This article originally appeared on Fox Business on August 17, 2020.
The speakers at the Democratic National Convention on Monday night were acting as though they have a plan to quickly move the U.S. economy towards recovery – something that is already happening on an unprecedented scale — and then usher in sustained growth under a theoretical Biden-Harris administration.
In reality, the only thing their policy proposals would grow is government. In fact, that is all they are intended to grow.
As was the case during the entire primary process, Democrats do not have a single policy that will encourage private-sector job growth.
There are two major problems with this big – make that enormous — government approach.
First, everything Democrats are proposing amounts to increased government spending financed by money they would take out of the private economy through massive tax hikes.
Second, unlike President Trump, not one of these snake oil salespeople has a record of actually creating the kind of growth they’re talking about. Given their policy proposals, this is no surprise.
No matter what name they give it — “Green New Deal,” “unprecedented response,” or “free” this or that — the Democrats laid out plans that are no different in principle from every other failed spend-your-way-to-prosperity program ever attempted.
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