At the moment, most Americans are deeply concerned about a faltering economy; massive inflation that hurts the middle class and poor the most; soaring food, gasoline and home energy prices; and an overbearing government that is rapidly eroding personal freedoms for all Americans — not to mention disastrous foreign policy that may be inching us closer to potential nuclear war with Russia, China, Iran or North Korea, you pick. Let’s just further drive up inflation and energy prices, prod Russia and China to war (not to mention the possibility of another phony payoff deal with Iran), do nothing at all for the environment — and celebrate. Is that really a platform on which the Democrats want to run? Now that’s an insult even to lemmings.
To put it in plain English, spending $800 billion more will continue to drive up inflation, pushing it toward 10 percent. Everyone will get hurt with that implicit “tax increase,” lower real wages, and collapsing savings and retirement plans. The Federal Reserve will be forced to take even more drastic action. No amount of rhetoric or political misdirection can change that.
The Democrats are already hemorrhaging Black and Hispanic voters from their core base. This will accelerate it, along with union members and other middle-class Americans. At this stage, if Biden and the Democrats say such economics will work, no one will believe them.