This morning the Senate passed the Democrats’ $1.9 trillion spending bill on a party line vote, with every Democrat voting in favor. I take this to mean that there are officially no sane Democrats left. With something like $1 trillion still unspent from Congress’s last “covid stimulus” bill, the economic consequences of the current boondoggle, which has little to do with covid and a great deal to do with pork and partisan payoffs, are likely to be dire.
Today’s vote apparently signals the Democrats’ adoption of “Modern Monetary Theory,” which, as best I can make it out, holds that printing money creates wealth after all. The theory is so crazy that Paul Krugman won’t endorse it, and experience in places like Argentina and Weimar Germany would serve as warnings if anyone in the Democratic Party were paying attention. I am afraid we are all going to suffer the consequences of the Democrats’ improvidence for years to come.
But for now, consequences are the last things on the Democrats’ minds. They are partying the only way they know how, by wasting your money and your children’s money at a pace never before seen in our history.
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