Not a Monkeys Uncle
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- Jan 25, 2022
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Inflation soars to 31-year high as holidays
Inflation already hurting Americans, and Biden's Build Back Better will make things even worse
www.foxnews.com
Unfortunately, Biden’s late-breaking awareness of our inflation problem did not come packaged with a solution. Instead, tin-eared Biden continues to hype his multitrillion-dollar Build Back Better bill, which he says will help bring prices down.
No, it won’t. And in fact, Biden expressly said so in his muddled remarks. As he expressed shock about the price of gasoline, Biden claimed, "That’s why it’s so important we do everything in our power to stabilize the supply chain…"
Nancy Mace: Economy is in 'shambles' amid rampant inflation, energy concernsVideo
Just for the record, the very real supply chain bottlenecks that are keeping goods from landing in stores have absolutely zip to do with rising gasoline prices. That’s on Joe Biden, who has discouraged U.S. oil and gas investment and also insulted and alienated the most influential person in OPEC, Mohammed bin Salman. OPEC is understandably unmoved by Biden’s pleas for more oil.
Biden also claimed, "At the same time, we’re also experiencing higher demand for goods because wages are up as well as people have money in the bank. And because of the strength of our economic recovery, American families have been able to buy more products."
In other words, consumers are flush, and our recovery is strong. So … what on earth are we doing spending trillions more on Biden’s favored bill? The same could have been argued (and we did) before the $1.9 trillion American Rescue Plan passed in March. We did not need to hype government spending then, and we do not need to do so now.
Democrats would argue that Build Back Better (BBB) is not about infusing the economy with more cash, but instead will tackle long-term problems like expensive child care that is keeping women out of the workforce.
Their solution is to subsidize child care for low-earning Americans, while also boosting wages for people working in that field.
But if you’re a middle-class family that must foot the bills on your own, you’re in trouble. Matt Bruenig, left-leaning president of the People’s Policy Project think tank, says the proposal will jack up child care costs by about $13,000 a year, to almost $29,000. Why? Because BBB demands infant care workers be paid the same as elementary school teachers, increasing wages by 138%.
BBB also purports to make home care for the elderly more affordable, but it is union organizers who are especially excited about the proposal. Mary Kay Henry, International SEIU head, cheers, "We have a chance to turn home care, the fastest-growing job in America, from poverty-wage employment into a good union job." Will that drive costs down? Of course not.
Are media downplaying inflation?Video
Why should this surprise anyone? Any industry that has a heavy government footprint, including education and health care, has seen costs soar way beyond overall inflation over time. Today, over 40% of higher education costs are funded by state and federal coffers; is it any wonder that the cost of attending a four-year college has increased at twice the level of inflation since 1985?
Or take health care, where the federal government accounts for over 40% of spending, and where total spending has increased 50-fold since 1970.
Federal programs are by definition inefficient; that’s the nature of the beast. Add to that Joe Biden’s push to ensure that workers added to provide home care, pre-K and other services be unionized, thus demanding higher pay, and you can rest assured the BBB will not lower inflation. Just the opposite.
Voters rejected Big Government this past Election Day. They should do so again in 2022. I’m guessing they will.
Inflation already hurting Americans, and Biden's Build Back Better will make things even worse
Inflation already hurting Americans, and Biden's Build Back Better will make things even worse
Are you better off than you were two years ago? That’s what Republicans will ask voters a year from now.
www.foxnews.com
Unfortunately, Biden’s late-breaking awareness of our inflation problem did not come packaged with a solution. Instead, tin-eared Biden continues to hype his multitrillion-dollar Build Back Better bill, which he says will help bring prices down.
No, it won’t. And in fact, Biden expressly said so in his muddled remarks. As he expressed shock about the price of gasoline, Biden claimed, "That’s why it’s so important we do everything in our power to stabilize the supply chain…"
Nancy Mace: Economy is in 'shambles' amid rampant inflation, energy concernsVideo
Just for the record, the very real supply chain bottlenecks that are keeping goods from landing in stores have absolutely zip to do with rising gasoline prices. That’s on Joe Biden, who has discouraged U.S. oil and gas investment and also insulted and alienated the most influential person in OPEC, Mohammed bin Salman. OPEC is understandably unmoved by Biden’s pleas for more oil.
Biden also claimed, "At the same time, we’re also experiencing higher demand for goods because wages are up as well as people have money in the bank. And because of the strength of our economic recovery, American families have been able to buy more products."
In other words, consumers are flush, and our recovery is strong. So … what on earth are we doing spending trillions more on Biden’s favored bill? The same could have been argued (and we did) before the $1.9 trillion American Rescue Plan passed in March. We did not need to hype government spending then, and we do not need to do so now.
Democrats would argue that Build Back Better (BBB) is not about infusing the economy with more cash, but instead will tackle long-term problems like expensive child care that is keeping women out of the workforce.
Their solution is to subsidize child care for low-earning Americans, while also boosting wages for people working in that field.
But if you’re a middle-class family that must foot the bills on your own, you’re in trouble. Matt Bruenig, left-leaning president of the People’s Policy Project think tank, says the proposal will jack up child care costs by about $13,000 a year, to almost $29,000. Why? Because BBB demands infant care workers be paid the same as elementary school teachers, increasing wages by 138%.
BBB also purports to make home care for the elderly more affordable, but it is union organizers who are especially excited about the proposal. Mary Kay Henry, International SEIU head, cheers, "We have a chance to turn home care, the fastest-growing job in America, from poverty-wage employment into a good union job." Will that drive costs down? Of course not.
Are media downplaying inflation?Video
Why should this surprise anyone? Any industry that has a heavy government footprint, including education and health care, has seen costs soar way beyond overall inflation over time. Today, over 40% of higher education costs are funded by state and federal coffers; is it any wonder that the cost of attending a four-year college has increased at twice the level of inflation since 1985?
Or take health care, where the federal government accounts for over 40% of spending, and where total spending has increased 50-fold since 1970.
Federal programs are by definition inefficient; that’s the nature of the beast. Add to that Joe Biden’s push to ensure that workers added to provide home care, pre-K and other services be unionized, thus demanding higher pay, and you can rest assured the BBB will not lower inflation. Just the opposite.
Voters rejected Big Government this past Election Day. They should do so again in 2022. I’m guessing they will.
