'SPENDING IS TAXATION': Former Reagan adviser slams Biden, Democrats' spending bills
Full employment - I would describe it in terms of the participation rate, not in terms of the unemployment rate. That's just me. And our participation rate has dropped dramatically. People havein droves because of the stimulus spending that you were describing. But just hold back for a second. They call it stimulus spending.
But have you ever heard of a poor person spending himself into wealth and spending beyond what they should be doing, courts and roads and military? And that is not stimulative. Government spending is taxation. So all stimulus spending does it lowers the secular growth rate of the United States. We are becoming Japan.
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