President Biden is expected to sign the infrastructure bill today and it is a major achievement that many didn't think possible in today's Washington. It passed in a bipartisan way although by no means evenly. Some Republicans, a minority, voted for it and some Democrats, also a minority didn't vote for it. Still it passed and billions of dollars are going to flow into all parts of this country to shore up infrastructure and create jobs.
The negative conservative media highlights that the country is doing badly but it really isn't. Yes we have an increase in oil and gas due to the surge in economic activity worldwide, but a surge in economic activity is a very good thing. We have record prices in the stock market, low unemployment although some people have left it, an exit from Afghanistan and some progress in climate issues. The surge in economic activity has led to a small increase in inflation which will likely recede soon as supply chains catch up.
Our radical conservative media has taken a surge in economic activity as we recover from covid and portrayed it as a problem. Dealing with fast growth is a bit of a problem but its a good problem. With the new bill and money flowing we may have to deal with fast growth a bit longer.
The next bill provides big improvements for the people of this country with most of it offset by taxes on wealthy people. We are waiting on the congressional budget office to detail the impacts. Passing it is the way to shore up families providing long needed family benefits to equalize opportunity to all our people.
Its a good start to the Holiday season. America has a lot to be thankful for and its on the upswing.
No comments:
Post a Comment