Posted on 12/08/2020 5:04:01 AM PST by goodn'mad
Judging from the fake news media's collective primal scream this weekend, you would think the American economy were lying flat on its back in the intensive care unit. Yes, the economy has been battered in blue states that have masochistically shut down their hometown businesses. But in most red states that are keeping commerce flowing despite a second deadly wave of the virus, unemployment is typically below 6%.
The jobs recovery has been so strong that we have 94.5% of the jobs we had before the worst pandemic in a century, and total wages and salaries are back up to 99% of their previous all-time high.
That hasn't stopped House Speaker Queen Nancy Pelosi from demanding another $1 or $2 trillion stimulus. (Doesn't it seem like Washington is passing out trillions of dollars like they are M&M's?)
(Excerpt) Read more at townhall.com ...
I think I can trust Trump not to do something like that. In before the conspiracy trolls and other such nerds here.
I would respect Steven Moore’s opinion on this deficit spending if he had so vociferously opposed the trillions we wasted on pointless wars in the mideast, demanded troop reductions overseas, or called for bans on social programs for illegals.
I used to respect him as an economist. Once he joined the Trump administration he began using his reputation as an economist to advocate for idiocy that makes no sense from an economic standpoint. He basically traded in his profession as an economist for a career as a political advocate -- but never told anyone.
Trump has zero leverage to get spending bills that favor his constituents. Therefore, Trump should avoid at all costs signing any bills the remainder of his time in office. It would be ill advised to attach his name to anything at this point, especially if he thinks he’s running again in 2024 (also ill advised IMHO).
The nature of economics in the context of public policy requires politics and compromises. Expecting economics to be fashioned into public policy without politics is like insisting that steaks and hamburger appear without any slaughterhouses or butchers being involved.
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