Kevin Duffy on Donald Trump, the "new boss," and the left-right political spectrum

The problem is that people choose a side and lose their objectivity. Trump started the vaccines under Operation Warp Speed.  He also got the stimulus ball rolling with the CARES Act (which sent out stimmie checks directly to people).  The Fed under his watched expanded its balance sheet 68% in 6 months to pay for it. 

What did the Biden administration do?  Did it change course?  No, it added to the stimulus, rolled out the vaccines using an intense marketing campaign, and kept printing money (Fed assets grew 20% in year 1).  Biden also expanded Trump's tariffs on trade with China.

Objectively, how well did these policies work?  1) The vaccines at best were ineffective.  At worst they led to an inordinate number of adverse reactions.  2) The stimulus drug wore off.  3) Inflation was unleashed.

All we have to show for this orgy of government intervention into our lives is a 50% jump in the national debt, higher interest rates, and interest expense on that debt that now exceeds the entire military budget.  So of course the incumbent party lost!

"Meet the new boss, same as the old boss."

~ Kevin Duffy, Facebook post, November 9, 2024