...Although Bidenomics is not easily explained, it seems to be predicated on three key pillars.
First, reverse the Trump administration’s crowning achievement of energy independence....
Second, Bidenomics is about increasing government dependence....
The third and probably most perilous aspect of Bidenomics is the embrace of Modern Monetary Theory.
Boiled down to its most simple terms, Modern Monetary Theory claims the federal government can literally print money to no end. It also claims, wrongly, that inflation can be micromanaged by all-knowing bureaucrats, which it cannot.
Although the Biden administration has not instituted Modern Monetary Theory in its full form (yet), it has definitely nibbled at its edges. To date, Biden has signed a $2 trillion Modern Monetary Theory-style COVID-19 “relief” bill. And the administration has proposed two more mega spending bills, the American Jobs Plan and the American Families Plan, which total $4 trillion.
So far, Biden’s embrace of Modern Monetary Theory-esque policies has sent inflation soaring....