When it comes to spending other people’s taxes and borrowing money, Biden and the democrats are just getting warmed up. From David Stockman at internationalman.com:
Leave it to the New York Times to remind us why prosperity is not right around the corner. That’s regardless of whether or not the $6 trillion of Everything Bailouts that were fed into the US economy over the past year causes the 2021 GDP stats to make up for the 2020 plunge brought on by the Virus Patrol.
We are referring to the recent “leak” to the NYT presaging Sleepy Joe’s upcoming $3 trillion infrastructure plan and the following bolded sub-heading that heralded it:
A pair of proposals would invest in infrastructure, education, work force development and fighting climate change, with the aim of making the economy more productive.
And just in case the reader didn’t connect the dots to the “more productive” bit, the NYT thoughtfully provided a picture to explain.
Of course, we say no thanks.
Indeed, the NYT’s write-up of this latest Biden Boondoggle tells you all you need to know about why we do not have just a standard-size economic slump ahead but a veritable calamity.