Biden to propose $6T budget, increasing spending to highest level since WWII(thehill.com)
thehill.com
Biden to propose $6T budget, increasing spending to highest level since WWII
https://thehill.com/homenews/administration/555670-biden-to-propose-6t-budget
3 comments
There is a valid point to doing this. A huge amount of $$ was sucked out of the economy by the pandemic. True, there were some payments - uneven and spotty and some was sucked to crooks and some to apparently valid businesses/people.
I look at the "washed out road" concept - until traffic can pass it will all back up. You must fill the hole with sand and gravel and traffic resumes.
Of course, the hole is the broad sweep of the economy, and the sand/gravel is cash.
Once traffic resumes pent up traffic will surge, and a huge economic resumption will get quickly under way.
This resumption will create the usual economic multiple of cash flows - wages, raw materials etc etc. and taxes collected will surge and afre a couple of years all will be getting back to normal.
You can not be a miser now - the hole MUST be filled...
Not sure I agree with this due to the cause of the dip (willful) and the current inflation we're seeing.
I hope you're right.
I hope you're right.
There is a huge aspect linked to online buying, but there has been a huge amount of people pissed off by the online fraud and mispurchased Chinese crap made of Chinesium they had to toss out(r/Chinesium). Now all container freight is surcharged a huge amount. A rebirth of US stuff and an aversion to Chinesium will occur. Soon Chinese will quality up their supply chain to make better quality stuff and Chinese will enter a depression and act to down buffer the US inflation.