Kyle Kulinksi wanted to spend like $10 trillion.
I remember the happy talk on Breaking Points in early 2021. Joe Biden was getting “shots in arms” ahead of Hot Vax Summer. Inflation was due to lingering global supply chain issues which would shortly resolve. The economy was going to be roaring by the fall and lift Democrats in the midterms.
“In the midst of a critical runoff campaign that would determine control of the Senate, the Rev. Raphael Warnock promised Georgia voters that, if elected, he would help President-elect Biden send checks to people digging out of the pandemic recession.
Mr. Warnock won. Democrats delivered payments of up to $1,400 per person.
But this year, as Mr. Warnock is locked in a tight re-election campaign, he barely talks about those checks. …”
For the record, I supported the $1,400 checks. I was so furious with the deficit hawks at the time that I even endorsed Warnock and Ossoff and hoped Democrats would take the Senate.
I remember saying at the time that I was worried that spending all of this money WITHOUT RAISING TAXES would just ignite inflation and exacerbate class divisions instead of redistributing wealth from those who have too much to those who have too little. In the end, Democrats had the votes to spend the money, but didn’t have the votes to raise taxes to pay for it, which is what brought us to where we are today. Democrats are incapable of taxing their affluent PMC base which controls the party.
Ron Johnson and the deficit hawks were right to object to excessive COVID spending. If I could do it all over again, I would have rather gotten nothing from Joe Biden than to have spent the last two years giving it all back and then some through inflation and high gas prices.