He wants to cut the deficit by $3 trillion? Deficit was $2 trillion last year. So we’d have a $1 trillion surplus? That sounds awesome, but unlikely.
Now, we get to the part where Biden pledges $3 trillion in additional taxes.
Biden now talks about nurses and firefighters with graduate school debt, such as…this teacher in the audience.
Biden asks why we don’t have corporations run education of their own workforces. I suspect he didn’t think that one through.
Biden says that if inflation keeps coming down, the Fed will lower rates. “But I’m not waiting,” he says. So, he’s planning to subsidize demand in the housing market despite low inventory, which will contribute to inflation and ensure that America’s fiscal policy runs counter to American monetary policy. Brilliant.
A mortgage tax credit, that’s great, subsidizing demand while not increasing supply, that always works and never ever has any unintended consequences.
Mike Johnson has an enviably stable poker face.
To deal with the most expensive housing market in history, Biden’s proposal is to give $400 per month tax credits for homeowners. What do we expect that will do to housing prices?
A lot of discussion of housing affordability with no mention of the restrictions on housing supply that are most acute in the bluest areas of the country.
The same basket of goods that cost $1 when Biden took office now costs $1.18. Biden boasts that inflation is down, which means that the price of those goods went up 7 cents each of his first two years in office, but 4 cents last year. However, all voters care about is the fact that they are paying nearly 20 percent more for the same stuff then before Biden took office.