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That's the take over at the the libertarian Reason.com
Evocative words they were, living up to CNN anchor Jake Tapper's assessment that "given his speaking talents and challenges, it was a fairly strong performance." If only the president had dropped the mic and walked away at that point. But he insisted on reading the rest of his script.
"One of the first things I did as president was fight to pass the American Rescue Plan," he boasted of the massive spending bill pushed through Congress last year. "Because people were hurting. We needed to act, and we did."
But, as Reason's Peter Suderman pointed out at the time, "only a few percentage points of its massive $1.9 trillion price tag is specifically geared toward, you know, addressing the pandemic.…Most of it is instead a pre-existing Democratic Party wishlist of increased spending on virtually every aspect of government."
he spending actually hurt more people by devaluing the dollar and driving prices through the roof as part of a pattern, beginning under the previous administration and continuing with Biden, of flooding the economy with money.
"It is hard to ask for a clearer demonstration of fiscal inflation, an immense fiscal helicopter drop, exhibit A for the fiscal theory of the price level," observed Hoover Institution economist John Cochrane.
Biden did concede that inflation is a problem, but he certainly didn't admit that the government's helicopter drop of money and other impositions were the cause. Instead, he saw inflation as a weird side-effect of the pandemic, like the loss of taste and smell. "The pandemic meant that businesses had a hard time hiring enough workers to keep up production in their factories," he insisted, jumbling cause-and-effect involving mandatory closures of businesses, among other policy disruptions. His solution, predictably, is more government action."
Always interesting to listen to the folks at Reason, because they don't spout the GOP or Dem party line,
Biden Still Wants Government Interfering in All Areas of Life
During the State of the Union address, President Joe Biden's opening comments about Russia's invasion of Ukraine were pretty good—inspiring…
reason.com
"One of the first things I did as president was fight to pass the American Rescue Plan," he boasted of the massive spending bill pushed through Congress last year. "Because people were hurting. We needed to act, and we did."
But, as Reason's Peter Suderman pointed out at the time, "only a few percentage points of its massive $1.9 trillion price tag is specifically geared toward, you know, addressing the pandemic.…Most of it is instead a pre-existing Democratic Party wishlist of increased spending on virtually every aspect of government."
he spending actually hurt more people by devaluing the dollar and driving prices through the roof as part of a pattern, beginning under the previous administration and continuing with Biden, of flooding the economy with money.
"It is hard to ask for a clearer demonstration of fiscal inflation, an immense fiscal helicopter drop, exhibit A for the fiscal theory of the price level," observed Hoover Institution economist John Cochrane.
Biden did concede that inflation is a problem, but he certainly didn't admit that the government's helicopter drop of money and other impositions were the cause. Instead, he saw inflation as a weird side-effect of the pandemic, like the loss of taste and smell. "The pandemic meant that businesses had a hard time hiring enough workers to keep up production in their factories," he insisted, jumbling cause-and-effect involving mandatory closures of businesses, among other policy disruptions. His solution, predictably, is more government action."
Always interesting to listen to the folks at Reason, because they don't spout the GOP or Dem party line,