Considering the possibility of a Biden administration, Stephen Moore, an economist and advisor to the president, got very scared.
During Donald Trump’s “first three years in office,” Moore wrote, “real median family income for Americans rose by more than $6,400. In Obama’s EIGHT years in office, the increase in incomes was closer to $4,000.”
Biden seeks to “return to a regulation binge -- in banking, finance, environment, consumer affairs and health care.” If the rumors are true that “Sen. Elizabeth Warren, a leading Biden economic policy adviser and confidant, could be Treasury secretary or regulatory czar,” the nation will be plagued by “entirely carbon emission-free electricity (with a loss of up to 5 million blue-collar jobs) and the strictest financial regulations ever.”
It’s a prospect that America can’t afford. Literally.
The Congressional Budget Office is out with its latest look at federal finances, in the long term, and as Reason put it, the “national debt is expected to hit 107 percent of GDP -- matching the record high set during World War II -- by 2023.” To “merely bring the national debt down to 100 percent of GDP by 2050, the CBO estimates that Congress would have to implement policy changes -- spending cuts, tax increases, or both -- equal to about $730 billion (or 2.9 percent of GDP) by 2025.”
Many states are racing to outpace Washington in fiscal irresponsibility. Blogger P.F. Whalen: “Already one of the highest taxed states in the U.S., California had a reported government debt of over $1.5 trillion as of 2017 -- long before the COVID-19 pandemic hit, and an amount that has surely increased dramatically since. Undeterred, on September 2, state lawmakers sent a budget to Governor Newsom calling for $600 million in spending increases and a reduction in state revenue with the extension of earned income tax credits for immigrants and illegal aliens.”
Under its current “leadership,” look for New Mexico to follow the Golden State’s path to ruin. Not only is the state not moving forward with an aggressive implementation for reopening, there are rumors about that it will move backward. Wednesday saw “the state’s highest number of new COVID-19 cases in nearly a month.” And during a “virtual press conference” this week, the Land of Enchantment’s epidemiologist offered this chilling thought: “The question is … when does it become a point at which you want to further restrict person-to-person interactions?” Plus, there’s the annual arrival of the influenza virus. That’s right -- it’s a “twindemic”! In a beyond-bizarre statement, the man in charge of the New Mexico Human Services Department insisted that if “we’re going to reopen schools safely, it has to include no child going to school with respiratory symptoms, fever, chills, coughs, sore throat, runny stuffy nose, muscle body ache, headache, fatigue, vomiting, diarrhea, shortness of breath, difficulty breathing, new loss of taste or smell -- you know.”
We live in a bizarre time. And things are likely to get a whole lot stranger, when the story of Jeffrey Epstein and his connection to New Mexico and national elites is finally told.
Fasten your seatbelts.