Francis Menton – manhattancontrarian.com
Maybe you didn’t believe me earlier this month when I issued a warning that the U.S. was “getting ready to go full Venezuela” on economic policy. After Biden’s speech a couple of nights ago, are you starting to get the picture?
All constraints are now lifted. All limits no longer apply. The federal government is now fully unleashed to solve all human problems and bring about perfect fairness and equity in human affairs. And to do so immediately if not sooner. All through the magic of a few trillion additional dollars (per year!) of federal spending. And while we’re at it, we’ll also solve the “climate emergency.” That will cost just another few incremental annual trillion. In the context of our new superpowers, that’s a rounding error.
The flood of proposed new programs and spending is so enormous as to make critiques of any individual items completely pointless. Is there a single one of these proposals that makes sense, or that actually might enhance the well-being of the American people? If so it’s such a small portion as to be insignificant.