If you read the stories about Joe Biden’s budget proposal, you’ll see some sleight of hand happening. Take this New York Times article for example. President Biden on Thursday will propose policies aimed at trimming federal budget deficits by nearly $3 trillion over the next 10 years as his administration embraces the politics of debt reduction amid a fight with Republicans over raising the nation’s borrowing limit, a senior administration official said on Wednesday.
Presidential budgets are just foolishness and foley. It is wholly un-news worthy. All of this is meaningless. I cannot believe serious journalists and pundits would waste time on this topic. Nonetheless, Mr. Biden, how about this: if millionaires and billionaires are not paying their fair share, I hereby demand that the government immediately lower the tax burdens of each and every one of us to match the lower tax burdens of the rich. Voila! Fairness.
The President's budget proposal is a socialist's dream. Bernie and Liz Warren should be applauding with giddy anticipation. Yes, let us hope and pray that this budget is DOA. Biden's hair-brained advisors certainly must recognize that this budget would cause an economic collapse and a severe depression. Yes, depression. These folks are young and have no memory of the great inflation of the 1930s. It is now recognized that many things FDR did actually exacerbated and prolonged the depression.
For the past year we have watched Joe Manchin quietly shift to the middle, and sometimes to the right. Enough so that media asks him if he is switching to a Repub. He keeps saying no, and now I can see why.
This weekend West Virginia politics veered hard right. Governor Jim Justice, well-liked by most, announced that within a few days he would be announcing a run for the Senate. He further said that if he ran, he was GUARANTEED to win. I believe him. It will be a blowout against any Dem that opposes him.
So now Joe Manchin is almost guaranteed to not be in the senate in 2 years. He is a smart guy, and I don’t think he will rerun and take the hit. But what he can do is finally become the senator for all the citizens of West Virginia who placed their trust in him. He will no longer feel any pressure from Schumer. He can quietly control the Dem agenda by leaning towards the right.
He will fight for education, against woke, for a strong military, for a fair tax system, against out-of-control spending, and definitely for COAL. His focus will be all West Virginia as he burnishes his long-term reputation.
I only wish 99 other Senators would take the same approach.
Repubs control the House and won’t approve Brandon’s vision.
Senate is pretty close to gridlocked, and my bet is at least Manchin will vote with the Repubs against Brandon’s vision.
I conclude this goes back into the crapper from whence it came.
But today the jobs number came out and it was almost DOUBLE what was predicted. The economy is still too hot. This will fuel the Fed into another harsh rate hike. The Fed believes that the only way to stop inflation is to jack up rates and force a mini recession.
So now I think McCarthy is finally in charge. He holds the keys to any spending reductions with the budget cap negotiations. Unfortunately, you can hold the collective gonads of all the republicans in a very small teacup.
Keynesian economics, responsible for almost every bad economic decision since 1920.
That and static economic models.
Is the average person so stupid as to not realize that the average person has money in the stock market and would be negatively impacted by raising the capital gains tax?
Will this budget lead to a recession? No; a depression is actually more likely. All those tax increases will inevitably slam the brakes on any possible future economic growth. The fact that most Americans will have much less money in their pockets due to the loss of income which will be lost to the taxman will exacerbate the drag on growth. Inflation WILL lessen, but only because depressions are deflationary events. Business will also suffer from a shortage of capital for R&D, hiring, and expansion. This is no way to reduce deficits by any (small) amount. I can scarcely think of a worse outcome.
The Republicans were right when they noted that we have a spending problem, not a revenue one. A hard line is needed to avert a fiscal disaster, but I fear that such realism is anathema to them. Meanwhile under the radar, the march toward the adoption of a Digital Central Bank Currency continues, with the destruction of our essential liberties close behind.
On the flip side Republicans only oppose spending when Democrats are in office and do poor job of it. Bush 43 spent money like a drunken sailor. Medicare Part B, seriously? Let's give the generation that holds the most wealth in the history of the world "freee" drug". Which set the stage for Obama to let big pharma and insurance companies collude to set stupid prices because the fact that we ultimately pay for it is obfuscated.
Just continuing down the path we are on is going to cause a worse recession than 2008 if not a depression. People are so desperate now the credit card debt is approaching 1 trillion. And no doubt part of that is driven by the hope dreams eternal of debt forgiveness. You get more of the behavior you reward and Democrats have been rewarding irresponsibility and engaging in it for decades.
For a minute, I was thinking the same thing - just pass the stupid budget as is. But, that would just kill us all. We need some adults to take over this circus.
The WEF globalist Great Reset, if you just read what they say… they ain’t hiding it… seems to explain what many of us… especially those of us that voted for Biden out of a Trump-hate tantrum… don’t want to admit.
We don’t want to admit that the Biden Democrats have adopted the corporatist’s plan to deconstruct the USA as it is to make it into a new version of itself controlled by administrators of the liberal global new world order. They are purposely injecting social and economic chaos in a mad dash toward full system collapse where they, the members of the Uniparty ruling class, envision they will be rewarded as the exclusive rich and powerful… and the radicals get their collectivist utopia.
It is a crack up to me how even at this time with all the evidence in front of us that we keep debating “the unseriousness” of Biden policies and actions. Biden is a hired puppet whose strings when pulled run a giant USA wrecking ball. Only the baked in resilience of the structures of the American ethos and economy have so far prevented it from toppling.
Biden has been a clear and present danger to the country from day one.
Erick’s last two paragraphs say it all. We have been overwhelmed with spending for the last 2 years, and the members of Congress know that one a level is set, it is nearly impossible to cut back. People do not realize this is a massive increase from just 3 years ago because the facts are not clearly explained by the government or the media. But we must simply demand that this ends now. The new Speaker and others have promised to return to separate bills for clarity and control - we must demand that they do so and if they don’t find others that will. To do that, we must hold the party structure that enables campaigns to ‘think and act different’ and find serious people who will do the serious and hard work of controlling spending. We need fewer media stars focused on ‘taking the stage’ and more candidates that will grind through the paperwork and eliminate the unnecessary, the wasteful, and the fraud. As long as politicians are re elected when they bring back lavish spending projects like light rail systems that cost $100M to carry 400 people a day or thousands of EV charging stations and subsidies for vehicles, we will continue to suffer.
If I were going to cut federal spending I would start with about ten or so cabinet positions and departments and eliminate them completely. I would start with the department of education, then the department of transportation and continue from there. Obviously this administration whoever that might be think we are stupid.
Time for them grow up (yeah that’s not going to happen). If I ran my life like the federal government my electricity and water would be turned off, and the deputy sheriff’s would be escorting me off my property !!! Also if I carried that much debt and spending Dave Ramsey would track me down and slap the shit out of me
Better idea.
Last count I have is there are 430 federal agencies. My estimate is 400 should be closed immediately.
There's the only Inflation Reduction Act I can support.
Presidential budgets are just foolishness and foley. It is wholly un-news worthy. All of this is meaningless. I cannot believe serious journalists and pundits would waste time on this topic. Nonetheless, Mr. Biden, how about this: if millionaires and billionaires are not paying their fair share, I hereby demand that the government immediately lower the tax burdens of each and every one of us to match the lower tax burdens of the rich. Voila! Fairness.
The President's budget proposal is a socialist's dream. Bernie and Liz Warren should be applauding with giddy anticipation. Yes, let us hope and pray that this budget is DOA. Biden's hair-brained advisors certainly must recognize that this budget would cause an economic collapse and a severe depression. Yes, depression. These folks are young and have no memory of the great inflation of the 1930s. It is now recognized that many things FDR did actually exacerbated and prolonged the depression.
William Stead
More on why I think Brandon’s budget is DOA
For the past year we have watched Joe Manchin quietly shift to the middle, and sometimes to the right. Enough so that media asks him if he is switching to a Repub. He keeps saying no, and now I can see why.
This weekend West Virginia politics veered hard right. Governor Jim Justice, well-liked by most, announced that within a few days he would be announcing a run for the Senate. He further said that if he ran, he was GUARANTEED to win. I believe him. It will be a blowout against any Dem that opposes him.
So now Joe Manchin is almost guaranteed to not be in the senate in 2 years. He is a smart guy, and I don’t think he will rerun and take the hit. But what he can do is finally become the senator for all the citizens of West Virginia who placed their trust in him. He will no longer feel any pressure from Schumer. He can quietly control the Dem agenda by leaning towards the right.
He will fight for education, against woke, for a strong military, for a fair tax system, against out-of-control spending, and definitely for COAL. His focus will be all West Virginia as he burnishes his long-term reputation.
I only wish 99 other Senators would take the same approach.
Cheers
Stepping back to take stock of the landscape.
Repubs control the House and won’t approve Brandon’s vision.
Senate is pretty close to gridlocked, and my bet is at least Manchin will vote with the Repubs against Brandon’s vision.
I conclude this goes back into the crapper from whence it came.
But today the jobs number came out and it was almost DOUBLE what was predicted. The economy is still too hot. This will fuel the Fed into another harsh rate hike. The Fed believes that the only way to stop inflation is to jack up rates and force a mini recession.
So now I think McCarthy is finally in charge. He holds the keys to any spending reductions with the budget cap negotiations. Unfortunately, you can hold the collective gonads of all the republicans in a very small teacup.
MOTS.
Cheers
Keynesian economics, responsible for almost every bad economic decision since 1920.
That and static economic models.
Is the average person so stupid as to not realize that the average person has money in the stock market and would be negatively impacted by raising the capital gains tax?
I disagree with the term 'Irresponsibility.'
Insanity, or lunacy seem more appropriate.
Will this budget lead to a recession? No; a depression is actually more likely. All those tax increases will inevitably slam the brakes on any possible future economic growth. The fact that most Americans will have much less money in their pockets due to the loss of income which will be lost to the taxman will exacerbate the drag on growth. Inflation WILL lessen, but only because depressions are deflationary events. Business will also suffer from a shortage of capital for R&D, hiring, and expansion. This is no way to reduce deficits by any (small) amount. I can scarcely think of a worse outcome.
The Republicans were right when they noted that we have a spending problem, not a revenue one. A hard line is needed to avert a fiscal disaster, but I fear that such realism is anathema to them. Meanwhile under the radar, the march toward the adoption of a Digital Central Bank Currency continues, with the destruction of our essential liberties close behind.
On the flip side Republicans only oppose spending when Democrats are in office and do poor job of it. Bush 43 spent money like a drunken sailor. Medicare Part B, seriously? Let's give the generation that holds the most wealth in the history of the world "freee" drug". Which set the stage for Obama to let big pharma and insurance companies collude to set stupid prices because the fact that we ultimately pay for it is obfuscated.
Just continuing down the path we are on is going to cause a worse recession than 2008 if not a depression. People are so desperate now the credit card debt is approaching 1 trillion. And no doubt part of that is driven by the hope dreams eternal of debt forgiveness. You get more of the behavior you reward and Democrats have been rewarding irresponsibility and engaging in it for decades.
For a minute, I was thinking the same thing - just pass the stupid budget as is. But, that would just kill us all. We need some adults to take over this circus.
The WEF globalist Great Reset, if you just read what they say… they ain’t hiding it… seems to explain what many of us… especially those of us that voted for Biden out of a Trump-hate tantrum… don’t want to admit.
We don’t want to admit that the Biden Democrats have adopted the corporatist’s plan to deconstruct the USA as it is to make it into a new version of itself controlled by administrators of the liberal global new world order. They are purposely injecting social and economic chaos in a mad dash toward full system collapse where they, the members of the Uniparty ruling class, envision they will be rewarded as the exclusive rich and powerful… and the radicals get their collectivist utopia.
It is a crack up to me how even at this time with all the evidence in front of us that we keep debating “the unseriousness” of Biden policies and actions. Biden is a hired puppet whose strings when pulled run a giant USA wrecking ball. Only the baked in resilience of the structures of the American ethos and economy have so far prevented it from toppling.
Biden has been a clear and present danger to the country from day one.
Erick’s last two paragraphs say it all. We have been overwhelmed with spending for the last 2 years, and the members of Congress know that one a level is set, it is nearly impossible to cut back. People do not realize this is a massive increase from just 3 years ago because the facts are not clearly explained by the government or the media. But we must simply demand that this ends now. The new Speaker and others have promised to return to separate bills for clarity and control - we must demand that they do so and if they don’t find others that will. To do that, we must hold the party structure that enables campaigns to ‘think and act different’ and find serious people who will do the serious and hard work of controlling spending. We need fewer media stars focused on ‘taking the stage’ and more candidates that will grind through the paperwork and eliminate the unnecessary, the wasteful, and the fraud. As long as politicians are re elected when they bring back lavish spending projects like light rail systems that cost $100M to carry 400 people a day or thousands of EV charging stations and subsidies for vehicles, we will continue to suffer.
If I were going to cut federal spending I would start with about ten or so cabinet positions and departments and eliminate them completely. I would start with the department of education, then the department of transportation and continue from there. Obviously this administration whoever that might be think we are stupid.
But remember folks just the people making over 400k are going to pay . Right and We all know that won’t happen
It didn’t happen before; I guess that Grandpa Dementia didn’t count the expiration of the Trump tax cuts as a tax increase.
Washington wants more of your money. Things in stores are up 25-100% from this time in 2020. Thanks Brandon and the political whores in both parties.
“the Republicans must be responsible”. That’s funny. No one on either side is acting responsibly, ever. Performance politics demands the opposite.
You are so right. This is not a left/right problem. This is a federal government problem
Time for them grow up (yeah that’s not going to happen). If I ran my life like the federal government my electricity and water would be turned off, and the deputy sheriff’s would be escorting me off my property !!! Also if I carried that much debt and spending Dave Ramsey would track me down and slap the shit out of me
That last line is GREAT!! Hahahaha!!!