Poor President Biden, what he thinks to be good for the nation turns out to be bad. I’ll say one thing for him; he is able to keep a stiff upper lip. Everybody but Joe knew his spending $4.6 trillion was going to be bad, and that has been correct
President Biden’s judgment on what causes inflation is worse for America than anything his predecessor did in office, or afterwards. Biden is the most self-serving President in history. His fingerprints are all over the delay in letting Powell begin interest rises too soon after 5 trillion was spent.
Economics deals with human actions. Adam Smith introduced the idea that the butcher does not depend for bread on his table as a gift from the baker. What Smith wanted to have understood is that the baker makes bread for the purpose of selling it to those who would buy it; likewise, the butcher and … Continue reading The Reality of Public Choice Economics and Government Waste
Congress is not capable of using Economics to improve pubic policy; only identity politics and voters matter.