Posted BY: J. Robert Smith
Last weekend, Democrats passed yet another piece of Orwellian tripe. The nation’s ruin is ongoing, by incompetence and design. Get this: it’s called the “Inflation Reduction Act,” which is about spending three-quarters of a trillion dollars and raising taxes. This is happening at the outset of a recession. Didn’t momma tell these Democrats that jacking up spending and hiking taxes only makes recessions — and inflation — worse? Have Democrats heard about stagflation? But Democrats don’t listen to momma. They take as gospel the “New Monetary Theory,” which is an intellectualized ruse to spend like teenagers on spring break.
Worse still, Uncle Sam can’t ever tax rich people enough to cover all the spending. So, Sam intends to prowl for more money from working- and middle-class folk. And when that fails, there’s always more debt.
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Since Uncle Sam’s credit cards have no limits, he’s spent with gleeful abandon for more years than we care to count. The nation is only $30 trillion in debt and growing. What’s a paltry $750 billion atop all the other spending spacey Joe Biden has signed into law?
And when Sam can’t scratch up enough new taxes from average folk, why not strongarm the Federal Reserve’s savants to crank up the printing presses? And, for heaven’s sake, make them stop the incremental interest rate hikes. Never get in the way of spending binges.