Author Topic: Biden Argues Massive Government Spending Will Help Fend Off Inflation, Not Exacerbate It  (Read 453 times)

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Offline mystery-ak

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   Biden Argues Massive Government Spending Will Help Fend Off Inflation, Not Exacerbate It
By Zachary Evans

July 19, 2021 12:18 PM

President Biden argued that a massive influx of government spending bill will help fend off inflation, in a speech on the state of the economy at the White House on Monday.

The White House has dubbed the $1.2 trillion bipartisan infrastructure bill that Senate Majority Leader Chuck Schumer plans to bring to the floor this week — and the $3.5 trillion budget resolution that Democrats plan to pass in the coming days without Republican support — the “Build Back Better” package. Biden said Monday that the two bills will help prevent, rather than exacerbate, runaway inflation.

“Whatever different views people have about the current price increases, we should be united in one thing: passage of the bipartisan infrastructure framework, which we shook hands on,” Biden said. “And my Build Back Better Plan will be a force for achieving lower prices for Americans looking ahead.”

Biden contended that investments in infrastructure such as roads, bridges, and broadband would eliminate economic “chokepoints” that currently raise prices on goods.

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Online Kamaji

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How stupid does one hsve to be to say such tripe?  And how much stupider to listen to it with a straight face?

Offline dfwgator

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How stupid does one hsve to be to say such tripe?  And how much stupider to listen to it with a straight face?

How stupid does one have to be to vote for it.   There's your problem.

Offline GtHawk

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Joe has got to stop getting economic advice from AOC.

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Offline LMAO

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This is the same guy who once said something to the effect of we have to keep spending to keep from going bankrupt.

So this economic nonsense doesn’t surprise me coming from him
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Offline The_Reader_David

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As I have observed in this forum before:  the answer to any question of the form, "Does [left-wing politician] actually understand [economic concept]?" is almost invariably, "No!"  The exceptions of late seem to be instances in which [left-wing politician] has the value Yannis Varoufakis.
And when they behead your own people in the wars which are to come, then you will know what this was all about.

Offline berdie

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Didn't Pelosi once say that unemployment was good for the economy? Must be a Dem thing.

Offline jafo2010

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Biden is a one man wrecking ball for everything he touches.  So, you can bet anything he says about economics, the truth is 180 degrees in the opposite direction and a light year down the road from where he stands.

The man is senile, and should never have been permitted to run for anything further, except to his rocking chair.

Offline mountaineer

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Stephen Moore: In Biden’s America, everyone is entitled to everything
July 20, 2021
Stephen Moore
Despite its liberal tendencies, The Washington Post editorial board once acknowledged that in a democracy, “everyone can’t be entitled to everyone else’s money.”

Well, it may have had that wrong because President Joe Biden is supersizing the entitlement state of America at a pace that makes President Lyndon B. Johnson’s Great Society initiatives seem like a fiscal bargain. By the way, that was the infamous War on Poverty that spent more than $5 trillion over the next 25 years, and as the old saying goes: We fought a war on poverty, and poverty won.

But here we go again. Biden already has spent $1.9 trillion on social welfare programs — including unemployment benefits, free health care, more generous food stamps, rental assistance, and more money for schools and state governments. Now he wants to add to that a $3.5 trillion “social infrastructure bill” — this is the new term for “welfare” — that includes all sorts of new entitlements, such as universal and fully subsidized day care, prekindergarten, free community college and student loan forgiveness for children who went to Harvard University. Democrats are also debating whether to make the weekly $300 “temporary” bonus unemployment benefits permanent. That way, no one will ever have to work.

Most dangerous of all is the planned expansions of Medicare and Medicaid. According to the watchdog group Truth in Accounting, these programs already have a long-term deficit of more than $55 trillion.

So, naturally, Biden and the Democrats want to put more passengers on this fiscal Titanic. ...
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Offline Fishrrman

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What a dunce.

Does he really believe this?

Or is it just another line handed to him, to parrot before the mics...?

Online Free Vulcan

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I guess it's opposite day.

Out of control govt spending and printing money are literally the definition of inflation.
This country has already broken apart, we're just still in the Dead Man Walking phase.