ClaireH
Diamond Member
Thank you for the thoughtful reply. You appear well-versed in economic policy. I took ECON 101/102 with better understanding of macro than micro.Here is the problem, and it has happened time and time again. I mean you can take it back to the 1950's, but lets keep it more contemporary. Clinton and Obama both kicked ass when it comes to stimulating the economy. Clinton actually ran a surplus for a while, and he retired all the 30 year Treasuries and replaced them with shorter term, and lower interest rate, bonds. I mean I don't know if you remember the Gore v. Bush election, but one of the critical issues was what the government was going to do with its budget surplus. Gore was going to do like Clinton, pay down that deficit. But Bush, well he was going to "give it back" to the American people. Those magic taxcuts, you know, the ones that don't cost anything because the taxcut fairy will show up and government income will increase. A damn fairy tale from hell when marginal tax rates are already low. I mean if they are north of 70%, like under Kennedy, then yeah, maybe so. But at rates less than 40%, no way in hell. And I would be happy to show how Reagan found that out within the first two years of his first term. Mostly because I worked for the OMB and was screaming it wasn't going to work from the getgo.
But that is the thing. If some miracle prevailed, Biden got all his legislation passed, we borrowed more money and INVESTED, I mean most Republicans are all about "investing", except when it comes to the government. But if we invested all that money, borrowed on the cheap, and expanded the frontier curve---basic Macroeconomics 101, it will result in increased revenue. But then some slick talking, bought and bossed Republican, Joe Manchin comes to mind, will stroll in and promise those magic fairy tale taxcuts and BAM, we will be right back where we started, IF WE ARE LUCKY. What history as shown is that we will seeing increasing deficits.
I mean it is so obvious for anyone with any real Economics training. But that is a lost art, destroyed by organizations like the Koch brothers, But then, that is another story. Everyone often bitches about Hitler, and yes, his social policies were an abomination. But his economic policies, they provided real dividends for the German people. To this very day, some of his public works projects still provide dividends to the German people. That is what we could do, if Republicans were not so bought and bossed by the corporations and the elite and would put this country first, above their own desire for continued power. But you don't have to turn to Hitler. You can look no further than Franklin Roosevelt and the CCC, to find public works projects that, even today, almost a century later, still provide increased economic efficiencies that have expanded that frontier curve. Like the Outer Banks of North Carolina.
Long term matters more than short term waste. Multiple short term thinking products (outdated within next 5 to 8 years) do not take into account the continuing boom of technology. These short-term ideas need to be canned where they belong. The huge investment in charging stations will not pay off. In theory, legislation should fit our reality, our current reality, not five years back. At the same time the charging station is considered a “great improvement” soon out will be better improvements, nothing like what they have now (any public awe will be quickly redirected) and will be far superior. It is a valid claim to say that numerous (too many too count) green products that are not in the design process now, will be out in 5 years or less. Competition will not be suppressed, even though the mega monopolies owning these electric charging stations will throw fits (and big money into lobbying) to suppress the release of better products other countries will be using.
Big picture: Are these durable products where the cost will eventually be justified? No. Are these products going to be in long-term use beyond a 8-10 year lifespan? No, except for a few holdouts here and there. This investment will fail. It’s of little matter how low interest rates are currently, as we’d still lose long-term. No long-term payoff but additional expense for “aisle 3 removals and cleanups” station to station to station.
BBB is destined to fail (thankfully so) due to this short-term thinking! Gas stations will have outdated charging stations that would soon look like eyesores, similar to the old dilapidated phone booths. What are they thinking, that technological progress will suddenly stop so this short-term product pays off? That will be the only way that these charging stations will pay for their worth. No chance of stifling global competition overall. Monetary bribes of course still occur to legally seal/protect patented products which prevents sharing knowledge.
As it stands they will not pass BBB. Until a majority of those who enact our laws understand that matching reality, in today’s world, means looking into the future not the past, congress will continue to overspend and make short-term decisions.
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