Posted on 08/08/2021 8:20:34 AM PDT by Browns Ultra Fan
Well, the US Senate “Bipartisan” infrastructure bill will likely pass very shortly. And it is EXPENSIVE ($1 trillion +), sort of like the twin meteors in the film “Deep Impact” where the larger meteor, the $3.5 trillion budget resolution coming right behind the smaller meteor.
Here is the 2,702 page infrastructure bill. Yes, 2,702 pages of pork-barrel spending with zero economic impact.
According to the Penn Wharton Budget Model, there is no economic impact to the Senate’s infrastructure bill, but there will be an increase in Federal debt of 1.3% by 2031.
To be sure, repairing roads and bridges is an ongoing Federal expenditure, but why isn’t there more spending on protection against EMP (electromagnetic pulse) that could fry our electrical grid and send our economy back to the stone age? Frankly, I would rather see spending on protecting our electrical grid that spend $66 billion on Amtrak or the $16 billion on electric buses, etc.
The first of these two comets will result in a massive increase in Federal debt with no corresponding increase in GDP. Thus, M2 Money Velocity (GDP/M2 Money Stock) will sink even further.
Where does it end?
(Excerpt) Read more at confoundedinterest.net ...
the $3.5 trillion budget resolution is actually $5.5 trillion
It worked for Whitmer -
“We need to fix the damn roads”
“yeah”, said the retard
Huh?
At 69, I am past years of participating in the employment market, settling for a fixed income.
The federal debt is beyond any input from me, so I sit and watch the me-lenials forge their idea of what doesn’t work.
I have no heirs, so there is no “grrandchild to enslave to the national debt”.
I owe no creditors, save the utility bills, so there is no threat of ‘calling my debts, nor repossessions.
So, y’all go and figger out the mess with my blessings.
It smells like the final transfer of wealth to an oligarchy that is about to turn out the lights on the rest of us, crash the economy, and institute their totalitarian environmental and social justice plans.
Brace for economic devastation impact!
Anyone who votes fo a 2,702 page bill without reading it should be HANGED.
Probably a whole lot of money going to democrat causes and unions. A lot of money will go unaccounted for.
That is an EXCELLENT capsule summary, BD. Well done.
To spend a trillion dollars using 1 dollar bills takes spending a dollar bill per second continuously non stop for 31,688 years. That’s $60 per minute, $3600 per hour.
Only a our fake government could misrepresent us so
Pork and Bribes
Inflation always INCREASES the velocity of money, making it that much harder to control. And the spending cannot help but be inflationary.
As an undergrad I was aiming for a career in economics. By the fifth semester I realized that what they were teaching was absolute nonsense, and dropped out. Wisest thing I ever did.
That was in the late ‘60s. It seems to have gotten much worse. AOC stands as positive proof.
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