So many seem upset with the cost of the proposed $3.5 trillion infrastructure bill (cost is over 10 years, which is $350 million/year).
So why isn’t anyone upset with the $7.7 TRILLION “defense” cost over 10 years?
Why not take the $3.5 trillion infrastructure cost out of the defense budget, reducing it to “only” $4.2 trillion over 10 years?
Would we be any less safe?
Bungalow Bill
2 years ago
Isn’t it cute the GOP is now suddenly worried again about massive deficits! I recall last year when both parties were on board with all the COVID socialism spending and there was only one fiscally responsible member in Congress trying to bring light to the wasteful spending. Back them the Republican president threatened to have him kicked out of the GOP for actually being fiscally responsible. You can always tell when the Democrats are back in power. The Republicans go back to pretending they are small government champions.
As for this infrastructure bill, just read James Madisons veto of the bonus bill.
Of course we are far too gone to consider what the Constitution says…
In case you haven’t been paying attention, that is how the 2-party system works in the US. They are essentially both sides of the same coin, but how they act/complain about things depends on which side is ‘in power’. Here is how Ds felt about election integrity a few short years ago–
She, and her husband, are well connected useful idiots close to the money printers. Which is all that matters in dystopias with populations so indoctrinated they continue to fall for the trivially nonsensical idiocy that “The System” refers to anything at all besides a crass theft racket.
She spent decades throwing parties and raising tons of money for Democrat candidates. When she finally ran for Congress everybody on her side of the aisle owed her lots of favors
AWC
2 years ago
Look, as many $Trillions as is necessary will be injected into the economy, one way or another, whether via fiscal spending, defense dept largess, or helicopter delivery services, medical industry mandates, etc.
Just buy what Nancy is buying, set it and forget it. She’s “Clairvoyant “ you know? 😉
“Yeah, well … what do think they have been doing? How’s that working??”
For all those singularly stupid enough to believe paying more and more for the exact same stream of income represented by a company share, is somehow better than paying less for it, it probably appears to work quite wonderfully. There really is no fixing stupid.
mrchinup
2 years ago
Let’s be honest it would be better to let the entire world crash right now, at least the next generation would have a chance. Let every oligarch grovel at our feet, they have caused all of this mess.
“Let’s be honest it would be better to let the entire world crash right now,”
…
Absolutely.
Wealth inequality has gone past extreme. The Haves will do just fine with a lot less … and wealth gap lessens.
If Stukimoi was here he would note that the buildings / planes / cars / etc would still be here if everything crashed. Everything repriced is all that happens. All the wailing / crying / gnashing of teeth is just the Haves fretting about their asset prices tanking. Bottom 70%? Tough luck.
For the empiricists out there: The last time that happened, was the Depression and WW2 back to back. Which led to the greatest, most widespread and sustained growth period since back before the Fed started acting as an ever increasing drag on real growth.
And that was despite that particular rearrangement/repricing being accompanied by blowing up and burning down half the world’s productive capital, and a significant chunk of the productive workforce. Yet, despite that little detail, the “reset,” or “randomization” of ownership and privilege, away from those handed control of it by the first few Fed bubbles; was sufficiently beneficial to usher in the 50s and 60s: The moonshot, the planes we still fly, ARPAnet, microchips and Rock’n Roll.
Get the randomization and deleveraging/desclerotization done without the bombing, burning and killing; and you’re looking at a lot more than that.
Of course, even if people insist on remaining too dumb and indoctrinated to recognize that; there is plenty of solace to be had in knowing The Taliban and the like, will eventually get it done. Albeit in their case, including the bombing, burning and killing. Which will, as last time, still end up being a good thing. Just not necessarily the best.
Tony Bennett
2 years ago
“When Does Pelosi Blink On the Debt Ceiling?”
…
Is this a trick question?
Answer: Only after her husband has placed option trades accordingly.
WhyMe2016
2 years ago
But did Nancy give her husband the “heads up” before changing strategies?
Without a doubt … had to laugh (cry?) when I read this weekend there is at least one fund that invests solely on Pelosi’s holdings. Seems members of Congress have to make public 45 days after the fact any trade.
Pathetic.
Casual_Observer2020
2 years ago
At some point, this will all blow up on the debt markets. The constant cycle of tax cuts to starve the beast and more spending can’t go on forever can it ?
whirlaway
2 years ago
I would say that the progressives will blink, and the reconciliation package will be reduced from 3.5T to about 2.5T.
So why isn’t anyone upset with the $7.7 TRILLION “defense” cost over 10 years?
As for this infrastructure bill, just read James Madisons veto of the bonus bill.
Of course we are far too gone to consider what the Constitution says…