Beginning with Obama and accelerating under Biden, our economy has been secretly reordered from a capitalist system to a Command Economy. Classically, a Command Economy, a.k.a a fascist economy, includes price and wage controls. But, by intentionally creating massive inflation for Americans and instituting enormous subsidies to specific industries, the government, under the guise of protecting the environment and fixing social wrongs, has reordered the economy and changed the fundamental dynamics that have governed us since our founding. Our economy has taken on the trappings of former failed countries like pre-war fascist Germany and socialist Great Britain immediately after WWII when PM Churchill was shown the door.
Many believe that the far left of his party controls Biden. What is less understood is the permanent damage created in the wake of historic congressional bills passed in conjunction with myriad Executive Orders that continue to devastate individual Americans both economically and socially.
The consequential congressional bills that have moved our country far from our core principles. Bidenâs legislation, passed with little or no Republican support, has obligated a collective $4.3 trillion on:
- The $1.9 trillion American Rescue Plan. This provided $1,400 payments to almost all Americans. Biden also extended a $ 300-a-week federal unemployment benefit for some 9.7 million people who were out of work at the time due to COVID. He expanded the child tax credit program. In addition, he allotted $7.25 billion for small business loans and $128 billion in grants for state educational agencies that were not teaching children at the time. More billions have been allocated for mass transit and local and state projects that further climate change objectives. Hundreds of billions of this money remain unspent, with bureaucrats still frantically trying to spend or lose it.
- The $1 trillion Infrastructure bill. This spends tens of billions on Climate Change infrastructure and dozens of boondoggle projects that favor select private companies. With this billâs extension into what was traditionally private investment, we continue the slide to an economy called Crony Capitalism.
- The $280 billion CHIPS Act. This act, passed in August, allocated $53 billion in federal funding to manufacture semiconductor chips in the U.S. instead of relying on China to produce them. Thus, highly profitable companies like Intel, AMD, NVIDIA, and even foreign companies, will spare their stockholders the costs of infrastructure investments.
- The $1.2 trillion Inflation Reduction Act. This funds Bidenâs ambitious social and climate policies and his vision to raise taxes on the rich. The legislation includes significant spending (subsidies) on health care and prescription drugs, climate change initiatives, and taxing corporations, plus $80 billion in new monies for the IRS. According to McKinsey and Company, 46.4% is to be spent on âEnvironmentalâ issues, code for Climate Change.
The above are mind-numbing numbers, more money than any human can conceive.