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Biden unveils $2 trillion infrastructure plan

27 Comments
By Jerome CARTILLIER

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For the last few decades the US economy has benefited the wealthiest while leaving dozens of millions behind. The country's failures to deal effectively with the pandemic have resulted in millions unemployed with no job prospects.

If this infrastructure plan is implemented, more people at the lower end of the economic spectrum might be able to earn a regular paycheck.

If it's not implemented, the caste divides in the country will further widen, which is what the plutocrats seem to want. They've shown they have no regard whatsoever for their fellow citizens, just like all other plutocrats throughout history.

6 ( +11 / -5 )

If you thought Bush, Obama, and Trump were profligate- Biden is on pace to be the King of Debt in a single term. The American national debt is over $28 trillion. Only about 25% of Biden’s infrastructure proposal has anything to do with infrastructure. The emergency covid bill was even less about covid. I love how the Dems howled about the debt when Trump was in office. Now it’s the GOP’s turn to pretend that they care.

The real national emergency is the mortgaging of the nations future. There is no chance that this debt will ever be repaid. It will continue to go up and the interest will become so large as to become politically untenable. At some point over the next 10, 20, 30 years interests rates will go up - it’s just part of the cycle of economics. When it does happen it will be devastating. So devastating that no one will give a damn about global warming because they will be desperate to make a living.

Politicians are so short sighted in their view on spending and budgeting you have to wonder if they have no knowledge of history or economics at all. Ideological blinders are leading America over a cliff their leaders will be whistling all the way to the bottom.

-7 ( +6 / -13 )

Today I'm proposing a plan for the nation that rewards work, not just rewards wealth.

This is such a stupid expression Joe clings to. The goal should not be to vilify wealth; ideally, we want everyone to have wealth. The dems, however, want everyone to be equally poor—with themselves, of course, more equal than others. Dems have a strange belief that wealth is inherited and not earned. Then there’s the irony that all of the politicians, especially the career ones—pelosi, schumer, waters, they’re all extremely wealthy. This is the kind of philosophy dems use to shackle the brains of their constituents. Meanwhile, Joe is already several trillion in debt, and he’s only been in office 3 months. This guy spends more than a desperate housewife from Orange County.

-5 ( +9 / -14 )

*not inherited. Dems have a strange belief that wealth is distributed and not earned.

-3 ( +7 / -10 )

In his 2016 campaign, Trump promised to repair and fix the infrastructure, the crumbling bridges, and roads. But it never happened.

National Debt under Trump jumped $8 trillion in a single term.

Biden's plan $2 trillion over 8 years.

If bridges are not repaired and updated they stand a chance of collapsing causing a major disaster.

9 ( +13 / -4 )

For the last few decades the US economy has benefited the wealthiest while leaving dozens of millions behind...

We can thank the shift 25 years ago toward globalization/free trade/neo-liberalism, which among other things led to the destruction of the labor unions.

Now that the global economy is set to be dominated by a communist dictatorship, it's high time for the US to adopt an industrial policy under which it can aggressively build infrastructure regardless of cost. That is what China is doing with its "Belt and Road" initiative.

7 ( +8 / -1 )

And the theft continues...

First the election. Then the $2 trillion "COVID relief" bill that gives 9% to COVID relief and the rest to political friends.

Now another $2 trillion, this time for an "Infrastructure" bill that gives 30% to transportation infrastructure and the rest to political friends. Speaking of Biden's political friends, the bill also drives up taxes for American companies resulting in closures and, guess what, less competition for China! What a coincidence!

And let's not forget the theft of American liberty and taxpayer money with 100's of thousands of illegals pouring in to the Southern U.S. (with COVID), which includes Cartels trafficking drugs and people, and paying for illegals to stay in nice hotels and get free education!

Thank you Joe and Kamala!

-1 ( +9 / -10 )

Both parties agree that infrastructure repair is badly needed. The disagreement is on the total amount to spend. Hopefully they'll be able to agree to bipartisan legislation.

Ignore comments about "wealthy friends" and "Democrats want everyone poor." It really has nothing to do with anything in the article or the sticking points of the legislation.

2 ( +9 / -7 )

Only about 25% of Biden’s infrastructure proposal has anything to do with infrastructure. The emergency covid bill was even less about covid. 

This isn't the Trump administration, it's not about narrative and lies. Money will go where it's supposed to, not into the pocket of the President.

The goal should not be to vilify wealth; ideally, we want everyone to have wealth. 

That's exactly what Biden said. He doesn't have anything against billionaires, the infrastructure plan is to get more jobs to more people, and build an infrastructure which is crucial to America. Infrastructure is key to increasing efficiency and the basis for a better economical model due to ease of access for all.

The real national emergency is the mortgaging of the nations future. There is no chance that this debt will ever be repaid.

Actually, if one is so short sighted not to understand how better infrastructure takes investment, and that investment will lead to a better future, then one cannot understand how debt will be paid and more.

This debt is not just dollars and cents being paid back in dollar in cents, it's about America keeping up and leading by public programs such as infrastructure improvements which are necessary to allow for economic growth.

-1 ( +6 / -7 )

The Trump infrastructure plan would have cost $5 trillion.

1 ( +7 / -6 )

it's high time for the US to adopt an industrial policy under which it can aggressively build infrastructure regardless of cost

Not gonna happen. The US as people know it is finished. At the moment it's just people partying, grifting and attacking each other while the ship heads for an iceberg.

Maybe after the inevitable total economic and social collapse, they might get serious again. If there's anything left.

5 ( +9 / -4 )

Almost all the yakuza I have met in japan, have business interests in construction and infrastructure.

Any Americans here...is it the same in your country?

-4 ( +2 / -6 )

Interesting comparison....

Repubs in 2017 gave a $1.9 trillion unfunded tax break to the Top 1% - these were permanent tax breaks while the middle class ones expire in 2025...and uttered not one word about the deficit....

Dems in 2021 want to invest $2 trillion in America by rebuilding our failing infrastructure and at the same time create more mid-level and blue collar jobs....

Both these initiatives cost about the same...

It's pretty clear who Repubs are interested in helping...

0 ( +6 / -6 )

The goal should not be to vilify wealth; ideally, we want everyone to have wealth.

America's pursuit of wealth impacts the poor, not just in the US, but in developing nations.

The obscenely wealthy have made their way to the top with no regard for anyone else.

They will not give up their ill gotten gains easily.

3 ( +7 / -4 )

It’s good that Trump was kicked out of office, but sad that he had to be replaced by a big government central planner type.

Biden said an increase to 28 percent in corporation tax would still leave the rate lower than it was for almost 70 years between World War II and 2017.

So that’s like saying you’ll go back to having only two fingers, rather than having a whole hand missing.

Times have changed!

People know now that tax revenues are higher when the tax rates are lower! US tax revenues in the year prior the pandemic were the same as they were before the 2017 tax cuts.

Incentives matter.

"This is not about penalizing anyone. I have nothing against millionaires and billionaires."

But you do think your bureaucracy will know how to use that money better than them, and the higher tax rates won’t bring in as much revenues anyway.

Doesn’t look good when the US is trying to out-China China!!!

-5 ( +3 / -8 )

oh wow, how did this slip through? There wasnt even a disclaimer that Obama somehow made MORE "no progress" than Trump did.

"Both his predecessors Barack Obama and Trump made heady promises over infrastructure investment, but struggled to make any progress."

-2 ( +2 / -4 )

Trump wasn't able to get it done because he and Republicans never developed a plan, just a slogan 'Infrastructure week'. 'Just a Slogan' is all Republicans ever have. 

The US Chamber of Commerce backed the infrastructure push, but said Biden's proposal was "dangerously misguided" over how to fund it.

Of course the Chamber of Commerce is both for it and against it. Our form of Capitalism is private profit and public debt. The CoC loves the idea of improving infrastructure, they just don't like the idea that those that will benefit most from the upgrade will have to pay for it.

4 ( +6 / -2 )

Due to neglect, the infrastructure is at third world standard, and dangerous.

2 ( +5 / -3 )

If Trump hadn't kicked the infrastructure down to later administrations, the righties wouldn't have to be angry about blowing the budget out on infrastructure, because they would have been the ones blowing out the budget, which they're ok with.

But since Trump kicked it down the line for Biden, Biden has to do the difficult work. The Repubs will blame Biden of course, just like they blamed Obama for fixing the 2009 crash they caused, and how they blamed Obama for paying for the wars the pubs started.

The truth is, if Trump hadn't kicked it down the line, it wouldn't be a problem, so it's the Current 45th President of the United State's fault.

-2 ( +3 / -5 )

The US Chamber of Commerce backed the infrastructure push, but said Biden's proposal was "dangerously misguided" over how to fund it.

Parties having the same goals, with different ideas how to meet them, is how healthy societies function.

Parties wanting to rip apart the establishment because they like how their boy trolls people on Twitter, is how countries fall apart.

Seems Biden's trying to put the pieces back together.

-2 ( +3 / -5 )

The country's failures to deal effectively with the pandemic have resulted in millions unemployed with no job prospects.

I don’t get it. Before the pandemic, unemployment was at or close to pretty long term low levels, less than 4% I recall.

So people who suddenly lost their jobs in the pandemic no longer have job prospects? Who says they have no prospects, as the US vaccinates it’s population far more rapidly than most other nations?

I don’t get the logic, so it leaves me with the impression that the central planners just want to be seen to spending a lot of money, exercise their power, and doing something, so that they can claim their policies are to thank, when people can surely find their own way back into work as the pandemic subsides.

-1 ( +4 / -5 )

fxgai: it leaves me with the impression that the central planners just want to be seen to spending a lot of money, exercise their power, and doing something, so that they can claim their policies are to thank

Because the US needs no infrastructure work?

-1 ( +4 / -5 )

Because the US needs no infrastructure work?

As I’ve never placed foot on US soil I have no clue about that, but as for jobs, which was mentioned, that didn’t seem to be a problem at all immediately prior to the pandemic, so it makes no policy sense to me that lots of money would need be spent now to “create jobs”.

Yesterday’s ADP jobs report showed another 500,000 created last month, tonight’s NFP numbers will surely show similar big gains in jobs - so why would taxes be levied partially at least in the name of creating jobs? The economy creates jobs by itself, without central planning and tax-and-spend redistribution.

If those tax hikes see the light of day I’m going to be more pessimistic about US economic prospects than would otherwise be the case - as someone who merely invests in the US, that’s my personal interest. If I see crap policies enacted there, it definitely will make me think about where to invest instead potentially. But as for people working there, less investment from the likes of me would be negative for jobs, all else equal. If government screws it up and it works out to be a job killer net basis... ah well. I think the next US elections will refute these insane policies anyway. That AOC person... wow!!

-3 ( +2 / -5 )

The power infrastructure of Texas is the worst in the country with this winter costing the businesses and homeowners many millions of dollars and serious flooding damage. If you move there take a generator with you and an Ups for your computers.

0 ( +2 / -2 )

The power infrastructure of Texas is the worst in the country

Hardly even remotely close.

https://www.cnbc.com/2018/06/28/the-10-states-most-in-need-of-an-infrastructure-overhaul.html

-1 ( +2 / -3 )

Because the US needs no infrastructure work?

As I’ve never placed foot on US soil I have no clue about that

Because you've never been to the US, you don't know if roads and bridges are necessary for commerce and transport? Am I understanding that right? Do you think that hovercars are the norm in the US?

-1 ( +2 / -3 )

Lazarus: Obama literally had Ted Cruz in negotiations for the ACA. He removed the Public Option because Republicans said they wouldn't vote for the bill if the Public Option was in there... and then didn't vote for it anyway.

Tea Party?

1 ( +2 / -1 )

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