1,000 Likes if I could.

The classic definition of inflation is too much money in the economy chasing after scarce goods and services. But the goods and services are scarce because of a two-year pandemic. BBB is/was supported by none other than the Keynesian Larry Summers, who correctly criticized the American Rescue Plan as inflationary because it dumped too much money into the economy too quickly while goods and services were critically scarce. Conversely, BBB seeks to build up the goods and services sector more slowly [1.7 trillion over 10 years is a meager 170 billion per year in human infrastructure, i.e., ‘services’]. BBB works to restore the balance between supply and demand over an extended period for the economy to absorb and adjust to the stimulus.

We now have a demand economy which ironically calls for supply side economics – something Republicans ordinarily love! What we now have is too much Keynes, or rather a misunderstanding and misappropriation of Keynesian principles.

Republicans railing against ‘supply side’ now are just as wrong as they were when railing against stimulus in 2009, and calling instead for austerity. Republicans are simply engaging in “Just say no,” politics instead of good economic policy for the good of the country. Republicans prove over and over again how they only care about power [read ‘money’] not people. Joe Manchin unfortunately follows that path on the Democratic side.

Republicans have done a good job convincing the country that ‘progressive’ is bad, and ‘conservative’ is good. Keeping the middle class scraping by ever thankful for scraps falling off the billionaires banquet table.

'Merika.