What Jobs, Kamala. What Jobs?

If businesses are “gouging” consumers as Dem pols say rather than our spendthrift government’s induced inflation as most economists say, why is the govt giving such massive subsidies to businesses that haven’t reduced consumers’ inflated costs as promised?

The $64K question was suggested in the WSJ’s “The Biden Manufacturing Boom That Isn’t,” in which we are told “US industry output has been flat for two years, despite huge subsidies.” Of course, “politics” is the answer. For instance, Kamala Harris “is vying for votes in the Midwest by touting the Administration’s efforts to boost US manufacturing … In a recent debate, she boasted about ‘building a clean energy economy’ and ‘investing in American-made products’ … [Yet] … The Institute for Supply Management’s purchasing managers index shows the manufacturing industry as a whole has been in almost continuous contraction since autumn 2022, right after Mr. Bien signed the [pork laden] IRA & Chips Act.” Meanwhile, “investment in new industrial equipment has been notably weaker under Mr. Biden than Donal Trump” suggesting “fewer manufacturers are refurbishing existing plants & investing in technology that will make them more globally competitive.”

The bottom line: Harris’s claim in her debate with Trump is that the “US has created over 800K new manufacturing jobs while I have been VP,” but in reality “almost all were bounce-back from the pandemic.” Since then, bupkis.

Davd Soul