On January 4, 1965, President Lyndon Baines Johnson heralded his Great Society. He celebrated government spending.
WASHINGTON, DC - MARCH 01: President Joe Biden, flanked by Vice President Kamala Harris, delivers his State of the Union address to a joint session of Congress on Capitol Hill on Tuesday, March 01, 2022 in Washington, DC. n January 4, 1965, President Lyndon Baines Johnson heralded his Great Society. He celebrated government spending.
But LBJ gave the country a guns-and-butter economy. His policies entrenched the twin culture of poverty and dependency. The culture of poverty and dependency drives out-of-wedlock births, which is in the United States. His reckless spending led to a lost decade of high interest rates, elevated unemployment, and stagflation.will deliver his State of the Union address. He will brag about the January employment report. According to the Bureau of Labor Statistics, 517,000 jobs were created in January. The unemployment rate fell to 3.4%, the lowest since 1969. Biden will tout job creation and the low unemployment rate, but he will ignore high inflation.
In February 2021, Professor Larry Summers warned that the American Rescue Plan was too big and would lead to high inflation. Summers was right. According to Professor Jason Furman, former adviser to President Obama, the underlying rate of inflation isWage inflation is running at similar levels. Wages and prices converge. The very tight labor market will make it extremely difficult for the Federal Reserve to reach its 2% inflation target without further tightening.
than infrastructure projects in any other major city of the world. He won't tell the truth: unions are a cartel. They reduce employment and harm growth.. That Act is good policy. The U.S. is almost totally dependent on Taiwan fabrication facilities for the most advanced semiconductors. U.S. national security requires that advanced fabrication facilities be located in the U.S. But Biden won’t explain that the U.S.
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