video here: Biden's spending plan is 'cruel' to Americans: Sen. Cruz (msn.com) original article here: Trillion-dollar 'cruel' spending spree 'is not what Joe Biden campaigned on': Sen. Ted Cruz | Fox News So now there's inflation. Do Democrat supporters care? Does the American public care? Is inflation just a "small price to pay" if we get more free stuff ? Do you think government is even wisely using all this money they are printing? Or do you think it even really matters? The Left keeps saying they're going to raise the taxes on the rich. So why did Democrats start spending this massive amount of money before actually collecting these taxes in the first place? (If it's so easy to get that money in taxes, why haven't they done it? Why did they have to start spending first?)
The reason they don't get the money first is because they know that the taxes won't be for the rich....they will tax the middle class instead. The rich have many, many loopholes to pay less taxes due to how they earn their money. Heck, the Democrats tried to put eliminate SALT deductions cap in the infrastructure bill, which is a tax cut for pretty much just the rich. The rich know this which is why they are overwhelmingly democrat, except those in the oil and professional wrestling industries. Also, since the rich make their money by owning stuff, inflation makes them even richer.
Wait. What??? What game are you playing here. There's no "money being printed". And Biden's BBB plan can't possibly be causing inflation when it's not even passed in Congress yet! The inflation is due to the pandemic. Remember COVID and the shut downs, jobs ended, people working from home or unemployed, we couldn't find grocery store shelves stocked normally, road traffic greatly reduced, . . . . . . remember? Now there is reduced inventory. We all know that. We also know that people got government checks to help them through the pandemic and are now back at work in many cases, earning money and spending heavily due to pent-up demand. Inflation started months before Biden was pushing BBB much at all. Lumber spot prices went from $400/thousand board feet to $1600!!!!! - https://markets.businessinsider.com/commodities/lumber-price?op=1 The USA is the richest country in the world, remember? Congress just approved another $700 billion for the bloated military, remember? But we can't afford to fix our bridges and streets and shift further to electric transportation and lift millions of children out of poverty and make daycare more affordable and create millions of jobs in the process? Really?
Do you honestly believe very large amounts of money haven't been printed over the last year? "Normally characterized by slow, steady growth, the U.S. money supply has grown 20% from $15.33 trillion at the end of 2019 to $18.3 trillion at the end of July" The ballooning money supply may be the key to unlocking inflation in the U.S. (cnbc.com) - August 5, 2021 "During November 2020, year-over-year growth in the money supply was at 37.08 percent. That's unchanged from October's rate, and up from November 2019's rate of 5.9 percent. Historically this is a very large surge in growth, year over year. It is also quite a reversal from the trend that only just ended in August of last year, when growth rates were nearly bottoming out around 2 percent." The US Money Supply Was up 37 Percent in November - Invesbrain In case anyone doesn't realize it, something like 20% is a huge amount. 20% inflation compounding over only 6 years would make the money end up being worth nearly 3 times less than it was at the beginning.
I think they’re making the deficit rise so they can make an argument that we need higher tax rates. The cost of this hasn’t even begun to hit the American public’s pocket yet.
Demand-pull Inflation. Do let us know when you understand the difference between: 1) Demand-pull Inflation -- caused by you 2) Cost-push Inflation -- caused by you 3) Wage Inflation -- caused by circumstances over which neither you, Congress or the Federal Reserve have any control 4) Monetary Inflation -- caused by Congress, the Federal Reserve or both Don't waste your time. There's no way you can help people with a 3rd Grade education. Correct, but you'll never convince the Göbbelists. That's absolutely right but, remember, we're dealing with 3rd Graders here. Oh, wait.....that would be an insult to 3rd Graders. These people are so kindergarten in their thinking. You and I know that, but they don't. Chalk it up to the Mouse-Click Generation I guess. They think everything runs on a mouse-click.
Well, it would take close to $4 TRILLION to fix the bridges and the streets (the price tag was $3.7 TRILLION in 2019), but you seem to ignore that cities, counties and States need to be doing that. The problem when the federal government inserts itself is that $4 TRILLION won't be used to fix the bridges and streets that actually need to get fixed. That's a private enterprise/Free Market issue, not a federal government issue. "Energy Independence" is a pseudo-Conservative buzz-phrase and a lot of Liberals drank the Kool-Aid®. There are some pluses to "energy independence." It would fix Social Security. Permanently. 40 Million Americans would die and then another 20-40 Million would be dead within 3 years. Life-Expectancy from Birth would drop to 65 years and Life-Expectancy from Age 65 would drop from 18 years (20 for women) to 12 years. On a more positive note, you'd have to buy all of your pharmaceuticals from Euro-States, so maybe you can get in on the price-savings they enjoy at your expense, but then pharmaceutical companies would just eliminate the price-savings Euro-States have. You'd revert back to a Standard of Living and Life-Style on a par with 1968-1974. That means one car per family. I'm sure two wage-earner families will learn how manage their time better since they'll only have one care. They can always car-pool. Maybe a massive infusion of cash that the government doesn't have will expand the mass transportation system. At least for a handful of the 39,000+ municipalities. Everyone gets to get reacquainted with powdered laundry detergent, since liquid laundry detergent no longer exists. That's right. You need light sweet (low Sulfur) oil to refine into triethanolamine which is what makes powdered detergent into liquid detergent and nobody wants stinky clothes, so if you don't have sweet light oil, you pay big bucks to get the Sulfur out. I'm sure everyone will have lots of fun lugging the big boxes of detergent around. You would only lose 90 Million to 110 Million jobs permanently. Without all that foreign oil your personal hygiene, cosmetics, pharmaceutical and food industries will take a huge hit. Without light sweet oil from OPEC and elsewhere, Givaudan and Wild Flavors will go out of business, since they won't have any artificial colorings, flavorings or preservatives for food and then your beverage industry will also take a hit on top of that. On a more positive note, the price of housing and rents should decrease with lower demand. Explain how children with cell-phones are "in poverty." Why should I bank-roll the children of lazy unmotivated illiterate parents? I mean, if being in poverty doesn't motivate people to get education, certification or vocational/technical training to get a better paying job, then what will motivate them? I've posted links to the MIG/TIG welding certification course at Michigan vocational schools that costs $125. And, why, yes, they're all on a bus-line. Let's see.....$125 for butt-ugly tattoos or $125 to get certified and earn $17-$65/hour (depending on where you live).... .....the choice is pretty obvious to me. Um, it was State legislatures that made daycare unaffordable. State legislatures can repeal the stupid laws they enacted that made daycare unaffordable in the first place. Not in the grand scheme of things. In a closed-system like Zimbabwe or the Wiemar Republic and 100s of other States that exist or existed in the past, it is the value of the currency is relative to GDP that results in Monetary Inflation/Deflation. For States that have an open-system, like the US, those Euro-States that use the Euro, and literally a handful of others, it is the value of the currency relative to the aggregate of both domestic and global GDP. If 50 foreign States stopped holding US Dollars and stopped buying/selling globally in US Dollars, yeah, you'd see a spike in Monetary Inflation. If 100 foreign States stopped holding US Dollars and stopped buying/selling globally in US Dollars, the US would burn down, fall over and sink into a swamp.
It would be a miracle if they actually passed a spending bill focusing on the bridges and streets. But instead they just name things "stimulus bills" or "infrastructure bills" and claim it is to fix the bridges and streets, when it is really not, only a tiny percentage of the money in that bill will actually go to bridges and streets but everyone is too stupid to realize that. With all the stimulus bills and infrastructure bills that have already been passed, and all the hundreds of billions spent on those, these bridges and streets should have ALREADY been replaced and repaired, but they have not.
That's because of the political shenanigans. Senator Soothsayer and Congressman Corruptthug weasel their way into getting money for bridges and roads that don't need to be repaired/replaced. It's time to disband the Department of Transportation and repeal the federal excise tax on gasoline. The States can increase their tax on gasoline by $0.184/gallon and use that money to effect the needed repairs.
this comment came from someone else: "Those of us who are old enough to remember the last run of inflation, under Carter, also remember what followed, the recession and layoffs of 1983. I was out of work for over 6 months. Welders at my company were union, and it took 27 years of seniority to hold a first shift job. Anyone with less than 18 years of seniority was let go. Lots of manufacturing facilities permanently closed. Rising energy costs really affected transportation cost of goods to final assembly plants."
US inflation jumped 7.5% in the past year, a 40-year high | AP News - February 2022 The Labor Department said that consumer prices jumped 7.5% last month compared with 12 months earlier, the steepest year-over-year increase since February 1982. The acceleration of prices ranged across the economy, from food and energy to apartment rents and electricity. When measured from December to January, inflation was 0.6%, the same as the previous month and more than economists had expected. Prices had risen 0.7% from October to November and 0.9% from September to October.
