Let's not forget the Democratic Party who wants, for vote gathering of course, to forgive this incredibly HUGE amount of money that is definitely owed to the government by those who BORROWED it in the first place as part of the blame. While they forgive that 1.78 Trillion dollars they will need to supplant that amount of money in the treasury and so increase taxes on the rest of us. This could all be so easy if only the Democrats would hold people responsible for what they do.

Borrowers should be held responsible to pay back money borrowed. Criminals should be held responsible for their criminal actions, every one of us should be held responsible to take care of ourselves and not be dependent upon the government to support us.

Dennis

You must somehow be forgetting every American who is more than capable of working but who refuses to get a job, refuses to pay their own way, refuses to contribute to the monetary needs of this country. They know it is people such as you who are more than willing to spend my money to take care of them when they are perfectly capable of taking care of themselves. Everywhere I go across America I see signs all over that say, Help Wanted. Yet these people you are talking about who supposedly NEED assistance refuse to work. Yes I do know there are some people who honestly cannot work and who do need monetary assistance of some sort. I am happy to help out. But not the millions upon millions of people you want me to support. Those people are just lazy beggars who depend upon your political party to pay for them to sit on their ass and enjoy the good life while you, me and others pay for it.

Dennis

Agreed, with the importance of a few key swing states that we saw the Dems do quite well with the abortion issue on what should have been a Republican ass kicking and the flames fanned again with the six week ban (might as well have been a total ban as was pointed out many aren’t even aware in the first 6 weeks). The dems have nothing substantive so they will run on women’s rights, how transphobic the right is, the racist courts are returning us to the south in the 1930’s, turning the right wanting a secure border into a xenophobic diatribe, blah, blah, blah. All B.S. but for the abortion issue which could loose the whole enchilada for republicans if they don’t quickly come up with a national 16 week ban with specific health exclusions. It’s what the people want.

If at some point before the point of no return, the dems decide they can’t run Joe they will jettison the whole ticket to rid themselves of Kamala and draft Gavin (god help the country). This will be a tough call as Kamala checks all the Democratic “identity politics” boxes. That’s going to take some splainin Lucy!

There you go again, mentioning Trump, what does that have to do with Biden’s pedophilia? Like I said yes, Trump is a dirty disgusting man. But what does that have to do with Biden‘s pedophilia? Oh, you don’t have to go look through all my posts to find the video of Biden so called “4 foot arm” around the little girls waist. You can find it online very easily like I did. It’s not a false accusation that Biden is a pedophile here, he loves to touch, yeah sniffed and kissed little girls and make them very uncomfortable. There’s many videos proven that case. It’s funny you always accuse Trump of touching women inappropriately which is true. I’m not defending Trump at all. But you’ll defend Biden to the death.

I guess that you and I see things differently, the government transforming our electrical generation from dense power supplies to less dense renewables will come at the cost of trillions of dollars, as the article points out it will divert productive resources from the private economy to centrally planned projects that the marketplace did not show a demand for. The strongest economy in the world was built on free markets, the US during my younger years used to teach us that central planning (government planned economies) does not work. I still believe that to be true, it worries me that the government is meddling in areas in which it has little to no expertise and we will all pay a price.

Author:
Connor O'Keeffe


On June 28, President Joe Biden took to the stage in Chicago to drum up support for his economic agenda, which his own team has taken to calling “Bidenomics.” The speech was part of a broader publicity tour, “Investing in America,” with the president and his cabinet traveling the country trying to get the American people to see Biden’s economic policies as successful and popular.

In his speech, the president attacked so-called trickle-down economics, which he painted as the dominant economic policy of the American government for decades. He then defined his agenda, Bidenomics, as a “new philosophy” set to “restore the American Dream.”

But Bidenomics isn’t a new philosophy. If you look at what’s been enacted and what’s still being proposed, it becomes clear that all Biden is doing is ramping up the federal government’s industrial policy. And industrial policy has, unfortunately, been around for a long time—as have its effects. When governments pursue industrial policies, they attempt a form of entrepreneurship. And in doing so, they divert scarce resources and capital away from the production of goods and services that people actually want, freed from the feedback of the market. Bidenomics won’t restore the American Dream but will do it damage.

All the fancy, focus-group-approved economic talking points the administration is now spamming us with begin to unravel when one understands basic economic truths. Chief among these truths is that the economy is a process—not a state of being. Specifically, it’s a process for producing goods and services that satisfy the needs and wants of consumers. Every part of every line of production is a means toward that end.

For an economy to grow and everyone to become wealthier, some people need to take on the role of an entrepreneur. Entrepreneurs reallocate resources to new lines of production or refine existing lines to account for changing factors like technology, capital availability, and consumer preferences. This activity is undertaken with the purpose of producing or contributing to the production of goods and services that consumers value enough to pay for.

In a market unhampered by a government, the resources and capital used in production are the property of capitalist-entrepreneurs. That means they have control over how these inputs get used. And, because they also own the produced outputs, the capitalist-entrepreneurs are personally subjected to the constant and unignorable feedback of the profit and loss system.

Consumers on the free market can opt out of any exchange for any reason. That’s why capitalist-entrepreneurs can only make profits if they produce things consumers value. When they don’t, they are stuck with the losses. Economic losses are a motivating signal that the resources used in a line of production would be better used elsewhere.

How does Bidenomics fit into all of this? Again, one could describe much of Biden’s economic agenda as ramping up industrial policy—meaning the government is attempting entrepreneurship. Political officials are using tax dollars to acquire resources that they then allocate to new production lines. Bidenomics also entails using tax-funded subsidies to get private investors to fund projects they wouldn’t have chosen otherwise. All these tax dollars pouring into new projects allow the administration to brag about creating jobs and producing stuff, which sounds good in a campaign speech, regardless of whether the end consumers value these things as the best use of scarce resources.

From a purely practical standpoint, the federal government cannot help but be a terrible entrepreneur because it is immune from economic losses. The American people are legally prohibited from opting out of their payments to the government as they are allowed to do with any other organization. As such, the government can spend decades on wasteful projects of little to no value and face no direct economic consequences. On top of that, the lack of feedback can allow the government’s operations to drift further away from reality as scarce resources go wasted and consumer needs go unmet.

Entrepreneurship is an essential part of a growing economy. But the wealth creation brought about by entrepreneurship is only truly possible with the freedom and feedback under private property. The quasi entrepreneurship taken on by the government in the president’s economic agenda siphons scarce resources away from more valuable uses and into projects protected from the critical feedback of economic losses. Policies like this aren’t going to “restore the American Dream”; they’re the very thing killing it.