Democrats are rightly embarrassed at their inflationary spending

“Democrats Spent $2 Trillion to Save the Economy,” the New York Times states in the top headline on its current front page. “They Don’t Want to Talk About It.”

Really? We’re going to frame it this way, are we?

In a sense, you could say, “Sure, that makes sense. Democrats did something stupid, and they regret it.”

But why are we giving them credit for doing it to save the economy? Can you save the economy by doing what every knowledgeable person worth listening to says will destroy it?

Yes, the Democratic Party is just the political arm representing the agenda and interests of our far-left, woke, corporate media. But this headline still stands out as ridiculous. Democrats did not spend a dime to save the economy. They don’t care about the economy. They spent $2 trillion of other people’s money to boost themselves. It is backfiring on them by destroying the purchasing power and savings of working people. No one could possibly deserve it more.

Early in the pandemic era, the Trump administration signed off on stimulus packages designed to prevent disaster. American households received hundreds or even thousands of dollars in tax rebates and so-called “loans” that everyone winkingly knew was going to be forgiven. The merits were always debatable. If you wanted, you could even credibly accuse Trump of attempting to bribe the electorate.

At the time, we warned of the dangers of long-term subsidies for idleness. And that was before Biden took office. After all, the textbook explanation for inflation involves too much money chasing too few goods. On the one hand, government help for businesses seemed appropriate at a time when government was forcing them to stop producing. But at a time when people couldn’t even get their hands on toilet paper, the inflationary potential of deficit spending should be obvious to any sentient being — even to someone as out-of-it as Joe Biden.

Biden’s stimulus package was clearly superfluous by the time it passed. The recovery, by that time, had been underway for several months. Biden’s American Rescue Plan came after the COVID vaccines had already been developed and were widely available. Most people (outside of New York and D.C., anyway) had stopped playing pandemic at this point. Biden’s package was passed irresponsibly, in spite of warnings from economists who were not only Democrats but had actually worked for Obama and were speaking from the heart. And they were proven right when inflation suddenly took off. It has now persisted above 8% for months.

This means that Biden is stealing your retirement and your children’s college fund by inflating the currency to support his own short-term political fortunes. Do you think Democrats really want to talk about that in public? Of course they don’t.

When supply chains are broken and production is cut off, and the money supply increases by trillions at the exact same time because of politically calculated deficit spending, the politicians involved are always going to avoid taking responsibility for making things much worse than they had to be. But they are still responsible.

When Joe Biden says that the economy is as “strong as Hell,” he is overestimating Satan’s power. The U.S. economy has been in a recession all summer, and that is becoming more evident now. The persistence of high inflation means that the Fed will have to keep raising interest rates. That means the inevitable layoffs, business closures, and decreases in home values are not far behind. Don’t let Democrats escape responsibility for what they caused.

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