Congress is moving toward finalizing a $1 trillion infrastructure bill. Peter Schiff appeared on Newsmax “The Count” with Jenn Pellegrino to talk about the spending spree.
Biden said spending billions on government projects will help America to “build back better.” Politicians have been promising this for decades. But Peter said it’s the wrong approach. We should get government out of the way and let the free market work.
Yesterday, President Joe Biden announced Republicans and Democrats have come up with a $1.2 trillion infrastructure deal. But where is Uncle Sam going to come up with the money? And what does this tell you about the likely trajectory of Federal Reserve monetary policy? Host Mike Maharrey talks about it in this episode of the Friday Gold Wrap podcast. He also discusses the latest talk, talk, talk coming out of the Fed.
Joe Biden unveiled his massive infrastructure spending plan complete with tax increases this week. The president says it will create “opportunities.” But what about the opportunities that will never be realized because Biden and company went on a spending spree with our money? Host Mike Maharrey talks about it in this week’s Friday Gold Wrap podcast, along with the latest precious metals and Fed news.
Joe Biden unveiled details of his $2 trillion-plus infrastructure plan complete with tax hikes. The claim is that this is going to strengthen the economy and create opportunity. Peter broke down the spending plan in his podcast and said it will do the exact opposite. It’s going to weaken the economy and destroy opportunity.
As the GOP tax plan wound its way through Congress, we argued that it is not going to create the kind of economic benefits promised without some reduction in the size and scope of government. We don’t just need tax relief, we need government relief. But there don’t appear to be any serious efforts to cut spending or to reduce the size of the federal government on the horizon. In fact, it looks like D.C. is hurtling in the exact opposite direction. With tax reform in the rearview mirror, Pres. Trump has set his eyes on a federal plan to “fix” America’s infrastructure.
This is a Keynesian boondoggle of epic proportions. And as Ryan McMaken shows in the following article originally published at the Mises Wire, it isn’t even necessary. We don’t need a federal solution to the infrastructure problem. Not for practical purposes. And not to “stimulate” the economy. In fact, the borrowing and money printing that will be necessary to finance whatever plan the politicians in D.C. come up with will compound the country’s economic woes.