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Welcome To Biden’s Grand Illusion Of Prosperity

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Posted By: RockyTCB, 8/10/2023 6:40:38 AM

"You know, if you let me write $200 billion worth of hot checks every year, I could give you an illusion of prosperity, too.” That was then-Democratic Sen. Lloyd Bentsen back in 1988 arguing that the Reagan boom was a myth because it was bought and paid for with deficit spending, then running about $200 billion a year. What would Bentsen say today about an economy that – instead of blasting ahead at more than 4% a year at it was in 1988 – is barely eking out gains and appears headed to a downturn … despite the fact that President Joe

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Reply 1 - Posted by: Clinger 8/10/2023 7:58:38 AM (No. 1531571)
There's a sure fire way to assure a steady growth in GDP and job "creation" that provides a way to proclaim victory and coin a new catch phrase like Brandonomics. Step 1: crash a good economy with the iron boot of government. Step 2: Print a crapload of money devaluing everybody's wealth except those to whom you hand the newly printed cash. Step 3, pause step 2 and if necessary ease up a bit on step 1. Step 4, do nothing, people will pick themselves up dust themselves off, make adjustments and the economy will grow slowly all by itself from completely crashed to just lousy, no where near the pre step 1 good economy but better that where it was. Step 5, proclaim victory for steady economic growth and low unemployment. This is exactly what happened with Obama and exactly what happened with Biden. And in both cases the initial phase began under the republican who preceded them, Bush and Trump.
1 person likes this.

Reply 2 - Posted by: FJB 2022 23 24 8/10/2023 8:09:44 AM (No. 1531589)
It's Biden's delusion! He ain't fooling nobody, illusion or not!
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Reply 3 - Posted by: Strike3 8/10/2023 8:57:45 AM (No. 1531621)
Reagan used the money to build up America and tear down the Berlin Wall, the major symbol of communist power and presence in Europe. Biden is wasting all of our money on Rainbows, Unicorns and Green Fantasy that has failure written all over it. Yes, George W. Bush started unwise wars in the Middle East and let the military complex push America into thinking that bin Laden was worth more American blood and we now know that. Trump's presidency has nothing to do with Biden's failures. Democrat cheating and resulting unconstitutional conduct are to blame.
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Reply 4 - Posted by: DVC 8/10/2023 12:34:17 PM (No. 1531825)
"You'll have nothing and like it."
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