Most of the reporting on the Biden extravagant spending bills suggest that Democrats will be hurt in the 2022 midterm elections if they do not pass the $1 trillion physical Infrastructure Bill and at least a $2 trillion social welfare bill – inappropriately named the “Build Back Better” Bill.
There is a legitimate argument that the nation NEEDS the trillion-dollar Infrastructure Bill to address bridges, highways, tertiary treatment plants, broadband access and other physical infrastructure. That is why it has bipartisan support.
The social welfare bill is NOT NEEDED. Oh, it is filled with a lot of things folks would like to have – basically more money from Uncle Sam, directly and indirectly. Democrats do not seem to understand that no matter the universal desire and benefit of having more money – or more “free” services — there is an economic limit to what America can safely spend.
There is no need to use federal (taxpayer) dollars to stimulate the economy. That was necessary when the economy was tanking because of the Covid Pandemic. In retrospect, we may have shut down the economy too much – but regardless, we have over-stimulated it with Trump’s last influx of money and way too much with Biden’s totally unnecessary $2 trillion dollar package passed in March.
Stimulating the economy with more dollars at this time – whether they are called stimulant dollars or welfare programs – WILL fuel inflation. It already has. Progressive economists say it is only temporary. Maybe. Maybe not. But there is no doubt that the trillions upon trillions of additional monies flowing into the economy WILL trigger serious inflation for a prolonged period.
Lack of workers and supply-chain issues are already creating an inflationary imbalance between a large number of dollars chasing fewer goods and services. That is called “inflation.” Since inflation impacts on many other goods and services. Gas prices, for example. The 22 percent surge in the cost of raw cotton will drive up fabric prices across the board – clothing, bedding, bandages, towels, etc.
The rental on those ship-board containers that bring us almost everything we buy in our local stores has shot up from $6000 in January to more than $30,000 today. That means we pay more for anything produced overseas – from toys for Christmas to parts for our U.S. auto production.
The Democrats have a conundrum. They have lots of voters who have bought into the bogus left-wing sales pitch. You know, the Biden spending is all paid for. The people NEED every penny of this money. Only the rich and corporations will pay. It will not cost the middle and lower classes anything. It will not cause inflation. These are all BIG LIES.
Those folks who believe that crap are going to be very upset if the Democrats DO NOT enact the Biden agenda.
On the other hand, there are a lot of folks who are not so gullible. They understand the negative impact of excessive government spending – inflation, deficits, increases in the National Debt, and higher taxes – direct and indirect (thinking of the tax on corporations which the consumer ultimately pays}.
Those folks are going to be very upset if the Democrats DO enact the Biden agenda.
The hardcore Democrat progressive base will stick with Democrats If they pass the legislation. The hardcore Republican base will not. It is the critical independent voter and the partisan “leaners” that makes all the difference in the world – at this point they are evenly split. But the majority had been in the Democrats camp and have shifted to the right. That is seen in Biden’s favorable rating, which has plummeted to under 40 percent.
Biden and the Democrats will need a clear win on the economy to survive the 2022 midterm elections. Biden is underwater on the immigration issue. He is underwater on the crime issue. He is underwater in Afghanistan. AND he is currently underwater on the economy.
History and the current trends are against the Democrats in 2022. Most pundits believe the Republicans will take control of the House – and the Senate is not out of reach. Despite the outcome of the 2020 presidential election, Republicans did extremely well at the congressional and state levels. The New York Times recently did an article indicating that the small-town industrial base in such critical battleground states as Wisconsin and Michigan –which supported President Obama – continue to move to the advantage of the Republicans.
With Biden’s polling numbers tanking, it is difficult to see where his come-back opportunities may be. That is why the left-wing media are going to such extremes to beat up on the Republican Party and demonize Republican leaders and the millions of Republican voters. But that message is starting to wear thin.
The Democrats have every reason to be worried. It appears that they will be damned if they fail to pass the Biden legislation and damned if they do not. For the sake of the country, we can only hope they do not – and that their fiscal insanity can be put on permanent hold after the 2022 midterm elections..
So, there ‘tis,