Attacking the Middle Class

News: Video Reports
by Paul Murano  •  ChurchMilitant.com  •  May 7, 2021   

Financial trouble looms

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TRANSCRIPT

President Clinton: "The era of big government is over!"

In Joe Biden's America, the era of big government is back, and with a vengeance, say key economists.

Mark Penn, former senior adviser to the Clintons: "This is enormous expansion of the government."

Lawrence Summers, Treasury secretary and economic adviser under presidents Clinton and Obama, warns Biden's fiscal policies are the most irresponsible in 40 years. 

Lawrence Summers: "I am worried that we are overstimulating the economy in the short run. I'm worried that we've got a housing market that's on fire. We've got more employers than ever before reporting labor shortages. Lumber prices have tripled."

Summers is now persona non grata by those who run the Democratic Party. But he's not the only economist worried about the future.

Larry Kudlow: "They're going to roll out some kind of crazy $3 million tax hike, which will absolutely decimate the economy next year and the years ahead — if it gets through."

A consensus focuses on four impending disasters:

First, the Biden agenda adds some $7 trillion to the national debt, already over-bloated from previous administrations. Because of the pandemic and the Democrats' socialist policies, the national debt will soon be a record $28 trillion, and the Treasury Department fears a potential default.

Second, inflation will hit hard.

Glenn Beck: "Over the past year, we have pumped more money into the financial system than ever before. Bloomberg is a little more honest using the term when they talk about rising prices: Instead of inflation they're talking about skyrocketing commodity prices."

Third, it may be impossible to pay for Biden's socialist agenda.

Joe Biden: "No one making under $400,000 will see their federal taxes go up. Period."

That's the promise, but there's little doubt the middle class will be squeezed, as is usually the case with massive spending.

And finally, the "Green Revolution" foisted on the American people will cause countless jobs in industry and fossil fuels to again be shipped overseas.

President Trump: "Joe Biden is the puppet of left-wing extremists trying to ... take away our energy, if you can believe it. No fossil fuel."

The family as the foundation of civilization is the buffer between the individual and the State.

Marco Rubio: "It's not possible to be a strong country without strong and stable families. The family is the most basic unit of any society."

Weakening the family — and particularly the middle class — increases dependence on the government, which may be exactly what the socialist Democrats want.

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