Daily Clips: October 31st, 2016
Hillary Clinton should add to the national debt: She has promised the American people that, “I am not going to add a penny to the national debt.” Politically, such a promise makes sense. But economically? Not so much.
It’s particularly disappointing that Mrs. Clinton is tying her promise not to add to the debt directly to her infrastructure plan, which offers perhaps the best bang for a government-borrowed buck. That becomes even more important if the economy careens into a ditch again, which some experts think we are due for soon. The best thing she could do would be to put forward a stimulus package with significant spending on building projects — and she would need to finance it by adding plenty of pennies to the debt.
Speaking on infrastructure…
Unfortunately, neither Clinton’s five-year, $275 billion plan nor Trump’s “at least double her numbers” calculation begin to address the trillions needed in leaky pipes, corroded tracks, decrepit trains, and faulty wiring, much less 21st-century smart grids, protections against sea-level rise, and innovative green investments.
US consumer spending increases: “When adjusted for inflation, consumer spending rose 0.3 percent after falling 0.2 percent in August.”
Gun ownership is not a human right: Absurd that this has to be stated over and over again, but here we are.
Today, spin classes, artisanal food, and the college application process have replaced Sunday promenades, evening lectures, and weekly salons. But make no mistake, they serve the same purpose: transforming class privilege into individual virtue, thereby shoring up social dominance.
Tweet of the day:
Haven't run this in a long while: Seattle city eateries now ~4,028, up ~137 over last ~16 months, or 8+ new per month. Damn min wage. https://t.co/WIo4CCXqup
— Invictus (@TBPInvictus) October 29, 2016