Paul Krugman and others are cheering the defeat of inflation (odd since it is on the rise again). But how does our Federal government “grow” the economy and inflation? Borrow and spend, baby!
The Bureau of Economic Analysis just released Q4’s GDP update. The good news? US GDP grew by $334 billion. The bad news? Yellen and Treasury had to borrow $334 in debt to get there. That is a ratio of $2.5 of debt to get $1 of GDP. Only in Washington DC does math like that causes zero consternation. They are all down at the nightclub partying the nights away.
I still want to hear Biden (or any other elected official, Democrat or Republican) to explain to me how the US is going to honor its unfunded liabilities (Social Security, Medicare, etc) which is $664,000 PER CITIZEN. Again, this figure does not included the 8-11 million illegal immigrants who have stormed our borders under Biden. Hey, how about an entry fee for each immigrant of $664,000?
“Billions” Biden loves to spend money along with members of Congress and the Administrative State.
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