Assault on America, Day 622: Biden lies on the economy, media spreads it, and so on, and so on…
Democrats lie to two friends, then the media repeats it to two friends, and so on and so on…
It’s what a lot of people are talking about lately -- that being, how does a lie truly spread?
Fans of classic advertising campaigns will certainly recall the Faberge Organics Shampoo commercial from the early 80’s. Come on, you remember it, right? In the spot, a very young Heather Locklear said, “When I first tried Faberge Organics Shampoo with genuine wheat germ oil and honey, I told two friends about it, and they told two friends, and so on and so on and so on…” In the days before computer generated graphics, the screen split into boxes showing multiples of people supposedly converting to the wonders of the shampoo which Locklear professed would guarantee super fine, super body and super fresh smelling hair!
No one’s arguing that the Faberge boast wasn’t accurate… though the company did go out of business in 1984. Maybe not enough women took Locklear’s advice and tried it -- and then told two friends and had them tell two friends… and so on, and so on and so on…
How does this chain of gossip relate to 2020 politics? Democrat presidential candidate Joe Biden has been launching a boatload of whoppers lately to anyone who would listen. But the back slappin’, hair sniffin’ (Faberge?), shoulders massagin’, child repellin’, nude swimmin’, sexual assault denyin’ and plagiarism pushin’ great guy from Scranton (PA) doesn’t even need to bother telling two friends and have them do the same, since he has the media in his pocket -- and they’ll do the fib disseminating for him!
It goes without saying Biden’s been promising a lot of stuff to a lot of voter groups if he’s elected in November, and he’s counting on favorable economic conditions to allow him to keep his pledge to squeeze goodies like shampoo from a Faberge bottle on new converts. Nihal Krishan reported at The Washington Examiner, “The Biden administration will have greater scope to spend on programs even despite the recent spike in federal debt, a top campaign economist said, because of falling interest rates…
“Biden plans to spend almost $7 trillion over the next decade on areas such as climate change, infrastructure, healthcare, and higher education. He has said he will pay for these ambitious initiatives with approximately $4 trillion in tax increases on the wealthy, on corporations, and on certain investments. Furthermore, Biden has signaled that he will continue the historic levels of governmental relief spending that started in March in response to the coronavirus pandemic and its ensuing economic shutdowns.
“Lower interest rates for paying off federal debt would allow Biden to borrow more money and give his administration greater flexibility to implement his agenda with fewer worries about the debt growing too quickly and having an economy that is expanding at a rate that is unsustainable.”
Sure, Joe. Just add another trillion or two to the national debt and shove the resolution to the issue even further down the road when your grandchildren’s grandchildren’s grandchildren will still be paying on it (assuming the on-the-verge-of-civil-war U.S. lasts that long). But at Biden’s advanced age, he probably doesn’t worry about trivial things because to dwell on such a huge fiscal downer would negate any chance he has to be president! And the most pressing concern for Joe and his ilk is to make sure the current Oval Office occupant doesn’t get four more years to cut taxes, slash regulations, or spur on private investment in job creating industries like energy production, etc.
Biden’s and the Democrats’ tax plan is just one of the lies that grows ever larger without anyone in the media questioning it. Grampa Joe’s gargantuan tax increases won’t produce anywhere near the $4 trillion he’s projected to raise. As has been demonstrated over and over (and so on and so on?) again, removing incentive from the productive class to generate that extra marginal dollar ensures that no effort will be expended to do it. Why work harder to fund the government, especially when it’s controlled by idiots like Biden and Nancy Pelosi and “Chucky” Schumer who simply want to procure power with it?
If “the rich” or other people with means aren’t constantly working to make themselves richer, then average folks won’t get jobs either. And if no one’s making money, they won’t be paying taxes. If you don’t believe it, ask business owners in New York City what they think of Mayor Bill de Blasio’s job performance of late.
And let’s not forget, future Congresses aren’t about to just shut off the spending spigot. If politicians depend on keeping the federal gravy train rolling down its increasingly worn and shaky tracks for their own job security, they’ll grease their campaigns with assurances that the federal treasury will still be sending out checks. If Democrats get their way, the U.S. Post Office will survive in perpetuity to deliver them, too. Maybe not always on time, but the recipients will wait!
Democrats are playing politics with next year’s budget as well, debating on whether to go along with Republicans’ temporary budget extension (until after the election) or to wait it out and hopefully enjoy greater leverage when the real post-election tug-of-war begins. Look at the people they have calling the shots and devising the strategy… and it’s not hard to see why nothing ever gets done in Congress. They hate Trump so much that no other issue is of greater importance than ridding themselves of the orange menace. And yet polls still show people “trusting” Democrats more on most issues. Are they insane or just really, really, misinformed?
To be fair, the spending addiction is shared by both parties. President Trump, for all his multitude of good points, isn’t exactly frugal either. Federal deficits have climbed under his watch, and this was before the huge boost in outlays approved by Congress to combat the ill effects of the Chinese Communist Party (or Wuhan, if you prefer) virus pandemic. There were countless billions devoted to battling the virus and trillions more to keeping citizens’ heads above water when their businesses and livelihoods were yanked out from under them.
All that money borrowed and spent and some polls still say Americans disapprove of Trump’s virus response by sizeable majorities. Democrats propagate the lie that the president didn’t do enough to prevent the pandemic, and it looks like the media tells two friends and so on, and so on, and so on…
Both parties go back and forth on the wisdom of locking down the economy in the first place. But the damage is done and there’s no going back, especially when the powers-that-be estimate the debt will be north of $3 trillion this year. If Democrats had their way, they’d add another couple trillion (at least) to the total -- why not increase (in your own mind) your chances of being granted governing power by bribing the masses with more borrowed cash? It’s much simpler and probably more effective to purchase votes with Uncle Sam’s credit card than it is to change minds through traditional political methods… and common sense.
Who’s going to do something about spending and debt? Anyone? Anyone?
President Trump has promised to address the spending and debt problem in a second term, and one would surmise, based on his proven track record of keeping all his other pledges, he’d make good on it. Under its current leadership, however, Congress won’t go along with any kind of major spending cuts. Republicans gave it the ol’ establishment try about a decade ago with keen slogans like “cut, cap and balance” and the parties hammered out budget sequesters that they eventually abandoned.
History repeats itself time and again. Both parties swear they’ll get their act together if handed a large enough congressional majority to exclude the other party’s wish list from appropriations bills. Republicans enjoy slightly higher credibility on the issue, though they only seem to care about spending and debt when Democrats hold the White House. And if Democrats care -- at all -- about spending and deficits, they’re doing a very good job of disguising it.
So what about Joe’s plan? Is he correct that the nation can withstand another big spending boom if he's the one signing the bills into law?
The argument that the nation can afford more government spending because interest rates are low is pure fallacy. From my old college economics classes, interest is the “cost” of borrowing money. The “price” of money may be low now, but the government is still on the hook for the principal amount borrowed down the road. Plus, if interest rates are at rock bottom, who’s going to lend money with no chance to get anything in return for it?
The problem with government accumulation of debt versus private accumulation of debt is easily explained through the concept of utility. If you take out a loan to buy a car, for example, you commit to paying the bank every month and you still get to use the vehicle to perform necessities such as getting to work or going to the grocery store. It has value, and slowly depreciates. Similarly, when you pay your mortgage, you get to live in your house (and receive tax write-offs). The house typically adds value/equity as well.
The government “invests” in things like buildings and military jets and other assorted “stuff” that will hold value. But it also makes transfer payments to people through entitlement programs, pay checks and pensions for employees and, in probably the most glaring example, healthcare expenditures. That’s money that’s spent once and won’t benefit anyone except the recipients -- and they’ll be expecting another check next month, too.
Add in the vast amount of waste, fraud and abuse that plague government at all levels and there’s no rhyme nor reason for government to spend more, particularly with Biden and the Democrats at the helm. Does anyone seriously believe the federal government will get good value for its money on bureaucratic programs to combat “climate change” -- or to provide daycare for everyone who wants it? Does society win when government pays for universal college education?
Where’s the return on investment?
Then there are Biden’s proposals to impose a mandatory $15-an-hour minimum wage, a policy that will gut restaurants and small businesses that provide start-up jobs for teenagers or those entering the workforce. What business owner would pay someone that kind of wage to sweep floors or take food orders when you can automate and write the equipment off your taxes?
The non-monetary benefits derived from teaching people to work and be productive aren’t quantifiable. Just ask Senator Tim Scott how a business owner mentor can change your life. But not in Democrat-land, where there’s a politician waiting around every corner with a bag full of Monopoly money ready to distribute to those with outstretched hands. There’s no justifying Joe Biden’s spending plans no matter how low interest rates go.
You won’t see it on the news, but Bernie Sanders is pushing Biden hard to the left
It's no secret that the establishment media is bending over backwards -- and sideways and upside down -- to portray Grampa Joe Biden as a “moderate.” Anyone who believes that, well, probably still tells two friends about the greatness of Faberge shampoo. At any rate, lefty loon Bernie Sanders thinks Biden’s losing his grip on the kook fringe base of the Democrat party and needs to pander more to his goodie-grabbing socialist followers. Tal Axelrod reported at The Hill, “Sen. Bernie Sanders (I-Vt.) is pushing Joe Biden’s presidential campaign to expand its appeal to liberal voters and boost its focus on kitchen table issues in the final sprint to Election Day.
“Sanders, a progressive leader and former 2020 presidential candidate, has been advocating for Biden to put a greater emphasis on issues such as workers' wages and health care coverage, a former campaign aide says.
“The Vermont senator ‘is working as hard as he can to help Joe Biden win the most important election in modern American history’ but has said there are areas he thinks the former vice president's campaign can ‘continue to improve upon,’ Faiz Shakir, the senator’s former campaign manager, said in a statement.”
Well, it seems clear to any rational observer that Biden has already promised the kitchen sink to pretty much everyone. The Bern’s simply trying to get Biden to come out and concede that he’s as liberal/leftist as the rest of ‘em. Axelrod’s report rather humorously suggested some Democrats think he needs to embrace Alexandria Ocasio-Cortez to bring more Bernie bros into the fold.
Who knows? The Democrat base is pretty busy these days. They’re out on the streets with megaphones “protesting” racial injustice and “raising awareness” of something or other. Clearly they’ve been telling two friends about their plans, and they tell two friends, and so on, and so on, and so on… Joe Biden just needs to promise the moon to get them to march with him.
Trump administration response