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Sean Hannity and Tucker Carlson Have Never Seen a Pro-Poor Decision They Like [1]
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Date: 2022-08-27
Tweedle dum and tweedle dumm
President Joe Biden has intervened in one of the biggest problems plaguing Americans today: the student debt crisis. He recently signed an executive order canceling student debt for up to $10,000, increasing to $20,000 for those who qualified for Pell grants. The student debt crisis is one of the most important crises of our time, and yet, Tucker Carlson and Sean Hannity fell over themselves to express their horror that the president had helped alleviate the pain of millions of Americans.
Hannity called it the “Biden Bribery and Vote Buying Act of 2022”, confusing his executive orders and his congressional acts, while Carlson called it “suicidal”. They have fallen for a long-standing myth in American politics that the United States as a country, has the same budget constraints as the typical household. Economist, Stephanie Kelton, calls it the “deficit myth” , pointing out that governments can indeed create money out of thin air, whereas if the typical household goes into debt, it really does have to earn to pay back that debt. If you think that’s wrong, then just look at how the United States was able to spend trillions of dollars between the Iraq War and the pandemic, without inflation, interest rates or taxes rising. Inflation today is all about the global supply chain disruption.
The federal government has been overly restrictive in supporting its citizens. Instead of more restraint, we need to encourage the president and Congress to spend money to alleviate poverty, tackle the climate crisis, and improve productivity. Biden deserves praise for accepting that the country does not have the budget constraint households do. We should all be sending congratulatory messages to Biden for getting this done. This is big. It means $10,000 to $20,000 that ordinary Americans can save and invest, or use to pay off their other debts. This is undeniably a good thing.
There is something malign about a party that celebrates bailouts for Wall Street and reserves all its ire for any policies that help ordinary Americans. We are in the biggest cost-of-living crisis of the last four decades, as the world struggles with the global supply chain disruption. Surely there can be nothing more unifying and popular than an executive order that helps Americans live.
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