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Advisers. austan goolsbee, good evening. >> good to see you again, nan. >> this bill as it stands now would add to the federal deficit. that's according to cbo. this is happening amid the worst inflation this country has seen in 30 years. biden says this package will help fight inflation. senator manchin is worried it could make it worse. who's right here? >> i think in a way neither are right. i think the build back better bill has virtually nothing to do with inflation, which is a matter of the next let's call it 6 to 15 months. the bill is virtually all paid for. there's a small disagreemen...

Cost of the build back better act. it says it will add $367 billion over ten years, but we should note that estimate excludes any additional revenue generated by greater enforcement of tax collections. >> chief business correspondent christine romans joining us now. walk us through the cbo calculations, and how we should be looking at that. >> that tax enforcement part of it is very important. for years, the irs budget has been cut, cut, cut. there are tax scofflaws, people who don't take their paxtaxes, you can get much more of that back in taxes that are due into the government. so what the ...

For or borrowed from you, the american hard-working taxpayer. >> it is about the math. house speaker nancy pelosi can only lose 3 votes on her side and still pass the bill but her calling card is praising big bills by just a vote or two. pelosi would not have foot this bill on the floor a she has the votes. >> this will shock all of you but biden absentas a barometer doesn't come close to paying for itself even on paper. the cbo just released cost estimate for the bill which projects it will increase the deficit by $367 billion over 10 years and likely closer to $2 trillion when you take away ...

$367 billion will be added to the deficit, janet yellen chiming in that it is fully paid for. help us understand this disconnect. >> you have a case where america, the white house, is being lead, speaker pelosi and chuck schumer in washington dc for too long, they are the only ones in america the believe spending $5 trillion is going to cost 0. the only reason, they are digging deeply into americans pockets and the thing i keep in mind is whoever controls more of your money controls your actions. it should be you, not the government and buy them raising these taxes on everything, there's going...

>> think about the greatest generation that sacrificed so much. >> house speaker nancy pelosi set the record for the longest house speech, more than eight hours and 2018 about dreamers. democrats did not want to vote until he got a price tag on the bill from the congressional budget office. >> by most estimates, this bill reduces the deficit. this bill reduces the deficit. it also ensures that all of us, all of us will pay our fair share to support our democracy. >> the bill is not paid for, cbo says the bill adds three hud $67 billion to the deficit. the white house says the bill is not as ex...