Build Back Badly
American Spectator,
by
David Catron
Original Article
Posted By: Garnet,
11/22/2021 3:29:41 AM
Less than 24 hours after the Congressional Budget Office announced that the “Build Back Better” (BBB) bill will increase the federal deficit by $367 billion, House Democrats passed the $1.75 trillion legislation with no GOP votes. This bill, essentially a far left wish list of climate and social spending boondoggles, will certainly exacerbate inflation if passed by the Senate. Thus the absence of public support for BBB. A new Harvard/Harris poll asked registered voters, “Do you think a $1.5 to $2 trillion dollar social spending bill will lead to more inflation, less inflation, or would it have no effect on inflation?” A majority (56%) answered, “More.”
Reply 1 - Posted by:
mifla 11/22/2021 3:52:03 AM (No. 985118)
Pork and more pork, mostly for blue states.
7 people like this.
Reply 2 - Posted by:
Rumblehog 11/22/2021 5:47:20 AM (No. 985160)
Broke Back Biden
1 person likes this.
Reply 3 - Posted by:
Petronius 11/22/2021 6:14:43 AM (No. 985181)
Build Back Better, brought to you by people who have never built anything.
4 people like this.
Back Before Biden, please.
1 person likes this.
Reply 5 - Posted by:
Krause 11/22/2021 6:53:06 AM (No. 985209)
The first thing democrats do when they 'win' the WH is to raise taxes. The money is to dole out to people to get them to vote for them. They have no vision to make our country better for the American people. Not exactly what the Founders envisioned.
3 people like this.
Reply 6 - Posted by:
singermom9 11/22/2021 8:48:30 AM (No. 985341)
The whole point is to destroy America. They have to destroy it to BBB. I do not think the new plan is what is best for the people, but the elites will do well. In the BBB plan illegal immigrants get green cards and the way they can vote. biden will also say that "citizens" can vote but so can "residents" because they add so much to our country. They know if they pass this a repub will never win another election. THAT is why they are not worried about their low approval numbers. All they have to do is get this passed.
1 person likes this.
Reply 7 - Posted by:
wakeupcall 11/22/2021 9:30:39 AM (No. 985390)
The Marxist Communist democrat/republicrat GOPe BBB plan will do more of the same thing Soetoro's plan did from 2008 through 2015. The great fleecing of the American taxpayer to give to the top 1% wealthy what Soetoro's Marxist Communists called 'Quantitive Easing' the transfer from America's treasury of trillions of dollars to the top 1%.
https://nypost.com/2016/01/17/occupy-obama-he-orchestrated-a-massive-transfer-of-wealth-to-the-1-percent/
Obama orchestrated a massive transfer of wealth to the 1 percent
By Michael Gray
January 17, 2016
When people use the term Great Recession, they are playing into the charade laid out by Federal Reserve and the Treasury Department.
The years 2008 through 2015 should be known as the Great Fleecing.
During that time, the greatest transfer of wealth in the history of the world occurred. Some $4.5 trillion was given to Wall Street banks through its Quantitative Easing program, with the American people picking up the IOU.
This is the primary reason the US economy has not been able to recovery from the bank implosion of 2008.
Surely if you inject $4.5 trillion into the economy, you will get economic growth. You will get a 4% to 5% increase in Gross Domestic Product for at least a year or two.
Yet the Obama administration is the first two-term presidency that has not posted a 3% GDP growth on an annualized basis for 8 years. Even Franklin Delano Roosevelt posted 3% growth year during the Great Depression.
That’s because the $4.5 trillion was not given to any infrastructure program — it was given to banks, under the misguided notion that they needed the money to remain solvent. The banks promptly invested this money, which kept the stock market humming, but did nothing for jobs, wages or the GDP.
This was by design. The Fed could not allow the bank’s largesse to be circulated into the public for fear of rapid inflation.
The banks also funded company mergers, company debt offerings and stock buybacks. This activity kept the money sequestered and allowed a greater return for the banks. After all, they were getting free money to invest — there was no way to lose.
Who did this help? The 1%, and pretty much only the 1%.
0 people like this.
Reply 8 - Posted by:
wakeupcall 11/22/2021 9:32:51 AM (No. 985394)
https://issuesinsights.com/2020/04/27/biden-lets-fix-the-economy-by-repeating-obamas-stimulus-fiasco/
Written by the I&I Editorial Board
April 27, 2020
Joe Biden has a plan to get the economy moving again after the coronavirus shutdown. Unfortunately for him, his plan has already been tried – and it failed miserably.
In an interview with Politico published over the weekend, Biden said that after injecting trillions of dollars to keep the economy from collapsing entirely, the next stimulus needs to be “a hell of a lot bigger.”
What should the money go for? A “trillion-dollar infrastructure program that can be implemented really rapidly (and) dealing with environmental things that create good-paying jobs.”
Politico says Biden also called for “massive aid to states and cities to prevent them from ‘laying off a hell of a lot of teachers and cops and firefighters.’”
“Biden said investments in light rail, clean drinking water, and half a million electric vehicle chargers on the nation’s highways could help retool the economy for the future.”
Where have we heard this before? Oh, right, Barack Obama’s 2009 stimulus, which was going to turbocharge the economy by funding “shovel-ready jobs,” heavy investments in mass transit, “clean” energy, electric cars, and a bailout of state governments.
By any fair measure, the stimulus was an utter failure. The billions in clean energy subsidies sponsored boondoggles such as Solyndra and Fisker Automotive. There were no shovel-ready jobs, as Obama himself later admitted.
More than three-quarters of the jobs “created” by the stimulus in the first year were in government. And shortly after Biden declared 2010 the “summer of jobs,” because that’s when large chunks of the stimulus would be spent, the economy shed almost 300,000 jobs.
One analysis found that highway construction jobs actually plunged by nearly 70,000 between 2008 and 2010.
And despite Biden’s claim that the stimulus was free of waste, fraud and abuse because he was the tough cop on the beat, there was plenty of each.
0 people like this.
Reply 9 - Posted by:
red1066 11/22/2021 9:51:04 AM (No. 985418)
What was never asked was, What needed to be built back better? Better than what? Empty slogans are all the communists have.
1 person likes this.
Reply 10 - Posted by:
Kumoan 11/22/2021 8:12:32 PM (No. 985975)
truth in advertising would label it "build back bolshevick"
1 person likes this.
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