Alternative Visions - Fact-Checking & Debunking Biden’s State of the Union Speech

this week’s show is dedicating to debunking various claims Biden made in his State of the Union speech last week. Topics include claims of 12 million jobs created, unemployment rate at 50 yr. low, inflation, taxes and national debt. An explanation of Biden’s claims his 3 big investment bills passed last year will soon have a big impact on the economy, specifically the Infrastructure bill, Chip & Science Act, and Inflation Reduction Act. How the three represent a trillion dollar shift in spending from Covid relief social programs to subsidies to corporations to invest.  Why austerity in social program spending is now on the agenda, to finance in part an even bigger rise in defense and Ukraine war spending than in 2022.  Dr. Rasmus explains how chronic deficits for the past 20 years have been due to $15 trillion in tax cuts and $7T in war spending (not counting Ukraine), driving the national debt from $4T in 2000 to $31.5 trillion today. Rasmus explains why the main target in spending cuts is social security and medicare, despite Biden and Republican claims they won’t cut social security.