Do federal employees really stimulate the economy with their spending? They’re only spending money that was forcibly taken from others, and then largely spent on nonsense. Given that much of what they do isn’t value-adding, it stimulates the economy about the same way “mostly peaceful” youths do when they conduct a smash-and-grab at the local department store. It’s more redistribution than stimulation, and not what a healthy economy needs. The only way for the government to actually stimulate the economy is to cut taxes and get out of the way of business.
AOC also went on to show his ignorance of the facts when she said on MSNBC that this shows the need to do away with the Filibuster. The Filibuster had already been taken out of play on BBB. The Democrats did not need 60 votes and could not even find 50 so Kamala Harris could cast the deciding vote. Nobody ever corrects her when she makes these obvious false or inaccurate statements.
Biden overplayed his hand and was not smart enough to know his party and their level of support. Just like you don’t put a Bill on the floor if you don’t have the votes, you don’t base your Presidency on a Bill that has inadequate support. The majority of the country does not want to transform America. America may need some tweaks, but it does not require a total makeover. Biden needs this plan to turn the tide on a disastrous first year.
Joe Biden, the Kid from Scranton, is spending the Thanksgiving weekend with Billionaire friends on Nantucket. I have a friend who lives on Cape Cod and would love to get up on his plane this weekend but not with the President enjoying his time on the island. The TFR, temporary flight restriction, will prohibit any private flight in the area until Biden leaves the Cape.
It may seem like chaos, but I believe that it is all planned. Each terrible decision or policy contributes to the transformation of America. Americans have been numb to this point, maybe from lack of oxygen from wearing a useless mask for two years. Signs indicate that the Novocain is wearing off, and Americans are not onboard with Liberal Transformation.
Is there anything Joe can do to change that investor behavior? There sure is. He’d simply need to announce that he’s opening up drilling, endorse fracking, and give the green light to pipeline projects. Investors will expect prices to drop, and they’ll bail on the futures market like rats from a sinking ship. But that would require admitting that Donald Trump was right. That’s not going to happen with this administration.
It’s important to remember that the year-over-year changes take the economic disaster that was 2020 into account. Consumers that were already worried about the economy due to the Covid lockdowns and/or massive government spending in 2020 not only didn’t change their minds, but also grew even more worried about the state of the economy.