Joe’s Waterloo His Own Public Check Bk?

Is the “Moral Hazard of Joe Biden’s Presidency” that he’s “willing to bail out, backstop, guarantee & subsidize just about everything from SVB to student-loan debt”? Don’t progressives like Joe think everyone’s a victim forever?

As the WSJ’s Dan Henninger recently opined: “It’s one thing to bail out a bank or two to stop a financial panic. But the clear intention of the mandarins in the Biden White House is to eliminate the risk of all government obligations past & future.” If so, “Joe Biden’s bailout presidency is eroding discipline’s useful function across the economy and culture. Once established, the bailout queue will be endless …”

Don’t even start with the projected insolvency of Social Security or Medicare. Less sexy if more immediate cases in Henninger’s point? Big city transit systems are experiencing drastic ridership declines, pandemic or no. Think how mayors in such blue strongholds as NY, SF, Philly & Chicago are surely going to go to DC with hat in hand for more you know what. Ditto the long-bloated urban, education & healthcare systems that “are also teetering, squeezed by the pandemic, higher-wage settlements with striking teachers or nurses and steady urban population losses.” Is Joe’s largess with taxpayer dollars, despite an already horrendous $31.7 trillion national debt, going to get uglier … before it gets even uglier? How does the 'ol Stonewall Jackson song go? "Waterloo, Waterloo. Where will you meet your Waterloo? Every puppy has its day, everybody has to pay. Everybody has to meet his Waterloo."

Davd Soul