President Biden and his congressional allies say they are “decelerating” the weakened American economy with its huge spending bills. The idea that Washington has to put money into the “economy” to make it stronger is foolish enough, but little of what happens in the waste of spending is about it. As Nikolai Wenzel argues in it Law & Freedom Essay, The aim is to transform the nation’s economy.
Here is an important passage:
Last year we saw a bipartisan attack on constitutional and fiscal locks. But the reality is worse than appearances. Indeed, ARPA is a Trojan horse that smuggles tools that are used for further seizures of power – those that would not be tolerated without the pretext of fighting a pandemic and recession. The education union machine has not yet issued the manna obtained under the CARES bill, but ARPA is showering it with an additional $ 130 billion – to be spent over seven years. This has nothing to do with stimulus, but is specifically a slush fund. ARPA is smuggling in support of health insurance premiums, including for some recipients who are not unemployed and have adequate resources. With traditional legislation unsustainable, ARPA is slowly laying the groundwork for payer health care. ARPA is even quietly shifting towards universal basic income by providing monthly child loans to most parents.
Wenceslaus is right. The Democrats want an economy under their control. This is much better for them, as it is far easier for them to withdraw support from a crony capitalist economy than one based on economic freedom. And, as we saw recently, a lot of great business leaders like to play along.
The fact that a managed economy inevitably wastes resources, drives out ambitious people, and leads to growing political disputes over falling GDP doesn’t matter to these villains. You want to enjoy power now.
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