The Congressional Budget Office projected Friday that President Biden’s sweeping social spending bill would add $3 trillion to the federal deficit once so-called “budget gimmicks” that critics like Sen. Joe Manchin say hide the true cost are stripped out.

The nonpartisan CBO’s estimate came in response to a request from Sen. Lindsey Graham (R-SC) and Rep. Jason Smith (R-Mo.), the ranking member of the House Budget Committee, for a report — or “score” — of a version of the Build Back Better Act that would not wind down programs including universal child care, an expanded child tax credit, an increase in the cap on state and local tax deductions, and health insurance subsidies.

“Ronald Reagan said the closest thing to immortality on Earth is a government program,” Graham, the top Republican on the Senate Budget Committee, said during a hastily convened news conference at the Capitol.

“We all know that the child tax credits are not going to go away after a year … That is the reality of Washington,” Graham added. “These programs will not sunset, they will continue for a 10-year period.”

The news could deal a heavy blow to Senate Democrats’ hopes of passing the nearly $2 trillion bill through reconciliation after Manchin (D-WV) charged last month that “shell games” and “budget gimmicks” were being used to conceal the actual price of the massive legislation.

Republicans say Democrats will push to keep the bill’s programs going beyond their proposed expiration date, further damaging the nation’s finances.

“We’ve been saying from day one that we thought that over 10 years, [the true cost] would be over $4.5 trillion and would add around $3 trillion to the debt, and it just confirms what we’ve been saying,” Smith told The Post.

The CBO’s Friday estimate tracks with the nonpartisan Penn Wharton Budget Model, which estimated last month that the social spending plan could cost $3.9 trillion over the next decade if the new spending programs laid out in the bill were made permanent.

For example, the measure’s universal child care and preschool provisions are currently set to sunset in 2027. The expanded version of the child tax credit is set to expire next year, while a provision reducing premiums for people who purchase health insurance through marketplaces set up by the Affordable Care Act goes away in 2025.

The CBO projected that a version of the legislation passed by the House last month would add $367 billion to the budget deficit over 10 years. The agency added that a proposal to spend an additional $80 billion on IRS enforcement would raise $207 billion in revenues, for a net gain of $127 billion over the next decade.

The White House reacted angrily to the new CBO report, with press secretary Jen Psaki calling it “bogus and fundamentally dishonest.”

“This is not a CBO score, this is a fake CBO score,” Psaki told reporters during her regular briefing. “It’s not about the existing bill anybody is debating or voting on. This is about proposing the extension of programs that has not been agreed to without the commitment of the president … that he would never support extending these programs if they weren’t paid for, period.”

In a separate statement, White House deputy press secretary Andrew Bates accused Graham and Smith of deploying a “desperate straw man tactic.”

“In order to prop up a false argument as they vote to increase many of families’ biggest financial burdens, raise taxes on the middle class, and make inflation – which they have called a political ‘goldmine’ – needlessly get worse, they have to lie about the President’s position and pretend that BBB also includes a second, non-existent bill that he would not support,” Bates said. “I honestly can’t think of a more laughably discrediting way to lose the argument than this charade, which is all about hurting middle class families in order to preserve tax breaks for the wealthy.”

Senate Majority Leader Chuck Schumer (D-NY) similarly called the CBO projection “fake” and argued it “does not take into account the fact that President Biden and Democrats have committed that any extensions of the Build Back Better Act in the future will be fully offset, therefore ensuring BBBA will not increase the deficit.”

The CBO acknowledged that it did not “analyze any policies that would offset the costs of making various policies permanent” in a letter to Schumer on Friday afternoon.

“I don’t believe it’s possible to find $3 trillion of offsets without wrecking the economy,” Graham responded. “Are you going to raise taxes by $3 trillion? Are you going to cut the government by $3 trillion?”

The latest CBO estimate came hours after the Bureau of Labor Statistics revealed that the Consumer Price Index had increased by 6.8 percent over the previous 12 months, the biggest jump since 1982.

Manchin has previously expressed concern about the effect that the bill would have on inflation, even suggesting that the Senate wait until next year to take it up. Schumer, meanwhile, has set a deadline of Christmas to get the Build Back Better Act passed.

“It just shows what Sen. Manchin has been raising as concerns are extremely valid,” Smith said, “and I agree with him on it.”

Meanwhile, Graham ramped up pressure on the West Virginia Democrat to withhold any potential support for the measure.

“What I think will happen is that Joe will take these numbers and he will start making decisions about what comes next,” Graham told reporters. “And my hope is that Sen. Manchin would say, ‘Stop the Build Back Better bill until we find better answers to where inflation is hitting.'”