If Joe Biden were to be elected his Presidency would cost American taxpayers $11 trillion dollars, according to a study by The Manhattan Institute for Policy Research.

The conservative 501 found that Biden’s proposals on social security, health care, climate and infrastructure could plunge the US into a debt crisis.

Speaking to the Daily Caller, author of the report Brian Riedl noted that “The policies he’s proposing are going to endanger the economy over the long term,” adding “$4 trillion in new taxes, which is the biggest tax increase since the end of World War II, as well as $11 trillion in new spending, certainly more regulation, a higher minimum wage. All of that is going to weaken the economy.”

For those interested, I've released the new 2020 version of my budget chartbook.

100 pages of charts that defy conventional wisdom on budget, spending, tax, and deficits. You can download the chartbook here – https://t.co/rKZ20fxvuk

— Brian Riedl 🧀 (@Brian_Riedl) October 27, 2020

Biden has proposed $2.4 trillion in coronavirus stimulus spending, as well as $2 trillion for climate and infrastructure, and a $1.5 trillion health care expansion. It is estimated that education spending will amount to $750 billion under Biden, which includes a free college plan.

Biden has offered little in the way of explaining how the costs will be covered, other than tax hikes, which he claims will be targeted at large corporations.

The problem is beginning with a $13 trillion baseline deficit over the decade, adding $11 trillion in new spending promises, and then hoping a $3.5 trillion tax increase on the rich will make the numbers work. Eventually, big middle-class benefits require big middle class taxes. https://t.co/G6AmsbfytG

— Brian Riedl 🧀 (@Brian_Riedl) October 5, 2020

Bets are in, and the odds look heavily in Trump’s favor and it’s because the betting tables have all the right data.

The numbers were crunched using figures from Biden’s campaign website, the Committee for a Responsible Federal Budget and the Congressional Budget Office.

“It’s absolutely unsustainable,” Riedl noted adding that “The danger is that eventually the interest costs will bury us. When you borrow that much money, all it takes is a small increase in interest rates to completely bury the federal budget.”

“Ultimately, we’re going to face a reckoning that requires either significant reforms to programs like Social Security and Medicare, or a possible doubling of middle class taxes,” Riedl warned, declaring that “There’s really no third option.”

“The worst case scenario is that politicians continue to pour gasoline on the fire by enacting even more spending, which just accelerates a debt crisis,” Riedl urged.

Under President Trump, the deficit has remained under $1 trillion each year. However, it is projected to jump to almost 4 times that this year due to coronavirus spending.

In an exchange with fellow CNN host Fredo Chris Cuomo Tuesday night, Don Lemon raged at supporters of President Trump, accusing them of pretending to have financial anxieties, and not wanting to pay more taxes so they can spend more money on having “fun”.

Lemon was reacting to a segment from Cuomo’s broadcast highlighting Trump supporters participating in a dune buggy rally in Oregon.

“Boat parades, car caravans, bike parades. What attendees have in common is disposable income to spend on fun,” spewed reporter Ellie Reed, adding “While Trump’s working-class supporters have gotten a lot of attention, in 2016 a third of his voters made more than $100,000 a year.”

Lemon pounced on the footage, proclaiming that “It kind of dismantles that whole thing about economic anxiety was the reason that Trump got elected. Those people have no economic anxiety. They’re rich.”

“I want to be able to buy a $20,000 dune buggy. But I don’t want to help people who may be in need,” Lemon snarked, taking on the persona of what he believes Trump supporters are like.

“I want to be able to buy whatever which is fine, but just own up to it. And stop pretending the reason is economic anxiety,” Lemon lectured, adding “But just be honest about what your intentions and what you think and stop pretending that it is something else.”

Watch:

Calling it “selfishness” that people like to spend more money having fun, the host declared “I don’t mind paying more taxes for people who are not doing well, to help other people out. This is America. I will be okay. How much do I need? I can cut back. I can pay more.”

Not all heroes wear capes.

Only in the mind of a champagne socialist like Lemon does paying more taxes to the vastly bloated and wasteful federal government ‘help other people who are not doing well’.

The man lives in a huge swank pad in Sag Harbor. Has he been paying extra taxes or has he also been spending his vast CNN income on the good life?

Nevertheless, Lemon’s sermon continued as he preached “So, as Americans, as people, especially if you believe in the Christian values that you espouse, you’re supposed to do unto others and help others.”

“So, I do that as much as I can. I don’t like it, but I don’t mind it in a way because I am blessed and fortunate enough to be in this position to make this amount of money where I am — I have the privilege, I have the privilege, to be able to do that,” Lemon exclaimed.

Lemon finished his lecture by painting all Trump supporters as super rich frat boys racing around in yachts, a notion that is blatantly ridiculous.

“So, maybe you buy one less dune buggy, maybe you buy one less fancy car. Maybe you buy one less boat, maybe you buy one less yacht. Maybe you buy one less apartment, one less mansion. But how much money do you really need? That’s all I got to say.” Lemon concluded.

A Bloomberg poll has revealed that an overwhelming majority of Americans would be willing to spend more money on products if they are manufactured outside of China, with 40% saying they simply will not buy anything made in China at all.

In addition to these findings, 55% said that they do not believe China can be trusted to fulfil its trade-deal commitment to buy more U.S. products, while 66% said they favor raising import restrictions over the pursuit of free-trade deals as a better way to boost the U.S. economy.

The findings come as President Trump announced that he now feels ‘differently’ about the trade deal he signed with China earlier this year.

”I feel differently now about that deal than I did three months ago,” Trump told reporters Tuesday.

”We will see what all happens, but it’s been a very disappointing situation. Very disappointing thing happened with China because the plague flowed in and that wasn’t supposed to happen and it could have been stopped,” Trump added.

”Once the virus came in, once the plague, as I called it, came in, I said how did they let that happen? And how come it didn’t go into other sections of China? Why did they block it from leaving Wuhan? But they didn’t block it from going to the rest of the world, including the United States. Why is that? Beijing doesn’t have it. Other places don’t have it,” he continued.

The President touted trade deals that the US has with other countries.

“People don’t realize the amount of business that we do with Canada and with Mexico is monumental. It is the biggest trade deal in the world, bigger than the deal we made with China, most people don’t know and the China deal is kicking in.” Trump said.

Earlier this month, Trump tweeted that 100 trade deals with China wouldn’t make up for the ‘plague from China’.

As I have said for a long time, dealing with China is a very expensive thing to do. We just made a great Trade Deal, the ink was barely dry, and the World was hit by the Plague from China. 100 Trade Deals wouldn’t make up the difference – and all those innocent lives lost!

— Donald J. Trump (@realDonaldTrump) May 13, 2020