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Ransom Cozzillio's avatar

I liked the article and agree with most of it. However, I think is a bit that's off-base in regards to learning from past mistakes.

You say, " Biden prioritized jobs through large non targeted spending packages, which worsened inflation and increased the price of goods. He assumed voters would reward him down the line, but that was not the case, and Democrats paid a heavy political price. Policy proposals that prioritize abstract future benefits over immediate economic pain have consistently backfired politically."

I read that as being his Covid recovery spending which actually WAS in response to immediate economic pain! It is now known (or at least knowable as some still deny it) that his Covid spending was too much and did worsen inflation more than was needed. But the impetus was immediate, not long term or abstract.

And the underlying theory is correct. The response to a demand driven downturn IS to run the economy hotter in one or several of a variety of ways.

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