Well, the US Senate “Bipartisan” infrastructure bill will likely pass very shortly. And it is EXPENSIVE ($1 trillion +), sort of like the twin asteroids in the film “Deep Impact” where the larger meteor, the $3.5 trillion budget resolution coming right behind the smaller meteor.
Here is the 2,702 page infrastructure bill. Yes, 2,702 pages of pork-barrel spending with zero economic impact.
According to the Penn Wharton Budget Model, there is no economic impact to the Senate’s infrastructure bill, but there will be an increase in Federal debt of 1.3% by 2031.
To be sure, repairing roads and bridges is an ongoing Federal expenditure, but why isn’t there more spending on protection against EMP (electromagnetic pulse) that could fry our electrical grid and send our economy back to the stone age? Frankly, I would rather see spending on protecting our electrical grid that spend $66 billion on Amtrak or the $16 billion on electric buses, etc.
The first of these two asteroids will result in a massive increase in Federal debt with no corresponding increase in GDP. Thus, M2 Money Velocity (GDP/M2 Money Stock) will sink even further.
Here is a photo of the twin asteroids (spending bills) that are approaching the US economy. And video!
Where does it end?
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- Fifty More US Banks on the Verge of Failing
- A Full Blown US Conflict With Iran at Israel’s Insistence Is Approaching
- I am surprised a Japanese magazine would allow this to run, but it is correct…
- Inter-Bank Lending Has Stopped And We’re On The Verge Of A Crash
- “The Banks Are Melting”, And Signs Of A Major Credit Contraction Are Already Starting To Emerge
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- New York Times: “Stolen Valor: The U.S. Volunteers in Ukraine Who Lie, Waste and Bicker. James Vasquez, in fact, was never deployed to Kuwait…”
- Bibi Netanyahu Squashes Embarrassing Anti-Christian Bill
- The market is being held up by 7 companies
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