be clear. no one is paying it off no one s taxes are going up. she doesn t pay for. it is deficit finance, like a lot of stuff we have done. that is just nonsense. but that critique is also of course particularly rich coming for a woman who had her own government loans forgiven. that was pointed out by lots of people on social media. including kind of surprisingly the official white house twitter account which held this up. responding to that video saying, congresswoman may larry taylor greene had a 1000 ppp loans forgiven. the white house twitter account thread pointing out the hundreds of thousands, sometimes millions of dollars in paycheck protection loans which were set up to help small businesses pay their employees during the pandemic. those republicans didn t have to pay back. it was a very successful program. it helped a lot of people, just like student loan forgiving s.
deficit financed meaning that the government was borrowing money to put money into people s pockets because we felt we were in a recession, that would be the wrong thing to do. that would be inflationary. the build back better plan actually makes really important investments in our people that help people get the schooling that they need to be more productive, to help parents pay for child care so they can go to work, to make investments in our 3 and 4-year-olds so they become productive adults. economists agree that those investments pay for themselves over time, and they re not inflationary for three reasons. one is they play out over ten years. it s not juicing the economy over a series of months. it s spread out over about ten years. two, it is there are the resources it has paid for. it is not deficit finance. the build back better plan has revenue sources to pa for this as well. the president insisted this will be fiscally responsible, and the plan is, and three, something that
last minute? i don t know if they are going to be able to find the money to pay for this bill. i suspect in the end they would deficit finance. the main sticking points would be what this bill is going to spend the money on when you look at welfare for illegal aliens or welfare for households that don t have a single breadwinner. not even someone looking for work. not someone training for work which rolls back the accomplishments of the 1996 well fair bill that bill clinton and congressional republicans congressional republicans passed. those things are massively unpopular, very bad policy and going to cause a lot of democrats to balk at this bill. bret: a lot of political watchers say republicans are in a good position policy wise now heading into 2022. do you think former president trump is going to run for president? i don t know. i haven t speculated about what s going to happen in 2024. but i do agree that the critical election we face next year midterm election and most cri
taxes to pay for it, you have a front-loaded spending bill that had a lot of deficit finance. that s the stimulus in march all over again. it s an inflation problem. this is not gooding in a good direction nor the democrats. let s talk about that. we had three major stimulus bills. $5 trillion. almost $900 billion that went into bank accounts. that has exacerbated this inflation issue. even though wages are going up, it s being eroded because inflation is going up just as fast. yes. the 1.9 trillion in march was a huge mistake. the economy was growing. there was no need for stimulus. it was too big. first, it went into bank accounts and fueled asset inflation. came out as people got vaccinated and fueled this consumer price inflation. it s add a top line cpi rate of 7% annually.
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