Inflation? What inflation. We’ve got all the cash we can print. And more. Now let’s print some and give it away.
President Biden on Sunday relaunched a global infrastructure initiative meant to counter China’s growing influence, saying the U.S. would commit $200 billion to the effort in public and private financing to boost projects in developing and middle-income countries.
Describing the globe as at an inflection point, Biden said the initiative by the Group of Seven (G-7) nations would help set the world on a strong path for the future by investing in sustainable projects that are “grounded in our shared values.”
Sustainable means worthless green energy garbage that puts money in the hands of politically connected investors.
In addition to U.S. commitments, Biden said the G-7 countries collectively would aim to mobilize $600 billion for the partnership by 2027. The $200 billion in funding the U.S. is committing over the next five years is a combination of federal financing, grants and private sector investment, according to a White House fact sheet distributed ahead of Biden’s remarks. The plan, called the Partnership for Global Infrastructure and Investment, is a rebranding of the “Build Back Better World” initiative that Biden unveiled at last year’s G-7 summit.
Because nothing was learned from the miserable failure of Build Back America.
I’m all for countering China, but how about we do that by doing what the PRC did, build up our own manufacturing so it’s globally competitive and take control of our economy, instead of dispensing more foreign aid so a handful of companies get some sort of favorable treatment in the Third World.
“I want to be clear: This isn’t aid or charity. It’s an investment that will deliver returns for everyone, including the American people and the people of all our nations,” Biden said.
As usual, “let me by clear” means, “I’m going to lie to you now. The truth is the opposite of what I’m saying.
Meanwhile, Americans can’t afford to buy food and inflation is getting worse by the day.