When 2 + 2 = 4,000, we might just be in trouble
It's important to pay attention to financial reality. I see a red flag raised when grocery store prices rise precipitously. Inflation is rapidly escalating. Look at the Weimar Republic, where hyperinflation required wheelbarrows of money to buy bread. Biden's policies could precipitate a similar mess.
We already had a large national debt when COVID hit, but the country was in good shape, and the ratio of debt to GDP was dropping. We were experiencing an economic renaissance. We were producing and growing and manufacturing, right here, not overseas. America First was working. We had the energy sector screaming along (no more buying oil from the Middle East). We had record low unemployment, and our economy was roaring, thanks to Trump's policies.
Our economy shrank, and our debt grew exponentially due to COVID. Many of the remaining small business–owners are trying to come back to life as the sanctions against them are lifted (yes, sanctions). We've also "stimulated" our economy by offering government largesse to those given no choice but to shut down. This defines socialism, with the government paying you for what you don't (aren't allowed to, in this case) produce.
If Biden's tax hikes pass, millions more will lose jobs and businesses, right when prices are rising. Add the enormous "stimulus" bill, and more job loss will result as money is funneled to crony states and projects, rather than mythical shovel-ready jobs (remember Obama's shovel-ready jobs?). All you have to do is watch the Fox coverage of out-of-work union pipeline workers in Arkansas, and the help they are getting from Biden, to see what's to come.
The Biden administration is showing no sign that they want to end pandemic status. In fact, shipping tens of thousands of COVID-exposed aliens throughout the country could cause a resurgence. Is that what Democrats want? The administration created the chaos at the border and is spending $60 million a week of our tax money dealing with the mess. Nobody talks about "immigrants" spreading COVID, but it's like fertilizing a garden. You spread the stuff around, everywhere, and it does its job.
Interest on our national debt sucks up lots of our federal budget (it was 7.9% in 2018, and we've added ten trillion in debt since then). Keep in mind that it's been forecast that the 2021 deficit (definition: the money we spend that we don't actually have coming in) is going to be more than our gross domestic product (GDP) for the year. Think about that. If you or I amassed a million dollars in credit card debt on a $60K salary, we'd be in some trouble — the type of trouble where you have a locked cell door to keep you from doing it again.
The amount of money our government is printing is so huge, there's no hope they can tax us enough to equal it, ever. Remember when we derided Greece for bankrupting herself? That is exactly what we're doing right now. We are bankrupting our country. There will be consequences socially, politically, societally, and in keeping our place in the world order. If we didn't have the dollar as the world's reserve currency (e.g., you purchase a barrel of oil in dollars, not dinars), backed by the full faith and credit of the U.S. government, we'd be in even more trouble. China and Europe would both like to see that change. Ruining our own economy could give them justification.
On a more personalized level, say you're living on earnings, or money you saved, invested over a lifetime. What you have will be worth far less. If that loaf of bread in the store goes from $5 to $50, but you're still earning the same amount you did before, how do you eat? If you've got a job, you can go to the boss and ask to be paid more, but where does that money come from? He's paying more for the supplies he needs, for the rent, for gas, for food, too.
Do you see what's happening? Suddenly, we have an economy where we can't afford to live the same life we did. Where what we have, if we've saved it, becomes worthless. This is what happened in Venezuela under the socialist Maduro regime. It once was the most solvent country in South America, with a roaring, oil-based economy, and now people are reduced to using currency for toilet paper.
Remember the level, socialist playing field the far lefties yearn for? They'll have created it. If your money is worthless, you, like the hapless minimum wage worker, will be dependent on the government for whatever it chooses to dole out. Note, however, that government is the most inefficient of creatures. It may not dole out enough to keep you from starving.
That is what happens when socialists take over.
Image: America's food future. YouTube screen grab.
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