Manchin Raises New Inflation Concerns, Dear Joe, Just Kill It

Manchin Raises New Concerns 

Newsweek reports Joe Manchin, Buoyed by Polls, Raises new Concerns About Build Back Better Act

“They’re very much concerned, inflation has hit them extremely hard,” Manchin said of West Virginia voters.  “And It’s taking a toll,” added Manchin. “And I hear it when I go to the grocery store, or if I go to the gas station. They say, ‘Are you as mad as I am?’ and I say, ‘Absolutely.’”

West Virginia is the second-poorest state in the country, with a median household income of $48,850 and a poverty rate of just over 17.5 percent, according to World Population Review.

The MRE Research poll found that 61 percent of West Virginia voters either “strongly” or “somewhat” approved of Manchin, while Biden’s approval rating in the state was a dismal 33 percent. A 54 percent majority said that they “strongly” disapproved of Biden, with only 19 percent saying the same of Manchin.

Perhaps more worryingly for the president and others who hope to pass the Build Back Better Act, 61 percent of West Virginians said that Manchin “should oppose President Biden’s multi-trillion dollar spending proposal.” In contrast, 77 percent supported the $1.2 trillion bipartisan infrastructure bill that Manchin helped pass and Biden signed into law on Monday.

Dear Senator Manchin, Just Kill It

The BBB costs are understated and benefits overstated. BBB adds to inflation pressures, contains budget gimmicks and entitlements that will not end as scheduled.

61% of West Virginia voters don’t want it. No one with any modicum of common sense wants it as written. 

The bill was written by socialists for socialists. It deserves to die.

Dear Joe, just kill it. Better yet, declare yourself an independent, then caucus with the Republicans. 

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whirlaway
whirlaway
4 years ago
“The bill was … written by socialists for socialists.”

Rrrrriiiight.   That is why it raises the cap on SALT deduction from $10,000 to $70,000.   That is “proof”!!  LOL

You have a serious case of Socialism Derangement Syndrome.  Like the DONORcrat fans whose mantra is “Anybody I don’t like is a Russian agent”, your stance is “Anything I don’t like is socialism.”

KidHorn
KidHorn
4 years ago
Reply to  whirlaway
So you find one thing that benefits the wealthy, so the entire premise is wrong. I would guess you were one who thought Trumps tax changes benefitted the rich even though it included the SALT cap.
whirlaway
whirlaway
4 years ago
Reply to  KidHorn
Trump’s SALT cap was directed against the professional class rich in blue states.  The super-rich, even in those states, benefited from his tax cuts.

If this bill was socialist, it would have repealed the Trump tax cuts for the super-rich, and perhaps increased the SALT cap to 20K or 25K, as Sanders demanded.   It does neither.   

StukiMoi
StukiMoi
4 years ago
Reply to  whirlaway
I suppose handing massive acreage of prime Moscow real estate to above-minimum-wage apparatchiks for use as their own lanes through traffic, can’t be “socialist” either, in a well indoctrinated child’s mind……
Socialism was never about  helping some mythical “poor.” Nor “the working class.” That’s just an empty sales pitch aimed at suckering children. Instead, follow the money, it’s about taking money from working class people doing productive actual work. Then handing the loot to apparatchiks doing no such thing. So that the apparatchiks can then reward themselves handsomely with a portion of the money, while handing the remainder out to those they arbitrarily feel “deserve” it. Who, strange thing that is, magically always end up being the people closest to them. Who, just as strangely, again are, not the “working class.”
You don’t help people by stealing from them. In a free society, people doing productive work, aka working people, get remunerated for it. It follows directly from the definitions of “productive work” and “free.”
Problem for socialists is, people will pay you to be a laborer performing useful labor. But few will pay you to be a self described labor “organizer” , or labor “leader.” And, being simultaneously too illiterate and incompetent to do anything productive, yet too connected to simply be routed around and left to beg or starve or get a job, as would be the case in a free society; the latter dregs, instead, insist they are some sort of worthvile lifeform by trying to direct the totalitarian state’s indoctrination apparatus to sucker its captive indoctrinati into believing the childish myth that feeding ever growing armies of  connected deadweight leeches, in ever growing splendor despite them producing nothing of value whatsoever in return, is somehow a benefit to the workers forced to pay for it all. It wasn’t, isn’t nor ever will be. Instead, al it is, is another long winded description of crass theft.
oee
oee
4 years ago
The BBB will no more inflationary than i am 6 10 blond and blue eyed.  This is an excuse for voting no. No Senator will defy the other 49 . 
prumbly
prumbly
4 years ago
Did Mish just confuse Biden with someone who has principles?  Biden will do anything to stay in power. End of.
rojogrande
rojogrande
4 years ago
But how will I get my sweet SALT deductions if Manchin kills this?  I mean, aren’t democrats the party of the professional class?  If this was written by socialists, they must be upper middle class socialists.  That’s the only way to explain the SALT deduction increase being the second most expensive part of the bill for the first 5 years. 
whirlaway
whirlaway
4 years ago
Reply to  rojogrande
The DONORcrat Party belongs to the social-ITES.   
Eddie_T
Eddie_T
4 years ago
A trillion here and a trillion there and pretty soon you’re talking real money.  Kill it, Joe.
CRS65
CRS65
4 years ago
I don’t believe that much of what is in the BBB “human infrastructure” legislation will spur on more inflation.  Most of the inflation that we are experiencing currently is due to pandemic related issues.  Supply chains from manufacturing to shipping are not back to normal around the world, however business and consumer demand is back to post COVID-19 levels.  This timing issue is driving most of the higher than target inflation that we are experiencing.  Making it cheaper for parents to get pre-K care for their young children will help working parents and should intuitively increase the supply of people in the workforce who have made the economic choice to forgo daycare and remain out of the workforce.  That increase in the available labor force should drive down wage pressure, not increase it.  More affordable community college will upgrade our workforce and provide a better match between available labor supply and job openings.  Again, this dynamic should create a better functioning labor market and bring down wage pressure.  A wage pressure spiral is what can cause temporary inflation to become more systemic and this BBB legislation should help prevent a wage pressure spiral.
KidHorn
KidHorn
4 years ago
Reply to  CRS65
I hate the free community college part. Community college is the one part of higher education that politicians haven’t messed up. The cost of CC isn’t an issue. The cost of a 4 year college is. If they make CC free, you’ll get a flood of people going to college with no skin in the game. The colleges won’t be able to handle the flood of new students. And many of them will fail out and will just sign up for the same classes the next semester. There’s no penalty. It will leave fewer spots for serious students.
Business Man
Business Man
4 years ago
Reply to  CRS65
At what point is everything so “free” so that you just…stop working?
There are a lot of jobs that are not fun, and they are a grind.  Many of these jobs don’t pay much but a starting career wage, and it takes years to get out of that and into the next level.  But you have to start somewhere, and that’s something that we employers are willing to do for people who want to do it.  Otherwise we’ll just pay more and get more experienced people that are less of a headache.
Many people today can’t even bear to watch a 30 second ad on the internet before getting their gratification.  Do you really believe that by making life completely pain-free that people will still sign up for these menial jobs at the current wage rates?
No, what you will find is that the easing of pressures will actually contribute to wage pressure upward, not downward, because people will be comparing their cost/benefits.  This is exactly what we’ve seen in the pandemic.  After adding on the federal surplus, plus a bunch of stimulus benefits, people just decided–for their own multiple reasons–that they would just exit the workforce and relax.  There is no pressure to go back to work, because they have no financial pressure.
So, no, I reject the flawed assumptions you’ve made about the bill.  It is just bringing on more socialism, and if you want a track record on that, see European stagflation.
oee
oee
4 years ago
Reply to  Business Man
There is no European stagflation. The Euro countries had been suffering from slow growth due to the austerity policies of Merkle. if there is an increase in prices , is due to the pandemic and those who would not get vaccinated thereby stopping the plague. 
whirlaway
whirlaway
4 years ago
Reply to  oee
The right-wing media in US is constantly manufacturing stories about how things are “dire” in Europe when compared to the US, even as tens and tens of millions of  Americans work multiple jobs to make ends meet, have no vacation days or even sick leave, some 60% to 70% of the American population does not even have enough savings to meet a $1000 emergency, and hundreds of thousands of US families file for medical bankruptcy every year.   
Tony Bennett
Tony Bennett
4 years ago
Reply to  CRS65
Wow, what a fairy tale you weave.  Rivals POTUS assertion that BBB fully paid for … and those making < $400K will not see a penny of tax increase.
 “Making it cheaper for parents to get pre-K care for their young children will help working parents and should intuitively increase the supply of people in the workforce who have made the economic choice to forgo daycare and remain out of the workforce.  That increase in the available labor force should drive down wage pressure, not increase it.”
Parents left the workforce due to school closings + shut downs.  Now those ending they should return to workforce.   
Mish
Mish
4 years ago
Many discussions previously on Manchin becoming a Republican.
It occurred to me today he has an opportunity to do something better. Declare himself to be in independent. 
Tony Bennett
Tony Bennett
4 years ago
Reply to  Mish
“Declare himself to be in independent”
The problem would be he can kiss off any plum committee assignments.  Currently, Chair of Energy and Natural Resources (*cough* coal *cough*) Committee.  Maybe, if he were close to retiring.
ajc1970
ajc1970
4 years ago
Reply to  Tony Bennett
Mitch would play ball with Manchin as an independent. It’d give him back the Senate Maj Leader position, you know he’d do it.  And I actually think he’d keep his promises to Manchin down the road if the expected red wave hits in Nov 2022
KidHorn
KidHorn
4 years ago
It can pass if they get rid of all the illegal immigrant and climate change stuff.
Tony Bennett
Tony Bennett
4 years ago

Sen. https://thehill.com/people/joe-manchin (http://d-w.Va.) said on Wednesday that he is setting up a meeting with Federal Reserve Chairman Jerome Powell to talk about inflation. 

Manchin, asked if he was meeting with Powell, said his staff was working to set up a meeting, adding, “We’ve been trying.”

“Absolutely,” Manchin said, asked if he was wanting to talk with Powell about inflation. “I want to find out why we’re still buying more quantitative easing.”

KidHorn
KidHorn
4 years ago
Reply to  Tony Bennett
Powell will say it’s transitory no matter what. He will never admit his policies have led to permanently higher inflation. Not a single FED member would.
Tony Bennett
Tony Bennett
4 years ago
Reply to  KidHorn
Powell needs to thread the needle (telling the truth of some sort).  POTUS hasn’t nominated anyone yet for Chair.  If Jay gets the nod, Manchin will vote in confirmation.
Tony Bennett
Tony Bennett
4 years ago
Moderate democrats in battleground districts will take a deep sigh of relief if he does.
CRS65
CRS65
4 years ago
Reply to  Tony Bennett
Moderate Democrats want this legislation.  Maybe not every part of it, but on the whole they want it!  If they cannot find a way to pass it the energy in the party that rallied around Biden to handily beat Trump will be deflated.  The grassroots of the party will surely turn more toward the Bernie Sanders wing of the party and most young Democrats will be even more disillusioned with politics.
Tony Bennett
Tony Bennett
4 years ago
Reply to  CRS65
“Moderate Democrats want this legislation.”
Sure sure … believe what you want … and ignore Virginia results at your own peril.
Virginia a Blue State saw 
Governor D–>R
Lieutenant Governor D–>R
Attorney General D–>R
House of Delegates D–R
whirlaway
whirlaway
4 years ago
Reply to  Tony Bennett
The Virginia results were not because this legislation was passed (it hasn’t been, of course).  It was because of *not* passing the legislation.   
Tony Bennett
Tony Bennett
4 years ago
Reply to  whirlaway
LOL.
When the Democrats get slaughtered in the mid terms, I will await your mea culpa.
whirlaway
whirlaway
4 years ago
Reply to  Tony Bennett
It is over anyway.   Whatever is left of this legislation after it is passed will be so radically different from what the original proposal was.  It is worse than too little too late.   It is not even the same thing anymore.    It is not apples and oranges.   More like apples and dog poo.   

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