According to those on the Left Build Back Better would potentially solve all our problems. It would seem this ostensibly ingenious legislation should be the blueprint for every other country to follow to bring prosperity for the people of their nations as well. So why doesn’t every nation simply Build Back Better?
I am sorry what now?
What did every Western European country do for its populace during the pandemic. Would kind of stimulus checks did they receive?
What does their government spending on infrastructure look like
The op reeks of absence of research of current events of the past 18 months
I’m talking about every country in the world using this as a blueprint, not just some of the European nations that has similar aspects.
Every country in the world can’t afford it. Even those that can’t often spend a lot of money on public projects, it just gets stolen due to corrruption.
It happens here too.
And the US can?
More than they can. Yes
Please…allow me to fill you in on the person leading this “absence of research”. When the pandemic first came on the scene, President Trump ordered flights out of China to stop. Now that makes perfect sense, doesn’t it? The person now leading this BBB bill is the same person who labeled that act, racist and xenophobic and then suggested everyone go mingle in Chinatown, cramped together, which in turn would do nothing but exacerbate the spread of this highly contagious virus. If you choose to defend this one zillion percent dumbass, that says a lot about your discernment. Oh wait…you voted for Biden, didn’t you? Never mind…
What in holy heck does this have to do with the topic of this thread?
Allow you to do what?
Why is that relevant?
Because if there’s one thing China has avoided, it’s massive public investment.
Of course we can.
I don’t think so.
How is that working out for them?
Since the late 2000s, however, the drivers of China’s rise have either stalled or turned around entirely. For example, China is running out of resources: Water has become scarce, and the country is importing more energy and food than any other nation, having ravaged its own natural resources. Economic growth is therefore becoming costlier: According to data from DBS Bank, it takes three times as many inputs to produce a unit of growth today as it did in the early 2000s.
China is also approaching a demographic precipice: From 2020 to 2050, it will lose an astounding 200 million working-age adults—a population the size of Nigeria—and gain 200 million senior citizens. The fiscal and economic consequences will be devastating: Current projections suggest China’s medical and social security spending will have to triple as a share of GDP, from 10 percent to 30 percent, by 2050 just to prevent millions of seniors from dying of impoverishment and neglect.
I have been waiting for these various trip wires and reversals (e.g., the demographic crisis) for years. They may occur with major consequences. In the mean time, China’s unquestionable emergence as a global power has been fueled by (among other things) massive public investment.
Same article, you should have kept reading.
The economic damage these trends are causing is starting to accumulate—and it is compounding the slowdown that would have occurred anyway as a fast-growing economy matures. The Chinese economy has been losing steam for more than a decade: The country’s official growth rate declined from 14 percent in 2007 to 6 percent in 2019, and rigorous studies suggest the true growth rate is now closer to 2 percent. Worse, most of that growth stems from government stimulus spending. According to data from the Conference Board, total factor productivity declined 1.3 percent every year on average between 2008 and 2019, meaning China is spending more to produce less each year. This has led, in turn, to massive debt: China’s total debt surged eight-fold between 2008 and 2019 and exceeded 300 percent of GDP prior to COVID-19. Any country that has accumulated debt or lost productivity at anything close to China’s current pace has subsequently suffered at least one “lost decade” of near-zero economic growth.
Good news…in spite of Brandon.
Oh and they better hope Omicron is a lot less lethal as well because their vaccine does nothing against omicron. And they don’t have very many people with acquired immunity either.
The Chinese vaccines Sinopharm and Sinovac — which make up almost half of all shots delivered globally — offer almost zero protection from Omicron infection. The great majority of people in China have received these shots, which are also widely used in low-and middle-income countries such as Mexico and Brazil.
Here’s a link to the US National Debt Clock
Hopefully you are of reasonable intellect and can figure out that no, America not only cannot afford what you’re suggesting but can’t sustain what’s going on now!