Thursday, July 28, 2022

Don't Move the Goalposts Just Change the Definition of a Recession Americans Feel We Are In


Instead of moving the goal posts which is a favorite political trick
So often used when the facts don’t support the narrative or worse make sick
In the case of whether we are in a recession or not
Biden ignores reality and tries to a new definition sought
Instead of two quarters of successive GNP contraction which we just achieved
He is touting a basket of figures like job growth or unemployment rate to us deceive
He could have suggested consumer confidence which is at a low
Or the labor work force participation rate which keeps going below
Naturally avoided any discussion of the inflation rate at an all-time high
As he touted his massive spending plan which all economic rules on fighting inflation deny
Which when added to his plan to impose a minimum corporate tax rate of 15 %
Which will cause quickly to wonder where capital spending and wage increases just went
In a time when market forces have led us to reduce carbon emissions but energy production increase
His tax proposal also includes taxes on the cleanest fuel natural gas which is why our carbon footprint decreased
Manchin who many thought was Horatio on the bridge to fight massive amounts spend more
Abandoned his anti-spending sword and shied along with his coal producing state and the wishes of its voters to ignore

© 7/28/2022 The Alaskanpoet

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