Critics expose holes in Biden's new budget, say he did nothing to save Social Security

WASHINGTON (TND) — A government watchdog group is exposing holes in President Joe Biden’s new $6.8 trillion budget proposal.

An analysis by the Committee for a Responsible Federal Budget predicts the national debt would be at a record 106% of GDP by 2027 if Biden’s budget is passed.

Biden’s proposal features a laundry list of Democratic policy priorities and is seen as a blueprint for his 2024 campaign platform. Republicans immediately speaking out against what they say are ideas that would hurt average Americans.

For example, they’re criticizing Biden’s wish to give billions of dollars more to the IRS on top of the massive increases granted in last year’s Inflation Reduction Act.

Republicans on the House Ways and Means Committee pressed Treasury Secretary Janet Yellen during a hearing on Friday.

You already got $80 billion for the ISR. Now, you want $43.2 billion more," Rep. Jason Smith,R-MO, pointed out. "Audits are something people really care about. Will there be increased audits on working class families with these new appropriations?"

"No," Yellen responded. "I have directed, already, that IRA resources will not be used to increase the share of households or small businesses earning less than $400,000."

The plan also sets aside billions for progressive priorities like climate research.

And while it gives some reassurances for Medicare, the plan doesn’t address Social Security issues.

He doesn’t do anything to save Social Security," said Maya MacGuineas, who is president of the Committee for a Responsible Federal Budget. "If we do nothing, there will be across the board benefit cuts for all retires who are collecting benefits. And that’s just no fair. That’s going to harm a lot of people.

Biden’s budget reveal comes as negotiations with Republicans on the looming debt crisis stall, an issue critics argue needs to be addressed before negotiations on any new spending begin.