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| AP Photo/Evan Vucci |
One of the fun new talking points offered by the cool kids in the Biden administration is that a new report from Moody’s Analytics indicates that President Biden‘s infrastructure-is-really-everything-we-can-possibly-imagine plan will help create 18.9 million new jobs by 2030.
That sounds great.
There’s just one small problem. That talking point is somewhere between misleading and outright inaccurate. What the report actually says is that the “infrastructure” plan would create 18.9 million jobs, but if everyone kept their money in their pockets and the federal government did nothing, the economy will create 16.3 million jobs anyhow.
So, assuming that the giant, change the world, 21st-century New Deal proposed by the most transformative president ever actually does what its authors intend, it would create about 2.6 million additional jobs in these United States.
There are two ways to think about that number. First, in an economy in which about 150 million people have jobs, it represents about 1.7% of all of those jobs. --->READ MORE HERE
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| Drew Angerer/Getty Images |
President Joe Biden’s next major legislative push is on infrastructure, but his proposed $2 trillion plan might be more fluff than concrete.
A recent analysis from Fox News determined that less than $750 billion actually goes towards what is typically considered infrastructure, like roads and bridges.
The aforementioned total includes $115 billion to “modernize” roads and bridges that need repair and $80 billion to expand and conduct maintenance for Amtrak, Fox News reported.
By this estimate, it means that only around six percent of “The American Jobs Plan” truly fulfills its advertised purpose.
House Minority Leader Kevin McCarthy criticized the plan as a waste of taxpayer dollars.
“Not an April Fools joke: President Biden’s so-called ‘infrastructure’ plan spends less than 6% to repair bridges, highways, and roads,” the high-ranking Republican tweeted last week. --->READ MORE HEREFollow limks below to related stories:
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