Posted on 03/22/2021 11:28:10 AM PDT by Theoria
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.
President Biden’s economic advisers are preparing to recommend spending as much as $3 trillion on a sweeping set of efforts aimed at boosting the economy, reducing carbon emissions and narrowing economic inequality, beginning with a giant infrastructure plan that may be financed in part through tax increases on corporations and the rich.
After months of internal debate, Mr. Biden’s advisers are expected to present a proposal to the president this week that recommends carving his economic agenda into separate legislative pieces, rather than trying to push a mammoth package through Congress, according to people familiar with the plans and documents obtained by The New York Times.
The total new spending in the plans would likely be $3 trillion, a person familiar with them said. That figure does not include the cost of extending new temporary tax cuts meant to fight poverty, which could reach hundreds of billions of dollars, according to estimates prepared by administration officials. Officials have not yet determined the exact breakdown in cost between the two packages.
Mr. Biden supports all of the individual spending and tax cut proposals under consideration, but it is unclear whether he will back splitting his agenda into pieces, or what legislative strategy he and Democratic leaders will pursue to maximize the chances of pushing the new programs through Congress given their narrow majorities in both chambers.
(Excerpt) Read more at nytimes.com ...
The economy is doing fine. None of this is needed. Most (all?) of it will go Democrat corruption.
Spending money he doesn’t have will deflate the value of the dollar, but an ignorant public will see the economic numbers rising and think that biden is bringing back prosperity. This is critical for the dems. They puffed up covid19 so as to destroy Trump’s economy and get rid of Trump. Now they are going to fool us into thinking that the decrepit old fool is restoring prosperity.
They do not care.
They crash the dollar and then they have complete control..................
For all this money, could he throw some $ my disabled daughter’s way? No, because we are white and she’s not living under a bridge, yet.
Great!!!!! Haha
This is how to get inflation, stagflation, and who knows what else, without even trying.
We all know this spending will have consequences at some point, but I had a discussion with a friend recently about why we have Federal Taxes....
Most of use always believe that the Federal Government taxes people to raise money to support spending...
Now it looks like all we do is simply have the Federal Reserve print whatever is necessary....
1.9 trillion on a stimulus, 3 trillion on Infrastructure, god knows what on Socialized Medicine.....
If we just print all the money we need, why then do we need Federal Taxes....it sounds insane but it’s happening
Debauching started with Johnson in the 60’s and is escalating at an exponential pace.
We are caught in a liquidity trap:
https://en.wikipedia.org/wiki/Liquidity_trap
The more the government tries to spend, the more the average person/corporation of any means will cut spending and risky investments to the bone since they will fear future inflation.
It is the economic equivalent of quicksand.
We have the great ignoration in charge.
They all, to the man or woman, lack the intellectual capacity to govern. The solution to all problems is throw money at it.
This will not, can not end well.
Millennials and limited-income retirees will get hit hard.
Even a decade ago, if not well before, I was saying that our government has gone so far beyond pump priming that now (which is to say then) they were basically engaged in economic masturbation, wanking off with such constant ferocity that they would scandalize even the sex fiend in the novel Dr Sax.
To what I was calling Keystone Keynesians they saw bad times as demanding more spending and good times as an opportunity to spend more. Totally spendthrift.
Now these people are in the truest, most absolute sense, completely insane even compared to a decade ago. It’s small wonder they accept things like genderism.
That can BUY some VOTES now can’t it?-)
I’m pretty sure the Gooberment has already run out of OPM.
Hopium, not so much.
Way too much spending. Only spend the average amounts as done in the past years on highways and bridges. We cannot afford another big federal spending bill as we blew out 5 trillion bucks already due to covid since March 2020.
Way too much spending. Only spend the average amounts as done in the past years on highways and bridges. We cannot afford another big federal spending bill as we blew out 5 trillion bucks already due to covid since March 2020.
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