Biden's economic policy in plain English

[Joinfortmill]

https://heathercoxrichardson.substack.com/p/january-27-2022

Heather Cox Richardson: Letters from an American:

...the U.S. economy grew by an astonishing 6.9 percent annual rate from October to December 2021. ...Despite the ongoing pandemic, this is the fastest full-year growth since 1984. ....At the same time, the U.S. added 6 million jobs in 2021, pegging the unemployment rate below 4%.

Secretary Janet Yellen explained to the World Economic Forum that the Biden administration rejected Republican supply-side economics, ushered in during the Reagan administration. ...we aren’t just focused on achieving a high topline growth number that is unsustainable—we are instead aiming for growth that is inclusive and green.”

[Wounded Bear]

1. A healthy economy needs money at the bottom...

"poor" folks spend their money to survive, and if they have a bit extra they buy luxuries.

When the wealthy horde all the money at the top the economy stagnates, no matter what the "growth" numbers might indicate.

The economy requires money in circulation.

[captain queeg]

2. I have a hard time believing many at lower economic status still buy the trickle down idea.

The rethugs know they can rely on a couple emotional issues to get their votes and they vote against their best interests. There are some who think someday they will be rich too, or the ones who are opposed to inheritance taxes, not even knowing the line is so high they’ll never have to worry about it.

[crickets]

3. K&R for visibility.