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CLINTON ADDS ANOTHER $10 BILLION TO HER EXPENSIVE PLANS

- November 22, 2015

Clinton Will Propose More Government Spending By Way Of A New Tax Credit And Rewriting Social Security Benefit Rules

Today, Clinton Will Introduce Her Plan To Provide Aid To American Caregivers, Proposing A New Tax Credit And New Rules For Social Security Benefits. "An aide to the Democratic front-runner said the tax credit would help families offset up to $6,000 to pay for coordinating or providing care for aging or disabled family members. Caregivers would also see added Social Security benefits under Clinton's plan, which is expected to be rolled out a town hall meeting in Iowa on Sunday afternoon, the aide said. The former secretary of State will also call to reforms to support paid and unpaid caregivers and recognize their contributions." (Kyle Balluck, "Clinton Calling For Tax Breaks To Help Families Care For Ailing Relatives," The Hill, 11/22/15)

  • Clinton's Campaign Has Estimated The Cost Of Her Plan At $10 Billion Over The Next Ten Years. "A Clinton aide said the total cost of the initiatives was estimated at $10 billion over 10 years. The campaign did not detail a particular revenue source to offset the cost but said various tax increases proposed over the course of the campaign would be enough to cover it." (Laura Meckler, "Hillary Clinton Backs New Tax Credit For Family Caregivers," The Wall Street Journal, 11/22/15)
  • Clinton "Did Not Detail A Particular Revenue Source To Offset" The Billions In New Government Spending. The campaign did not detail a particular revenue source to offset the cost but said various tax increases proposed over the course of the campaign would be enough to cover it." (Laura Meckler, "Hillary Clinton Backs New Tax Credit For Family Caregivers," The Wall Street Journal, 11/22/15)

Clinton's Reckless Spending Will Only Compound The United States' "Unsustainable" Debt

The U.S. National Debt Currently Exceeds $18 Trillion Dollars . "As of September 30, 2015, the national debt was $18.1 trillion. The public portion was about $13 trillion while the debt held by government accounts was close to $5 trillion." (Mike Patton, "Debt Ceiling Looms As National Debt Continues To Rise," Forbes, 10/27/15)

Congressional Budget Office Director, Keith Hall, Has Said Without Any Additional Spending The Country's Federal Debt Is Already On An "Unsustainable Path." "The budget office director, Keith Hall, told reporters, 'This is an unsustainable path here for federal debt.' The budget office lowered its projection for 2015 economic growth to a modest 2.3 percent, down from its 2.8 percent forecast in January and reflecting a weak first quarter." ("Federal Deficit Dips, But Report Shows 'Unsustainable Path,'" The Associated Press , 8/25/15)

Not Offering A Way To Pay For Her Billions In Proposals Has Become A Clinton Campaign Theme

"It Isn't Clear Yet" How Clinton Would Pay For Her $350 Billion College Education Plan. "The Democratic presidential candidate's campaign estimates that her plan -- which would include 'no-loan tuition' at state schools -- would cost about $350 billion over 10 years. Like many candidates, lawmakers and presidents before her, she is looking to the richest Americans to foot the bill. 'Clinton's New College Compact plan ... will be fully paid for by closing tax loopholes and expenditures for the most fortunate,' according to documents from the campaign. Just how fortunate isn't clear yet, nor is it clear which specific tax breaks and 'loopholes' Clinton will target specifically." (Jeanne Sahadi, "Who Will Pay For Hillary Clinton's College Plan," CNN, 8/10/15)

Clinton Has Made "No Reference To The Cost Of Financing" Her Childcare Initiative, Estimated To Cost $200 Billion. In addition, Clinton 'called for doubling our investment in Early Head Start and the Early Head Start-Child Care partnerships.' There is a lot of background about the importance of early childhood education, but there is no reference to the cost or financing of the initiative." (Phillip Klein, "Hillary Clinton 'Fact Sheet' On Her Universal Preschool Proposal Doesn't Say How She'll Pay For It," The Washington Examiner, 6/15/15)

Clinton Has Called For A Repeal Of The Cadillac Tax, But Has Passed The Burden Of Replacing The Lost Revenue Onto Congress Calling On Them To "Fully Pay For The Cost Of Repeal." "' Too many Americans are struggling to meet the cost of rising deductibles and drug prices. That's why, among other steps, I encourage Congress to repeal the so-called Cadillac Tax, which applies to some employer-based health plans, and to fully pay for the cost of repeal,' Clinton said in a statement." (Anne Gearan, "Clinton To Call For Nixing 'Cadillac Tax' On Health Plans Under Obamacare," The Washington Post , 9/29/15)

Clinton "Offered No Details" On How To Pay For Her Estimated $75 Billion Childhood Education Plan. "Beyond that, she offered no details, nor did her campaign offer a cost estimate. A similar 2013 proposal from Mr. Obama was estimated at $75 billion over 10 years." (Laura Meckler, "Clinton Embraces Obama's Call For Expanded Public Preschool,"The Wall Street Journal," 6/15/15)

"It's Unclear" On Where The Money Will Come From To Pay For Clinton's Energy Plan, With Almost $20 Billion Unaccounted For. "The Clinton camp estimates that its proposal, which calls for installing 500 million solar panels across the U.S. by the end of her term, would cost about $60 billion over 10 years - money that would come from rolling back tax benefits for the oil and gas industry. But it's unclear where at least $20 billion of that money would come from." (Elena Schor, "The Holes In Hillary Clinton's Climate Plan," Politico, 7/27/15)

Clinton Has Offered To "Specify Later" How She Will Pay For Her Profit-Sharing Tax Credit Plan, Estimated To Cost Up To $20 Billion Over A Decade. "The tax credit would last just two years and cost the government $10 billion to $20 billion over a decade, according to the campaign, which says those costs would be offset by closing 'loopholes' that Clinton will specify later. She is speaking Thursday afternoon in New Hampshire about the proposal." (Richard Rubin, "Hillary Clinton Dangles Tax Credit To Companies That Share Profits With Workers," Bloomberg , 7/16/15)

Clinton's Campaign Has Offered The Usual Ambiguous Tax Increases As A Way To Pay For Her Billion Dollar Hiring Tax Credit Plan, "But Haven't Detailed Them Yet." "As with Monday's preschool proposal, the campaign didn't provide a cost estimate of the apprenticeship plan. Campaign aides have said that Mrs. Clinton's proposals would be paid for with tax increases or spending cuts, but haven't detailed them yet." (Laura Meckler, "Hillary Clinton Proposes Tax Credit For Business To Train Apprentices," The Wall Street Journal , 6/17/15)

Clinton Has Provided No Information On How She Would Pay For Reinstituting And Expanding The New Markets Tax Credit. (Press Release, "Hillary Clinton's Plan To Break Free From The Tyranny Of Today's Earnings Report And Encourage Long-Term Growth," The Briefing, Accessed 11/11/15)


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