Recommendable! Watch the career of this conservative U.S. Senator from Utah!
Sums it up quite well:
"... The first policy decision cited was the disastrous American Rescue Plan, passed in March 2021. Over $1.9 trillion of borrowed money was thrown into an already overheated economy, fueling the conflagration of inflation we are experiencing today.
Second, the excessive monetary response to the pandemic continued to flood the economy with cheap credit well past the point of necessity. Afraid of letting the markets take the reins, the Federal Reserve pressed the gas pedal on consumer demand by keeping interest rates near 0%.
Through this unrestricted quantitative easing, the Federal Reserve has more than doubled the assets on its balance sheet from $4.2 trillion in March 2020 to $8.9 trillion last month.
Third, while Biden blames hardworking entrepreneurs—the supply side of the economy—for inflation, he fails to take account of the disastrous impact of his onerous government overregulation of the economy.
Due to their economies of scale and the efficiencies of bulk transport for goods, container ports are the backbone of international supply chains. Regrettably, America has some of the most inane rules and regulations regarding how cargo must be carried and transported, due in no small part to the International Longshore and Warehouse Union, which has long fought common industry automation.
Little wonder that we have faced acute supply chain issues or that the Port of Long Beach in California ranked dead last in the 2021 Container Port Performance Index. Stated simply, regulatory incompetence is the main driver of supply chain issues, not market mechanisms or greedy corporations.
In fact, the sheer number of federal regulations that companies are required to abide by has increased from an astounding 400,000 in 1970 to well over 1.1 million by 2021 [Remember President Trump's valiant executive order to require for every new regulation, two existing ones must be rescinded] ...
Lastly, the Biden administration has made it harder for people to earn a living and more difficult to get an education that prepares them for the workforce. ... estimates that as many as 6.3 million workers are missing from the labor force, compared with pre-pandemic trends.
Why might this be? ... found that almost 70% of unemployment benefits claimants received benefits in excess of their normal wages, adjusted for taxation. ... many Americans followed the government’s incentive right out of the labor force.
For the children enduring tanking academics due to school closures and ineffective online alternatives, ... estimates that the average student lost between $61,000 and $82,000 in lifetime earnings, with even worse outcomes for black and Hispanic students.
Vital skills, both social and technical, lost due to school closures will haunt these children well into their adult careers. ..."
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