President Joe Biden's speech before a joint session of Congress Wednesday was a big day for San Francisco history. The president spoke in front two San Francisco Bay Area Women, House Speaker Nancy Pelosi (D-San Francisco) and Vice President and former San Francisco resident Kamala Harris.
But many fiscal conservatives say the history that President Biden made Wednesday will come back to sting taxpayers.
“In spite of President Biden’s attempt last night to claim credit for the Trump economic recovery, today’s announcement that the First Quarter Gross Domestic Product increased at an annual rate of 6.4 percent is 100 percent a result of President Trump’s economic recovery policies," stated in a press release by Americans for a Limited Goverment on Thursday.
“In fact, there is evidence that Biden’s insistence that unemployment benefits be increased by $300 a week in his ‘recovery’ package is likely the biggest drag on the economy as employers in many sectors cannot find people to employ even though more than 3.8 million Americans are claiming regular unemployment insurance and an additional 6.9 million people claiming pandemic unemployment insurance," Americans for a Limited Goverment continued. "Even Biden’s economic advisors must know that if people get paid more not to work than to work, they will sit at home or enter the black-market economy while still collecting government checks.
“This is so obvious that one can only surmise that team Biden wants tens of millions of Americans unemployed and dependent upon their largesse. After all, their recovery policies amount to little more than tying as many Americans’ hands together with the velvet rope of ‘free’ government money.”
But Speaker Pelosi stated that President Biden's spending plan is good for America's bottom line.
"The Republicans all vote ‘no’ and take the dough," Pelosi told CBS Morning host Gayle King. "They don't mind going home and bragging about some of the initiatives that were in our Rescue package, and that’s what they usually do. They don't mind giving a nearly $2 trillion tax break, at a cost to our national debt, just to give a $2 trillion gift to the richest people in America: 83 percent of the benefits of their tax scam of 2017 going to – 83 percent, 83 percent of it going to the top one percent."
Speaker Pelosi continued, "So, what we're talking about here are investments. Nothing brings more money to the Treasury than the investment in education that we make. Early childhood – and the President has universal pre-K, early childhood, K-12, higher education that he talked about. Lifetime learning for our workers. All a part of the plan that he is putting forth. All of that brings more money than anything back to the Treasury. So, these are investments. And they – all of a sudden, they're deficit hawks when they were giving away money to the wealthiest people in our country under President Trump."
San Francisco politicians have a reputation for big goverment spending say fiscal conservatives. The City and County of San Francisco has more employees per capita and spends more per capita than any other city and county in the nation.