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 ...
Biden will spend 10-15 Trillion in his first two years.
If you run the numbers, it turns out the proles only get enough money to cover a month or so of expenses—after that they are back in trouble again...
That is why Bidet needs a stimulus check to the proles _every_ _month_ just to keep the economy afloat...and they would need to keep extending rent and mortgage moratoriums month after month after month....
Other federal programs just end up in the pockets of big business who can use it to buy back their own stock, increase executive pay, move plants offshore, or just hold it in cash or inventory.
The liquidity trap is toxic, and cannot be fixed with government action imho.
The only way out of it is to give investors confidence that the government will not try to inflate or spend its way out of its problems—that will take _years_ with a steady hand—zero chance of that happening.
The only way to give average citizens confidence would be to close the borders to illegal invaders and protect American industry with tariffs—and there is zero chance of that happening with the current leftist crooks in power.
Liquidity traps traditionally are harbingers of a major depression.
Nope, not on this. $10 trillion is for when they do reparations.
Debt means ABSOLUTELY nothing today.
As long as the U.S. can find a lender willing to go for the "full faith and credit" of the U.S. congress, it is Laissez les bons temps rouler.
My entire life, I've heard doom and gloom, this is the end in regards to financial stuff. The government was always kicking the can down the road. Thing is, upon clear headed examination even the skeptic could see that (rightly, or wrongly) there was always a road for the can to be kicked down. Maybe I'm being pessimistic because of everything that's gone on the last year, or so; I don't see anymore road ahead of us. We are coming to the end and there is no place else to kick the can without having to face the ramifications of poor fiscal policy for decades on end.
Oh yeah? He thinks it does because he asks then why do banks have branches. Answer me that.
Exactly, Rush said it best.
It’s all to empower Democrats via money laundering that would make the cartels blush.
If that's the case, it's a Lemon Tree.
Charles Hughes Smith has a deep understanding of our “situation::
https://www.oftwominds.com/blog.html
Bottom line—each time the can is kicked down the road it distorts the economy much more than it did the last time—and it is an exponential, not linear effect.
The crack-up boom, whenever it happens, is gonna be legendary—and worldwide.
The “experts” will all say in unison “Who could have seen this coming?”.
:-(
Machin will fold like a cheap suit.
Though he’s probably the reason the unemployed aren’t getting 500 or more a month.
Other than that, he’s been quite in line with dems
wait, is this ON TOP OF the almost 2 Trillion covid bill???
If you run the numbers, it turns out the proles only get enough money to cover a month or so of expenses—after that they are back in trouble again...
That is why Bidet needs a stimulus check to the proles _every_ _month_ just to keep the economy afloat...and they would need to keep extending rent and mortgage moratoriums month after month after month....
————
Continued stimulus is fine. I’m taking mine and considering mine as reparations for the government policy of making me totally and completely unemployable due to the Cheap Indian Labor Express.
Illegals aren’t really the problem. The million or so total work visas given to foreigners per year is the real problem.
Sure illegals use up a shit-ton of American benefits but they normally don’t complete with Americans in the labor market. Not jobs most Americans would want anyways.
At least with reparations we know they will put this money right back into the economy in the form a of Vegas vacations, big fancy cars, jewelry and all the same things that NFL & NBA players blow all their money on. Then five years later, they will be bankrupt again.
But we can't be overdrawn. We still have blank E.O. and
Legislation forms on file.
>>Where is all this money coming from. Wow.<<
Right? Are we still borrowing from China? Japan? lol
INSANE!!
Well as the democrats and media will say Biden cured the toilet paper shortage.
That’s why I call them Keystone Keynesians ... after Keystone Cops, not the beer.
Anyhoo, I consider it Keynes’ biggest failure that he never understood that once real world politicians (aka nitwits) got hold of his ideas that sooner or later all they’d ever have learned from him is an excuse to spend freely.
I will even go so far to say that Hayek had fewer fans because there was no spend to win ideology waiting in the wings, making his ideas inherently less attractive to real world politicians.
damn, that’s not funny...
Not meant to be just the facts.
Hmmm. That’s $1 trillion more than Trump wanted for the same thing. Guess Trump thought it grew on trees with $8 trillion in deficit spending in 4 years. Guess you are glad Trump didn’t get his wish-huh?
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