President Joe Biden has so far had one of the most disappointing first term presidencies in history. He has not been able to advance much of his liberal legislative agenda because he has zero support from Republicans and even a few Democrats oppose his left-leaning policies.

As a result, Mr. Biden has decided to bet the farm on his gigantic $3.5 trillion stimulus bill. If he gets it passed, which is highly questionable, it will be the largest government stimulus package in history. Most Americans have no idea what all is included in this massive boondoggle. I’ll outline it for you today.

The first thing you need to know about this enormous government giveaway is it’s much larger than $3.5 trillion. The experts who score these government giveaways have tallied up all the spending outlined in the bill and conclude it will cost $5.5 trillion, not $3.5 trillion, over the next 10 years. The media is keeping a tight lid on this, so you may not have heard about it.

What the Biden administration is calling the “Build Back Better Act” is a huge 2,465-page bill that aims to expand the nation’s social safety net (entitlements) and combat climate change.

Because the $3.5 trillion bill is opposed by Republicans, Democrats are trying to enact it through a budgetary process called “reconciliation,” solely with Democratic support. But this would require a “yes” vote from every Senate Democrat — and at least two of them, Kyrsten Sinema of Arizona and Joe Manchin of West Virginia, say they won’t support it unless the price tag comes down significantly.

Manchin says he won’t support anything over $2 trillion, and Sinema seems to agree. They may be our best hope to stop this massive government boondoggle. Even if it is whittled down to $2 trillion, it will add a huge amount to our national debt and send a message to world leaders that we couldn’t care less how much debt we rack up.

OK, so here’s the short list of what’s in this monstrosity of a government giveaway:

* Two Years of Free Community College

The legislation provides two years of free community college for all students, regardless of family income. It is anticipated to cost $108 billion. The bill would also add $80 billion in funding for Pell Grants, which brings the total to $188 billion over 10 years – which I suspect is low because colleges and universities will now have even more incentive to raise their tuition every year.

* Free Child Care & Universal Pre-K

Every family that applies shall be offered free child-care assistance for children ages 0 to 5. In all, the plan allocates roughly $450 billion to lower the cost of child-care and provide two years of universal pre-K for 3 and 4 year-olds. The goal is to keep the cost of child-care at or below 7% of most families’ income.

* Significant Expansion of Medicare

This heavily debated provision would expand Medicare to include coverage for dental, hearing and vision services. This sounds great on paper, but the Medicare Trust Fund is already facing insolvency by 2026 as is, and will be in the red even sooner if these expensive benefits are added. Over 61 million Americans receive Medicare benefits, and it grows every year.

* Extended Child Tax Credit

Democrats expanded the child tax credit for 2021 in their $1.9 trillion COVID-19 relief plan, and now want to extend it through 2025. Under the enhancement, families receive $3,600 per child under age 6, and $3,000 per child age 6 to 18. Most families receive monthly payments of either $250 or $300 per child. The full expanded child tax credit is available to individuals making up to $75,000 or married couples making up to $150,000.

* Reduce Prescription Drug Prices

Another key provision in the bill is aimed at helping to slash prescription drug prices. Americans on average pay two to three times as much as people in most  other countries for prescription drugs, according to government sources. Among other things, the legislation allows Medicare to negotiate drug prices. Medicare is currently prohibited by law from negotiating for the best deal.

* Paid Family & Medical Leave

For the first time in history, the US would have comprehensive paid leave, covering 12 weeks of paid family and medical leave. The legislation would replace at least two-thirds of earnings, up to $4,000 per month, while the lowest-paid workers would receive 80% of their income. The White House estimates the plan would cost $225 billion over 10 years. That could be low.

* Major Spending to Fight Climate Change

President Biden and the Democrats have been very stingy with details on this part of the Build Back Better Act. They have not been specific on how much of the $3.5 trillion (really $5.5 trillion) they will spend fighting climate change or what they will spend it on. Most observers think it could be up to half of all the money spent (or wasted, should I say).

This massive spending bill contains dozens of other provisions I could list, but the above items represent the largest expenditures over the next 10 years.

The big question is how do they pay for it. I’ll address that later on. Think major tax increases!