Conservative think thank the Manhattan Institute estimates that Joe Biden’s spending programs would cost American taxpayers $11 trillion.
Summit News reported on the think tank’s findings and how Biden’s plans for global warming, healthcare, infrastructure, and social security would lead to a debt crisis in America. Brial Riedl authored the report.
Rield told the Daily Caller that “The policies he’s proposing are going to endanger the economy over the long term” and would add “$4 trillion in new taxes, which is the biggest tax increase since the end of World War II, as well as $11 trillion in new spending, certainly more regulation, a higher minimum wage. All of that is going to weaken the economy.”
In addition, Biden has unveiled a proposal for $2.4 trillion in Wuhan virus stimulus spending, on top of $2 trillion in spending for global warming and infrastructure, and a $1.5 trillion plan to expand health care. According to certain estimates, Biden’s education spending program will total $750 billion, which includes a plan for the government to provide free college.
The former vice president has provided little information about how his administration would pay for this largesse. His campaign does intend to raise taxes on big corporations and high income earners.
The numbers were based on figures coming from Biden’s campaign website, the Committee for a Responsible Federal Budget and the Congressional Budget Office.
“It’s absolutely unsustainable,” Riedl asserted. He is of the opinion that “The danger is that eventually the interest costs will bury us. When you borrow that much money, all it takes is a small increase in interest rates to completely bury the federal budget.”
“Ultimately, we’re going to face a reckoning that requires either significant reforms to programs like Social Security and Medicare, or a possible doubling of middle class taxes,” Riedl cautioned, opining that “There’s really no third option.”
“The worst case scenario is that politicians continue to pour gasoline on the fire by enacting even more spending, which just accelerates a debt crisis,” Riedl observed.
Under the Trump administration, the deficit has generally stayed under $1 trillion annually. However, deficits are expected to explode due to Wuhan virus spending. The national debt is currently at $27 trillion.
In addition, the Federal Reserve will likely be back to its usual business of promoting easy money during this time of economic uncertainty. This combined with massive spending could bring about stagflationary environment that Americans have not experienced in decades
VIDEO: A Tired-Looking Hillary Clinton Shills for ‘The Great Reset’ Agenda at Globalist Forum
Did she run out of adrenochrome or something?
A recently recorded video of failed presidential candidate Hillary Clinton, who looks like she missed her most recent appointment for a fetal-cell spine injection, shows the two-time loser shilling for “The Great Reset” agenda.
Although Clinton does not mention “The Great Reset” by name, she endorses the technocratic socialist agenda that is obscured by the term.
“We’re going to have to take a hard look at how we can better frame how the markets work so that we begin to move away from the shareholder-centric approach, from the short-term returns that practically every business CEO that I’ve ever worked with, or talked with, has said, you know, distorts the market,” a demonic-looking Clinton said at the 2020 New Economy Forum hosted by Bloomberg.
“I think it’s time to look at what can make capitalism market operations work much more effectively and, frankly, equally to help build a real economy by shifting some of the incentives and assumptions that have grown into the system over the last fifty years,” the ghoulish former secretary of state added.
Her clip can be seen here:
— Bloomberg New Economy Forum (@neweconforum) November 18, 2020
Big League Politics has reported on the many globalist operatives who are endorsing the Great Reset as a way to permanently transform society while the world is gripped with mass hysteria over the COVID-19 scamdemic and destabilized due to media-promoted race riots and migrant invasions:
A leading globalist elite closely associated with the World Economic Forum has openly predicted that the world will never return to a sense of normalcy that existed prior to the coronavirus pandemic. Klaus Schwab made the concerning claim in his new book, “The Great Reset.”
“Many of us are pondering when things will return to normal,” wrote Schwab in The Great Reset. “The short response is: never. Nothing will ever return to the ‘broken’ sense of normalcy that prevailed prior to the crisis because the coronavirus pandemic marks a fundamental inflection point in our global trajectory.”
Schwab went on to predict that human history would be differentiated between an era before the pandemic and what comes after. He likened the historical event of the coronavirus pandemic to the birth of Christ, a peculiar slight to Christians who view the life of Jesus as an event quite unlike the spread of a disease.
“Radical changes of such consequence are coming that some pundits have referred to as ‘before coronavirus’ (BC) and ‘after coronavirus’ (AC) era. We will continue to be surprised by both the rapidity and unexpected nature of these changes – as they conflate with each other, they will provoke second-, third-, fourth- and more-order consequences, cascading effects and unforeseen outcomes,” writes Schwab.
In addition to being a longstanding patron of the globalist WEF’s yearly Davos gatherings, Schwab was a steering committee member of the Bilderberg Meetings. He was listed as an “international” member of the Bilderberg group’s executives, despite being a German national.
Managerial elites have spoken in open terms about their plans to redistribute the private property of average people to megacorporations and governments, compel the public to eat insects as a replacement for meat, and to gradually eliminate the use of personal automobiles.
Schwab staked out his vision of digitized corporate dominance of society in a recent speech given to the World Economic Forum.
If the vote steal against President Donald Trump is not overturned, the world is looking at a thousand years of darkness with all of these satanic elites on the same page ready to put the boot around humanity’s neck forever.
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