I knw that I could post this in other threads, but I will do so here.
The US Congress again waits UNTIL A CRISES moment to act on very important matters of Federal Budget and the US Economy. This shows the:
1) stupidity and incompetence of our elected so-call "leaders" who are more concerned with perceptions and on getting re-elected.
2) the impacts of the divisiveness and polarization of American Politics. We cannot sit and talk and work out COMPROMISE and we need to use a CRISES and DEADLINES to get things done.
3) the American public is complicit in that they tend to elect partisans and not those who take a more pragmatic and level-headed persons who think that a balanced budget is more important than PORK in the budget that benefits their local community. Fewer politicians are elected whose main concern is the country as a whole. as the UNITED STATES of America, the USA. They often elect RABID partisans and extremists like Rashida Harbi Tlaib and Marjorie Taylor Greene
4) The Crises is the RISK of defaulting on the US DEBT, A HUGE matter. The consequence RISKS the ENTIRE US Economy and the stupid politicians are letting this happen. They cannot work out a budget or even parts of a budget. We have used continuing resolutions to fund major parts of the budget because politicians cannot sit down long enough to TALK and work out a compromise.
5) We in the USA and in the US Congress are playing with fire. To default on the Federal Budget will really harm the USA. The impacts of such inaction will be horrific on interest rates, the stock market, and payments on the debt. The house of cards, built on top of massive budget deficits, the printing of money, and the MASSIVE spending by deficits by ALL politicians, Republicans and Trump included. The liberal Democrats now controlling the House are showing their lack of comprehension of basic Economics. You cannot keep spending like "drunken sailors" forever and not face serious repercussions.
6) I think Duk said it another thread about the deficit spending tendencies of US Presidents since George W. Bush (the son, #43).
https://www.conquerclub.com/forum/viewtopic.php?f=8&t=235377&start=275See also:
https://www.conquerclub.com/forum/viewtopic.php?f=8&t=235856&hilit=infrastructure&start=257) In that same thread, it was discussed that President Clinton was the last POTUS to have a balanced budget. What I think occurred is that the budget deals worked out by the presidential aide (to President George H. W. Bush, the father, #41) Richard Darman, caused the need to raise taxes and then President Bush had to go back on his word to NOT raise taxes. Most of the benefits to the Budget and the Economy would not come to FRUITION until years later and President Clinton benefits from those deals and get credit for balancing the budget. The foundation for ALL that was laid down years earlier under President Bush.
8 ) Biden buries these points about his LARGE BILL ($3.5 Trillion, I THINK, as I have yet to read at this website the final price tag)
Upgrade child care facilities and build new supply in high need areas. Lack of access to child care makes it harder for parents, especially mothers, to fully participate in the workforce. In areas with the greatest shortage of child care slots, women’s labor force participation is about three percentage points less than in areas with a high capacity of child care slots, hurting families and hindering U.S. growth and competitiveness. President Biden is calling on Congress to provide $25 billion to help upgrade child care facilities and increase the supply of child care in areas that need it most
https://www.whitehouse.gov/briefing-room/statements-releases/2021/03/31/fact-sheet-the-american-jobs-plan/Liberal Democrats want to now make Child-Care a basic RIGHT funded by the Federal Government. OF COURSE we have SO MUCH MONEY to spend on such things. The consequence is that my daughter has to pay for the childcare of her daughter AND the childcare of others. And this will be PAID by her and her daughter for years as INTEREST on the added deficit. Biden CLAIMS this will be paid by ONLY Wealthy Americans and corporate taxes. This is UNLIKELY; this is merely political rhetoric. The actual result will be paid by mostly middle-class folks like I am and like my children are.
9) from the same source above:
Establish the United States as a leader in climate science, innovation, and R&D. The President is calling on Congress to invest $35 billion in the full range of solutions needed to achieve technology breakthroughs that address the climate crisis and position America as the global leader in clean energy technology and clean energy jobs. This includes launching ARPA-C to develop new methods for reducing emissions and building climate resilience, as well as expanding across-the-board funding for climate research. In addition to a $5 billion increase in funding for other climate-focused research, his plan will invest $15 billion in demonstration projects for climate R&D priorities, including utility-scale energy storage, carbon capture and storage, hydrogen, advanced nuclear, rare earth element separations, floating offshore wind, biofuel/bioproducts, quantum computing, and electric vehicles, as well as strengthening U.S. technological leadership in these areas in global markets.
10) I got to the end of the White House document (references above) and find no discussion of how to fund ALL this. Yes, there is discussion of closing "loopholes" in corporate taxes. Maybe I missed where there are numbers and actual mechanism to raise funds (taxes) to pay for ALL THIS SOCIAL Spending. What I read in a cursory manner does not meet my definition of a real plan to PAY for ALL THIS SPENDING on social engineering and/or social welfare.
11) Raising corporate taxes means that in actuality that corporations will raise prices for their goods and services and that is how they pay the increased corporate taxes. BOTTOM LINE: the middle class pays for a HUGE tax increase.