Joe’s Spending Scary ‘Nuf 2 Knock Socks Off Econ 101?

The cruel laws of economics can be a bitch if you’re unemployed or a recipient of one of Uncle Sam’s many entitlements. So suggests two recent WSJ articles titled, “Unemployment Rolls Shrink Faster in States Cutting Aid” and “It’s the Entitlements, Stupid.”

The first article, of course, was an obviously predictable result of Congress paying those laid-off during the pandemic more money than they would have gotten had they gotten another job; states were given the power to decide whether to do that and the fiscally-responsible ones are reporting that sudden & expected return to work mania within their borders. The second WSJ piles on by warning that “the guaranteed nature of Biden’s [proposal to spend $4 trillion on a radical progressive wish list] is the real threat to America’s economic future.”

As the WSJ argued: “Tax increases can be repealed by a future Congress. Spending on infrastructure [alone] will slow as funding falls. The courts may block his racial preferences. But entitlements that spend automatically based on eligibility [as Joe insists] are nearly impossible to repeal, or even reform, and they represent a huge tax-and-spend wedge far into the future.” Jus’ a scary thought, no?

Davd Soul