Posted on 05/18/2021 8:57:40 AM PDT by Kaslin
With the White House on Monday reminding Americans that families would start receiving direct cash payments starting in July, President Joe Biden’s financial assault on the workforce is set for an alarming expansion. The federal government will start sending families direct cash payments of $300 per child under six years old and $250 to those between seven and eighteen. While this might seem to be a good thing, it is guaranteed to have five very negative effects.
Increasing inflation which is already going through the roof at more than doubling since Biden became president to 4.2 percent will continue to skyrocket as too many dollars chasing too few goods. Inflation is simple to understand, the cost of goods goes up faster than wages can keep up, meaning the harder you work, the farther you fall behind.
The payments without work provide further disincentives for people who are currently sidelined receiving extended unemployment benefits which far exceed what the market dictates their labor is worth will keep even more people sidelined at the exact time the economic reopening should be generating millions of job opportunities. The Biden administration is deliberately creating a government induced labor shortage to artificially drive wages. The net result when people get paid lots of money not to work is that they won’t unless wages go higher. And when the wages are driven artificially higher, the price of the goods and services provided must go up to cover those costs exacerbating a weak dollar inflationary policy at the Federal Reserve.
When the federal government is spending billions that it doesn’t have, the national debt continues to skyrocket. These types of payments could be accepted in 2020 when businesses were shuttered by the government in reaction to the pandemic and people were thrown out of work, but at a time when the economy is in robust recovery, the helicopter money will stall that recovery. The Biden team was handed an economy that was bursting at the seams in recovery and all they needed to do was not mess it up. Now we have rampant and growing inflation, job growth stalling and the challenge of refinancing and rolling over our national debt in an unstable inflation environment which will drive the interest payments that the US taxpayer owes on almost $30 trillion in debt higher. The best course of action is for the federal government to recognize that the emergency is over and to quit spending, but they won’t because the left is trying to create an expectation of government support in the middle and upper middle classes, expanding the welfare state to those who never wanted to be part of it.
Finally, this government dependency is like a drug addiction. Some can take drugs and stop whenever they want, but others get hooked and have the fight of their lives to kick the habit with all too any people losing the battle for their lives. With drugs, one finds themselves in a downward spiral of despair where only the next hit matters. With government dependency, you find yourself losing the hope, confidence, and expectation of achieving the unique things that you were put on earth to do, and instead become convinced that you cannot succeed on your own without an unearned check every month. What’s more, the skills to thrive in the workplace erode rapidly, meaning the longer one is out of a job, the harder it is for them to succeed once they get one. A downward spiral of despair as confidence is lost and hope fades.
It is time for Americans to demand fiscal restraint out of D.C., the crisis is over, and now the real emergency is the federal government’s refusal to declare victory and stop spending.
Working as intended.
So? It will also fuel hyperinflation.
It’s clear that we have finally reached this point: Who is John Galt?
This discriminates against people without kids. We just get stuck paying the bills.
I seem to remember a certain icon of the Democratic Party who once said, “Government must stop this business of relief.”
The minute the “free” money stops flowing, here will be big trouble.
Remember a few years ago when the EBT card system was shut off when a major computer system problem made the debiting system unavailable all day? Anger, fury, all kinds of trouble often at the point of payment (store, checkout line, gas station).
Computer failure temporarily halts some food stamp payments .....
Oct 14, 2013 — A system shutdown began at 11 a.m. ET Saturday and affected 17 states, said a spokeswoman for Xerox – which is a contractor for the program.(several articles, this from CNN)
Well, for us more creative and independent people, It is an opportunity to buy more guns and ammo.
RE: If you can’t afford it
You advocated equivalency between a guy suffering from dementia and strange sexual proclivities and one of the few in Washington who took actions in the judicial branch that demonstrated he seriously regarded his oath to support and defend the Constitution. Now you complain the victor of behaving according to type and offering unlimited free stuff, which precludes attention to matters of eternity and promotes the demise of a vanishing republic.
The classical Christian faith you profess invigorated the Enlightenment and resulted in a Constitution promising the intangible, natural freedoms of life, liberty, and pursuit of happiness. The intension of convention delegates was never material comfort, but instead spiritual advancement as individuals created, encouraged, explored, built, cooperated, served and/or taught, and became heroic, while pursuing a new life.
If anyone deserves the label of heretic it is you for ignoring a government originally intended to prosper individual sovereignty and self-worth as a way to recognize the inestimable value the Lord assigns to each person.
Good insight. Applies to my wife and me.
Notice ALL the talk every year of "this tax benefit for the average husband and wife with two children" but omits "and actually taxes are going up for those without children and certain other categories...."
I am painfully reminded of this every year at income tax time, and many times a year for property tax time.
“A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largess out of the public treasury.
After that, the majority always votes for the candidate promising the most benefits with the result the democracy collapses because of the loose fiscal policy ensuing, always to be followed by a dictatorship, then a monarchy.”-Alexander Fraser Tytler
The only things holding this country together are Welfare and Cable.
If either one fails, it’s on.
I have a rock pile that I self identify as my children
At least I get half a deduction now for being old...Say, why don’t old people on fixed incomes and homeless veterans get $250 a month too?? They have contributed far more than a 2 year old tax deduction.
Great joke.
The Democrats, like President Trump, are trying to avoid an economic crash.
Many assets are way overpriced.
What can’t be controlled from DC is the dollar’s foreign exchange rates. It is what the US asset price is in yuan and Euros that matters.
Keeping them on the plantation for their Masters.
The funny thing is that even with all these child tax credits the birth rate is still declining.
I have six kids under 18 so I get a lot of money from these programs. However I wonder how much debt my kids will be saddled with and how much economic opportunity is lost. By trying to buy votes both political parties are responsible for it.
Yep...today’s bread and circuses.
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