We mentioned yesterday the Democrat’s Budget Committee hearing on the “success of the Biden economic recovery plan.” This is their line and as the economy collapses all around us, they are sticking with it.
Their star witness, by the way, is Julia Coronado, President and Founder, MacroPolicy Perspectives. She was the economist who predicted a year ago when Congress passed its $1.9 trillion spending bill that “there is no chance that this will cause inflation.” None. Zero.
And yet the Democrats STILL called her up as their “expert witness!”
One after another, the 15 or so House Democrats on the panel applauded the “American Recovery Plan” as an unqualified success. When the one Republican witness, Steve Moore, mentioned among other things the $175 billion in fraudulent and stolen unemployment insurance funds (a 20% error rate), several of the Democrats shrugged it off and said “you’re always going to get some fraud when you spend this much money this quickly.” Oh. Ok. Never mind.
One interesting sidelight. Every Republican showed up to the hearing in person. Almost all of the Democrats zoomed in as they remained huddled in their offices in the fetal position. Apparently, no one has yet told them that Covid is over.