| Unleash Prosperity Hotline Issue #227 2/22/2021 |
1) Putting America Last Bloomberg reports: In remarks to the G7, President Joe Biden will call on industrialized democracies to partner in confronting the pandemic and climate change in a sharp departure from his predecessor’s foreign policy…. The new president will also ask foreign leaders to match his efforts to make large investments in economic stimulus, infrastructure and technology, warning that a greater risk lies in austerity. “He’s going to want to use the speech as an opportunity to say that United States is back as a reliable partner,” said Charles Kupchan, a senior fellow at the Council on Foreign Relations who served as senior director for European affairs on President Barack Obama’s National Security Council. Let us cut through all the flowery blather and translate what this means: America will go back to paying the rest of the world’s bills. Hooray! The Europeans and the other NATO nations are understandably euphoric that rich Uncle Sam is back passing out free money. Most tragic is Biden’s advice that as we speed like a runaway freight train over the cliff of multi-trillion dollar deficits, $6 trillion of new spending, and an expanded welfare state, the rest of the world should similarly put the pedal to the metal and eschew “austerity.” We warned of this if the left took over. When America gets it wrong, as Biden has managed to do so far on every issue, the rest of the world gets it wrong. America’s primary role in the world, as Reagan declared and then Trump repeated, is to serve as “a beacon of freedom,” and expand global prosperity by leading by example. We are now setting a very BAD example for the rest of the planet. |
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