Just as Captain Edward John Smith stood on the deck of the world’s most famous ship, iceberg warning in hand; so stands Joe Biden, ordering the United States faster and faster into dangerous waters.
In the days leading up to the notorious shipwreck, many warnings of treacherous waters ahead had been received by the Captain and crew, and despite the seriousness of these warnings, the sheer ego of a man bound for retirement upon his arrival in New York, driving an “unsinkable ship” caused such enormous destruction.
So too, will Joe Biden sink what we believe to be “the World’s Largest Economy”. On the subject of his proposed $15 per hour minimum wage, the Congressional Budget Office predicts a hemorrhaging of jobs to the tune of 3.7 million! This already comes on the back of canning the XL Pipeline project (a projected 11,000 jobs) and canning the border wall project, another several thousand jobs or more, and despite the fact that it has already been funded by Congress.
These job losses are just the tip of the iceberg that promises to permanently sink our economy. Rising energy costs from such piss-poor decision making as an abandonment of the pipeline project will itself drive up the cost of common household goods. As the cost to produce common materials rises, so will the end products being consumed. The new administration is also considering many new taxes, to include a carbon tax on emissions, which will only add fuel to the inflation fire.
While some liberal projections estimate a $15 per hour minimum wage will inject as much as 8 trillion dollars into the hands of a few in the lowest echelons of society, we must consider at what cost this will come. While it stands to reason that some few individuals may indeed benefit by having their wages doubled, it also logically follows that many more people will find themselves unable to even get their foot in the door of employment at all.
I fear, in time, many more people than ever before will find themselves unemployed, unemployable, and stuck at home, while energy and food costs will threaten the very lives of these newly impoverished. I write this not so I can say “I told you so” in the future but merely to ring the alarm bell now. There is indeed an iceberg ahead, and we are driving straight towards it.