I never believed in the conspiracy theories that COVID-19 was an evil political conspiracy to undermine the country. But what emerges with each passing week is that the virus has been the springboard for the left’s agenda to transform America in ways Sen. Bernie Sanders, Michael Moore or Rachel Maddow could never have imagined. .
Without COVID-19, President Biden would never have been elected, of course. So, for the left, the virus has defeated former President Donald Trump. COVID-19 is now the gateway to the left’s utopian agenda of multibillion-dollar climate policies, over-regulation of the economy, rebirth of the welfare state and radical income redistribution.
Under Trump’s policies, we have experienced one of the most robust financial and economic expansions on record, especially in the advancement of minorities and historic reductions in poverty. The welfare state was retreating as income growth and record job openings pushed millions out of the welfare state into work. If the left really cared about the plight of the poor, they would have celebrated. Instead, the results showing that tax cuts, deregulation and laissez-faire policies work have made the Liberals miserable.
COVID-19 made the rebirth of great government possible. Last year, with Trump still in the White House, Congress spent $ 6 trillion, much of it (like the $ 600 extra unemployment benefits per week) in unnecessary and inefficient ways. But it was emergency spending.
The National Bureau of Economic Research recently said the recession was over in April 2020, and the recovery has accelerated thanks to the vaccine.
We would aggressively cut government spending in a rational world, as we did after the victories of World War II and the Cold War.
Instead, the left has leveraged COVID-19 fears to call for a $ 3.5 trillion budget reconciliation bill on top of the $ 1.9 trillion spent in March on social assistance programs. and now $ 4.1 billion for public works programs; union protections; subsidies for the green new deal; Medicare and Medicaid extensions and food stamps; and bailouts from Amtrak, transit and schools. Public schools in many blue states were closed for a year, but taxpayers must give teacher unions $ 100 billion. Explain that one.
The Congressional Budget Office calculates that all of this will add $ 20 trillion in new debt spending over a decade – and that with a massive tax hike.
COVID-19 has kind of given a new license to the craziest left-wing ideas. So we have Democrats moving forward with a plan to raise tax rates to over 50% and implement social assistance benefits that can pay families over $ 100,000 in annualized salary equivalent benefits. The government could strike and stay above 50% of GDP, equaling the socialist nations of Europe.
Spending programs that were once flouted with multibillion-dollar price tags are now sailing with trillion-dollar budgets. Additionally, COVID-19 has sparked modern monetary theory, meaning the federal government apparently has a limitless credit card.
The toll from COVID-19 has been terrible. Life expectancy fell in 2020 for the first time since World War II. Tragically, the âcureâ – or should I say, the carnage – of the progressive Biden post-COVID-19 experience could, in the end, be far more devastating and lasting than the terrible disease itself.
Stephen Moore is a union columnist.