Image by Eric Perlin from Pixabay
May 7, 2021 –
In ignoring the ever-mounting national debt, President Biden’s tax and spend policies amount to a shakedown of taxpayers.
With his proposals for massive tax increases to pay for his uncontrolled spending, Mr. Biden is killing the economic progress that resulted from the Trump Administration initiatives from before and during recovery from the pandemic.
In fact, the Trump economy led to a 6.4 percent gross domestic product in Q1 2021. GDP is considered a measure of economic success.
Despite the outstanding economic growth, Democrats are calling for more federal-government intervention. Disingenuously, they’re trying to use President Biden’s anemic jobs numbers in April — an uptick in the unemployment rate to 6.1 percent — as an excuse for more government spending. (But there are reasons for the disappointing jobs numbers which had nothing to do with the nation’s economic performance. More on that later.)
Despite widespread economic forecasts of 1 million new jobs last month, April’s employment report was a shocker. Only 266,000 jobs were created.
Logical responses?
But the typical Democrat response? Firstly, a shocking statement from the White House.
“Today, there is more evidence our economy is moving in the right direction,” said President Biden.
“Today’s report just underscores, in my view, how vital the actions we are taking are,” the president said. “Our efforts are starting to work, but the climb is steep, and we have a long way to go.”
House Speaker Nancy Pelosi and others continued to push for Mr. Biden’s pork-laden $4-trillion so-called “infrastructure” and “American Jobs Plan.”
But here’s the disingenuous rub: Only 7 percent of the money – $157 billion – would be an effective use of the money for infrastructure as we know it such as airports, bridges, highways, roads, ports and waterways.
The rest would fund special-interest projects from a pickleball court in Orange, CA to free social service programs, free community college education, and free universal preschool and a lot more pork. These aren’t free programs — taxpayers would have to pay for them. Besides, what happened to personal responsibility?
Plus, the $1.8 trillion “jobs” scheme will cost will cost $700 billion more than the Biden Administration estimates, according to a new analysis by the Penn Wharton Budget Model, a nonpartisan group at the University of Pennsylvania’s Wharton School.
Stimulus planning?
It’s not only wasteful spending by Democrats. Republicans are complicit by allowing the return of pork-barrel waste earmarks.
Another reason for the president’s job report: The Democrats’ $1.9-trillion stimulus package.
But why? America has more than 7-million job openings.
Rather than go back to work – thanks to the government’s wasteful spending – many Americans make more money by not working and so they elect to stay home and feed off the taxpayer-funded free-money stimulus checks and enhanced unemployment benefits.
Employers continue to complain they cannot find qualified workers. In fact, 44 percent of small business owners say they cannot find enough workers, according to a survey by the National Federation of Independent Business.
Concurrently, Democrats extended their $300-per-week enhanced benefits for another four months. So, yes, many Americans are making more money by staying home.
That’s why the unemployment rate jumped higher. But this is an unsustainable trend for the nation’s economy.
Paying people to stay home is s ridiculous proposition and will result in dire consequences including higher taxes for future generations of Americans. Not to mention it is a huge moral scandal.
Boom or bust?
Other disastrous migraines created by the Biden Administration include executive orders killing thousands of energy-related jobs, and his fear-mongering tactics of catering to teachers’ unions by encouraging continual school closures.
This hurts the economy, too, because many moms who want a job have to stay at home.
In a sense, none of this is a surprise after the $1.9-billion COVID-19 relief bill last February, is it? Hidden in it were several COVID-free provisions. That’s right they had nothing to do with the pandemic.
Bottom-line: It’s past time for real leadership. The economy would continue its fantastic growth made possible by President Trump, if the Biden Administration and politicians would only get out of the way.
A continued shakedown of taxpayers will only lead to disaster.
From the Coach’s Corner, you might want to consider the other articles this portal’s public policy section.
“If we don’t get a grip on government spending, there will be no growth.”
-George Osborne
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