Sen. Thune to Newsmax: CBO's Spending Bill Analysis 'Horrible News' For Dems

The Congressional Budget Office's analysis that the Build Back Better Act would add another $3 trillion to the national debt was "horrible news" to the White House and Democrats trying to push it through the Senate, Sen. John Thune tells Newsmax, and he hopes that Sen. Joe Manchin, D-W.Va., will continue to hold firm in his stance and vote the bill down.

"All it takes is one Democrat, Joe Manchin [or] Kyrsten Sinema," the South Dakota Republican and Senate Republican Whip told Newsmax's "Rob Schmitt Tonight" Wednesday night. "Every Republican will oppose this massive expansion of government, which now we know when fully implemented isn't anywhere close to what they advertise, which is $1.7 trillion. This is actually $5 trillion, with $3 trillion added to the debt because they've only got enough tax increases to cover about $1.5 trillion of this."

The bill for President Joe Biden's social spending plan, Thune added, is a "massive expansion of government, a massive expansion of spending debt taxes, everything that is bad for an economy that's just right now sort of floundering in this inflationary crisis that we're in."

According to the CBO's analysis, the legislation, without adding sunsets that would end programs funded in the measure, would increase the national deficit by $3 trillion between 2022 to 2031. Democrats, however, are arguing that many of the provisions in the legislation do have a sunset period and that the true cost isn't what the Republicans are saying it will be.

"They've been trying to say, oh, this isn't that expensive and we're going to pay for it, and we've got tax increases to cover it," said Thune. "This is a $3 trillion addition to the federal debt and there is absolutely no justification right now, given where we are economically and with respect to inflation. The worst thing you can do when you're going through an inflationary period like we are right now is flood the zone with more federal spending that can, you know, create more demand by chasing fewer goods. That's the textbook definition of inflation."

Manchin, meanwhile, reportedly snapped back at a Huffington Post reporter who said the moderate senator called him "bulls**t" Wednesday during a round with members of the media.

"'This is bulls**t. You’re bulls**t,' Joe Manchin just told me," Huffington Post politics reporter Arthur Delaney tweeted Wednesday. Manchin's response came after Delaney asked if it was true that he wanted child tax credits removed from the Build Back Better Act.

Thune told Newsmax that he's seen Manchin being chased by his Democrat colleagues, not just by members of the media.

"This poor guy is just being harassed constantly," said Thune. "It's wearing him down, but I hope he stands firm because he will do a great favor to this country and people, working families everywhere who are going to deal with the disastrous effects of this if it passes."

Thune also commented on an announcement he made earlier this year that he's considering retirement from the Senate, where he is the second-most powerful Republican under Senate Minority Leader Mitch McConnell.

But now, with McConnell coming under fire from former President Donald Trump and many GOP senators who support him, Newsmax's Rob Schmitt asked Thune if the possibility he could replace McConnell in the party's top role in the Senate means he's ready to make an announcement.

"I'm not ready to make any news," said Thune, adding that he is "closing in on a decision" that he plans to make by the end of the year about whether he'll seek reelection.

As for McConnell, "we have a leader. He's not going anywhere," said Thune.

"I have a job that consumes a lot of time trying to make sure that we keep all our folks you know on the team when the time comes, we have these tough votes," said Thune. "I'm glad to serve where I am. There are a lot of good reasons to run for reelection, and maybe not so good ones. So we're sorting through that. I'm closing in on a decision."

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