting your taxes via the IRS. To the tune of approximately $ 320 billion every month. So I went and I looked. What part of this goes to debt service every month? Approximately $ 44 billion.
He asked how the U.S. would default if the federal government is receiving $ 320 billion, with $ 44 billion for the debt service. “
Levin pointed out another inconsistency he found. When the Democrats laid down concerns over a lack of funds to pay for expenses from a prior administration it was “another bald-faced lie,” according to Levin. “That money is already gone. In order to raise the debt ceiling, we’re talking about forward spending on additional programs.
The motivation for raising the debt ceiling, according to Levin, is “to pay for [the Democrats’] massive, massive reengineering of society, redistribution of wealth and the imposition of their socialist agenda.”
Levin added that Democrats “put every radical idea you can possibly think of” relating to critical race theory, climate change, or undermining the capitalist system. He further said that money would be allocated to “radical community activist groups,” which in effect, would help Democrats win elections.
“They’re going to build an army of electoral volunteers. So every election they will be out there and they will have the ability thanks to you subsidizing them, to affect the outcome of an election,” he said. “I have told you before: the Democrat Party is a very diabolical political organization. It supported slavery, it supported segregation, it led the way on Jim Crow. They don’t embrace Americanism. Now they claim it’s Democratic socialism when it’s really American Marxism. And they lie, and their media surrogates lie.”
Levin warned that this level of spending is unsustainable and putting future generations at risk.
“We’re going to turn the country inside out and upside down for generations to come. A disaster. We already have inflation, product shortages, the price of gas and food going up. Could you imagine adding several trillions of dollars to that?”