What I think is amazing is that the progressives are acting like the government is being a piker. Never mind that they’ve already OKed an extra 1 trillion in excess of everything else being spent in a normal year.
As if we need another 2 trillion on top of the 1 trillion on top of the normal yearly spending.
ColoradoAccountant
2 years ago
Having once worked for CDOT I know that you have to maintain the roads. Because if you can’t do the the easy stuff, why should the taxpayers trust you to teach the kids? The taxpayers are seeing a lot of losing at the Federal level lately, pandemic, Afganistan, inflation, etc.
They already passed 1 trillion to fix the roads and other infrastructure. That sailed though with bipartisan support because everyone knows that’s needed.
Everything in the current BBB is just money being handed out to the poor or graft to political donors. Literally nothing in it for working class people.
The roads are maintained poorly in my section of Northern CA! Especially on the local thruways that run through multiple cities like El Camino Real, which is littered with potholes that get repaired poorly, if at all and recessed manhole covers that jar the whole suspension. I’ve filed numerous reports pointing to specific places that need repair but years later, they still haven’t been repaired. And there is no one to complain to. Caltrans doesn’t give a crap.
Jojo
2 years ago
Glad it’s down the drain. Buried in it was a program to be able to apply Covid shot tracking and more nationally.
numike
2 years ago
When do I get my check?
bowwow
2 years ago
Good news. It looks like they couldn’t find anybody to pay for this.
I never got exactly what would have reduced the plan down to the $1.75T that Manchin would have gone along with. That might answer some questions that I have.
yes the dems all or nothing approach resulted in the latter . no “art of the deal” here . the dems continue to overplay their hand. Mitch out maneuvered them .
TheCaptain
2 years ago
Exponentially more expensive government programs are now required or else the Global Debt Ponzi will collapse. I doubt we are quite at the end of the road yet but if you are not thinking about long term food security for your family then you do not understand the nature of what is going on. The US has been living its grand lifestyle based on debt, not merit, not productivity or production. We have been trading our fake green paper for the production from the labor of others for many decades now. The monthly rate of trade deficit is 75 billion or more. The cumulative US debt is 29 trillion and now in the straight up portion of the exponential curve. This means that “events” will come closer and closer together, like a woman in childbirth.
More than 50% of the American population qualifies, at least from a cold, hard economics perspective, as a “useless eater”. They consume without producing anything. That means that they owe their lifestyle, meaning SNAP subsidized food, clothing, section 8 housing, etc., to the government. But government has no money of its own. It must tax, borrow, or print in order to get the cash flow it needs in order to keep the artificial carrying capacity from collapsing. One way or another the government is going to lose the ability to subsidize those at the bottom. We know they can’t raise taxes despite morons like AOC wearing designer tax the rich dresses to gala functions. The rich are mobile. When they fear tax tyranny they pull an Elon Musk, sell everything and escape. Good luck taxing the middle class more than they already are. It will start a revolution and people will just stop paying.
So the other two mechanisms for keeping the game going are borrowing from others and then, as a last recourse, debt monetization. Well, we are clearly in the debt monetization stage of this cycle. All you have to do is look at the fed’s balance sheet now going pretty much straight up. Oh sure, it can have a small pullback but that will also see markets panic and so it will not only be short lived but will be followed by an even higher amount of debt monetization.
Too many people seem to think this is an academic study which is someone else’s problem. It’s not. It’s everyone’s problem because when the lower, useless 50% begin to starve, they will come for what you have. And they will be well motivated because being suddenly homeless and hungry in large numbers they will form roaming gangs who terrorize and take what they think they need to take in order to survive. This is not a drill. When the store shelves all go empty because of these raiders, what are YOU going to do to eat? Where is YOUR food security? The time to think about these things is now.
By your definition most of the rich are useless eaters and can only function because of their hoards of employees/servants. Like it or not we are all in this together and the chiefs are worthless without the Indians and the Indians can suddenly turn on the chiefs and supplant them as has happened so many times in history so the chiefs should tread lightly.
Just like burglars and those whose house they break into. One happy Kumbaya family. With the burglars in charge, of course. After all, post burglary, they are the ones who have the money. Hence the power.
Some guys working, only to have all the wealth they create stolen, has a way of creating “internal divisions” between the workers and the thieves.
Nothing that genuine Stop the Steal couldn’t resolve. But beyond that, the “solutions” quickly starts getting rather suboptimal. At least for the non-thieves.
I’m collecting recipes like ‘Seared leg of human” and “Yummy 5 fingers”….
Eddie_T
2 years ago
So, fwiw I agree with Manchin. if you think inflation is a problem now, then it surely would be much worse with a trillion more in poorly thought-out freebies handed out to get the working class to vote Democrat.
One-armed Economist
2 years ago
Couldn’t disagree with you more.
thimk
2 years ago
let’s take a look at Manchin’s connection to WV coal industry . he probably couldn’t get clean energy plans stripped from BBB .
Man, I was really counting on that extra 4500 I’d get from the CTC in 2022 to invest in more rental properties. That’s 1/6 of a rental property around here.
Guess I’ll have to raise the money the honest old fashioned way, by hard work and wise choices. I’m so used to government freebies I almost forgot what hard work and honest investments will get you.
Yeah, a bit of satire there.
whirlaway
2 years ago
At this point, it doesn’t matter. The so-called progressives unconditionally surrendered to the right-wing corporatist DONORcrat leadership when they agreed to vote on the infrastructure bill without insisting that the BBB be voted on at the same time.
Even if a “compromise” is reached now, the whole thing will be worth not much more than 2 dollars and a used Casio watch!
The BIF passed the House 228-206. So, unless more than 10 progressives voted against, it would have passed. The number of actual, real progressives is only around 8 or 10 anyway.
Guess I’ll have to raise the money the honest old fashioned way, by hard work and wise choices. I’m so used to government freebies I almost forgot what hard work and honest investments will get you.
Yeah, a bit of satire there.