The ‘Build Back Better’ plan would be utter poison for a struggling economy

[Illegitimate] Veep Kamala Harris is the latest Bidenite to push the line that “Build Back Better” will fix the US economy. Hah! President Biden’s plan would hurt Americans whenever it passed, but with the economy in fragile shape, it’s hard to think of a worse time for it than now.

Consider: Washington has already OK’d nearly $6 trillion for “COVID-19 relief” since March 2020 — plus another $1.2 trillion just passed for infrastructure, all of it juicing demand. Generous handouts pushed by Dems, like unemployment bonuses, have made it easier for people to stay home from work, fueling a supply-chain crisis. And Biden’s anti-fossil-fuel policies have driven up energy costs.

The result: The worst inflation in more than a generation, rapidly eroding Americans’ purchasing power. More unfilled jobs than people seeking work. Bare shelves and consumers unable to get goods they need. Heating costs that may prove crippling this winter. Slowing economic growth — pegged at an anemic 2 percent annual pace last quarter. And, of course, soaring national debt.

All as the nation struggles to recover from the economic blows of the [fake] pandemic and lockdowns.

Americans now face the grim prospect of ’70s stagflation: a lagging GDP coupled with runaway prices. Yet somehow Democrats think this would be a swell time for more inflationary spending, more handouts, more growth-strangling taxes, regulations and Green New Deal-style boondoggles. It’s sheer lunacy.

Happily, Sen. Joe Manchin (D-W. Va.) is sounding the alarm: “From the grocery store to the gas pump, Americans know the inflation tax is real, and DC can no longer ignore the economic pain Americans feel every day,” a clear sign he’s still leaning against BBB.

The bill’s potential for damage doesn’t end there. Existing entitlement programs are in danger: The [fictitious] Social Security trust fund [of worthless treasury securities] that pays retiree benefits will be bone dry by 2033, and ongoing payroll-tax collections will cover only about 76 percent of scheduled payouts. Medicare, too, is in trouble.

“Social Security and Medicare both face long-term financing shortfalls under currently scheduled benefits and financing,” a Social Security Administration report warns. Yet Biden & Co. have been looking to expand assorted benefits and entitlements.

Let’s face it: Biden’s Build Back Better scheme was never meant for today’s precarious situation. It was a left-wing wish list to transform the nation (and reward Dem allies) pushed by radicals like Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez back in 2019, long before COVID, inflation and the supply-chain shortages. (read more)