Unbelievably, many are still tossing stink bombs at that bombastic president of yore, while refusing to scrutinize his successor. No matter. “Inflation,” “liberal-lunacy” and “parental involvement” in school boards will do it for them.
Much of my academic history involves voodoo science, economics. One economics professor I remember was a “monetarist,” a devotee of Nobel Prize-winning economist Milton Friedman. Monetarists explain inflation as an excess of government money in the economy, which erodes buying power.
Monetarists contrast with Keynesian economists, disciples of British economist John Maynard Keynes. Keynesians say stuff like, demand — bottled up by a pandemic lockdown — for scarce goods causes inflation. But no worries, infusions of government money will, in the “long run,” increase jobs, stimulate production and attenuate high prices.
My economics professor was a cute guy, statuesquely challenged but a towering intellect. He’d wind up and bounce around in front of the class, taking Keynesians apart: “Long run! Long run!” he’d exclaim. “Hell, in the long run, we’re all dead!”
The problem Keynesians have always faced is that empty stomachs operate “short run.”
Bacon prices are up 20 percent over the past year, eggs up 12 percent, gasoline, 50 percent. The U.S. Consumer Price Index — changes in the price of a “basket” of goods and services — is the highest in 30 years, with prices up 6.2 percent from 2020.
People vote their pocketbook.
U.S. Sen. Joe Manchin, a Democrat from West Virginia, calls inflation a “tax.” “From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day.”
Democrats tried, first ignoring it, then claiming it’s transitory. Now, outfitted in Keynesian duds, the Biden administration claims another gargantuan shot of government dollars for social programs will make inflation disappear.
Brian Deese, Biden’s economic adviser: “By providing affordable child care, affordable elder care, we’re going to help get those people back into the workforce, which will reduce price pressures while also reducing the practical costs that Americans face.”
President Biden says an upto 8 percent tax on millionaires and surtax on billionaires with assets over a certain level will pay every cent. Their problem is, that crowd is always ahead of Uncle Sammy. They’re already busy reducing assets. Recently, Elon Musk sold $6.9 billion in Tesla stock.
Assuming, as Mr. Deese said, that more social programs are key to cost-of-living reductions, adoption of Democrat Ilhan Abdullahi Omar’s guaranteed income bill should be a no-brainer. This July she introduced her Support Act. It would guarantee $1,200 monthly checks to anyone making less than $75,000 a year. “Anyone” includes illegal aliens, if they file taxes.
Her bill was co-authored by four colleagues. According to liberal HuffPost.com, Omar said, “Poverty is a choice. We as a nation have the ability to make sure everyone has their basic needs like food, housing and health care met.”
President Biden must find a way to distance himself from liberal lunacy infecting his party. Part of the affliction is “woke” Critical Race Theory.
PBS NewsHour’s Judy Woodruff recently interviewed political types about how Republican Glenn Youngkin flipped the governor’s race in Virginia. Woodruff: “What went ‘wrong’?”
Democratic strategist James Carville: “What went wrong is this stupid wokeness. I mean, this ‘defund the police’ lunacy, this ‘take Abraham Lincoln’s name off of schools,’ that — people see that. Some of these people need to go to a woke detox center or something.”
CRT will hugely influence the 2022 midterm elections. The National School Boards Association denies that CRT is being taught in public schools. Democrats say Republicans haven’t read up on CRT. Perhaps, but the perception is there. And that’s what counts.
Moreover, how many people do you know, no matter their politics, that research the academics of CRT?
In a recent Oprah interview with the first black female secretary of state, Condoleezza Rice, said, “I would like Black kids to be completely empowered, to know that they are beautiful in their blackness, but in order to do that I don’t have to make white kids feel bad for being white.”
Parents are up in arms about CRT. Nonpartisan Ballotpedia says it has tracked 80 school board recall efforts against 207 board members in 2021 — the highest since it began tracking in 2010.
Don’t discount Trump if he runs again. Newsweek has reported that a November poll by Redfield and Wilton Strategies showed 44 percent of respondents saying they’d vote for Trump in 2024, 39 percent for Biden. If Trump vs. Vice President Kamala Harris, it’s 45 percent for Trump, 36 percent for Harris.
Probably the only thing that can save Biden in 2024, assuming he runs, is Trump’s candidacy. Many hate Trump, personally. And the only hope Trump would have of winning is Biden’s continued ineptitude. Touché.
Michael Smith is a Southern Pines resident.