Unleash Prosperity Hotline, Issue 212. Excerpt provided by the Committee to Unleash Prosperity. Sign up to receive a free subscription to the full weekday newsletter by clicking here: https://committeetounleashprosperity.com/hotline/
The Economy is Fine; Biden Isn’t
We’ve noted before that the virus in Washington, D.C., seems to more resemble Mad Cow Disease than COVID, and listening to Biden’s blather on the economy only reinforces that thought.
Let us again shout it from the mountain tops: the U.S. economy is recovering rapidly (thank you, Donald Trump!) and all we need the federal government to do is nothing!!! Even vaccine distribution would likely be much faster if the government would just get the hell out of the way.
Here’s some of the evidence of an economy that is ready to rumble without more government assistance:
- Following the blow out 33.5% growth in the third quarter (recently revised upward), private sector growth came in at a healthy 4.3% clip in Q4 with big increases in investment. Growth would have likely been twice that high in Q4 had the big blue states like California, Illinois, New Jersey, and New York not idiotically shutdown their businesses again.
- The housing market is on fire. Recently the WSJ reported this headline: “Housing Prices Are Rising Everywhere in the U.S.” The average home price rose 12% over the past year (Sept. 2019 – Sept. 2020).
- The U.S. household savings rate is at or near a three-year high. Sending Americans another $1,400 of funny money is absurd.
- The latest jobs report finds some 6.5 million open jobs across the US of A. That’s more job openings than at any time during the supposed prosperous Obama years.
- Wages and salaries rose a brisk 6.9% in the fourth quarter.
- Americans’ wealth rose by $20 trillion last year with big gains for minorities and the middle class.
Does any of this sound like an economy on the brink of disaster? Does any of this suggest to you that the feds need to spend and borrow another $1.9 trillion? To paraphrase Cool Hand Luke: “Sometimes [doing] nothing is a pretty cool hand.”
To find out …
- What lesson the White House needs to learn
- What’s wrong with Philadelphia
- How a single virus case shut down a city of 2 million