coal, so none of this will help the environment — but it will represent economic and military suicide for America.
In short, this is disastrous economic, energy and foreign policy that will serve only to drive the Democrats and America deeper into the hole.
At the same time, the new legislation does begin to recognize reality. It hints at support for natural gas and nuclear facilities to generate electric power. It suggests support for breakthrough forms of power generation and storage.
Finally, the act raises taxes on companies. Those taxes will lead to higher prices for food and other consumer goods and continue to fuel inflation. They will hinder the ability of companies to increase jobs and real wages. They will hinder investment and hurt the market, which in turn further erodes savings and retirement income.
The politics will be a disaster for Democrats. Americans will feel inflationary and other negative economic effects immediately. Much of the bill is pure pork and will never produce any real benefits. The subsidies (political bribes) will take years to be felt. The benefits from any breakthroughs in new energy production and storage will be decades away.
No matter how much you try to dress it up and promote it through friendly media, you cannot put lipstick on that much pork and expect to win elections. Will Americans buy a “great used car” from these Democrats in 2022 or 2024? No sale!
Grady Means is a writer (GradyMeans.com) and former corporate strategy consultant. He served in the White House as a policy assistant to Vice President Nelson Rockefeller. Follow him on Twitter @gradymeans1.
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