Posted on 08/11/2021 5:18:47 AM PDT by Sir_Humphrey
The bipartisan infrastructure legislation moving through Congress could end up on President Biden’s desk before we know it. The $1 trillion bill has reportedly cleared major hurdles in the Senate and will soon land before the House of Representatives. The president would almost certainly sign the bill, which has his support, and its bipartisan passage would represent a political victory for the Biden administration.
At least, at first.
The promised long-term economic benefits from the sweeping $1 trillion expenditure will likely never materialize, according to a new Ivy League analysis. This runs directly against the president’s promises that it would create jobs and stimulate the economy. Indeed, Biden has insisted that the government spending plan will “create millions of good-paying jobs.”
(Excerpt) Read more at fee.org ...
Even if this was a perfect plan, now is the exact wrong time for it. The private sector is struggling with material and labor shortages/costs and now the Feds will be throwing their weight around making it worse.
When did the long-term economic benefits from any piece of congressional legislation ever materialize? Every spending bill is supposed to lead to a bazillion new jobs and every tax cut is supposed to pay for itself. Neither ever happens.
“ Every spending bill is supposed to lead to a bazillion new jobs and every tax cut is supposed to pay for itself. Neither ever happens.”
You are half right.
Really? What spending bill led to all the new jobs claimed?
Tax cuts. They don’t need to pay for shit. It’s our money.
we have to take money out of the economy to put in the economy to stimulate the economy
They don’t care about it creating jobs, they are intentionally tearing down and enslaving the country.
It is obvious to anyone who drives in this country that our roads and bridges need to be repaired.
The tragedy is Trump tried to get a useful and popular infrastructure bill passed, but McConnell and the Senate wouldn’t do it because Trump wanted to protect the bill from the usual graft.
Instead the GOPe helped defeat Trump, and are now gorging themselves at the trough as Washington is now back to business as usual.
Feds will be throwing their weight around making it worse…
..I think that’s the point.
But the claim has always been made that cutting taxes will not lead to higher deficits. Still waiting on that one.
Mutually exclusive. Tax cuts have nothing to do with deficit spending.
TRUE .
The bill was meant to enslave us .
And set up the passage of the Budget bill with Amnesty for 30 million .
Then we don’t matter any more .
They hate us .
Plus they’re killing us.
Cut revenue and don't cut spending to offset it and the deficits increase.
Obama’s TARP was supposed to do the same thing. All I remember is Solyndra making a half billion dollars disappear and then taking millions In bonuses after going bankrupt.
“Everything the government touches turns to shit.”
- Ringo Starr
Like I said, they all promise the world and none of them deliver.
Tax revenue has nothing to do with deficit spending.
One is cash flow and the other is borrowing.
Taxes are just another form of control.
Don’t let the idiots tell you that tax cuts have to be offset.
Cut spending, cut taxes. Or don’t. They have nothing to do with each other.
Washington is run by lawyer scumbags, not accountants. They have no idea what they are talking about. Don’t listen to them.
Hey Joe what happened to Obama’s Stimulus don’t say it all went to paying Democrat’s supporters bills will this only go the same way
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