If you are an Economics major, or underwriting one who is a student at the prestigious and costly (approximately $70,000 per year for tuition, fees, room and board) Boston University (BU), you probably should demand a refund.
BU boasts that their Economics majors graduate “with a firm understanding of core microeconomic and macroeconomic theory” along with the “empirical skills that are essential to applying economic reasoning in our increasing data-driven world.”
Yet, arguably Boston University’s most famous Economics graduate, Rep. Alexandria Ocasio Cortez is repeatedly proving beyond a reasonable doubt that she is an economic dolt. Or is she?
You can ignore her bogus claims about unemployment numbers. No, Ms. Ocasio-Cortez, most Americans do not have two jobs and unemployment numbers are not down because “people are working 60-80 hours a week” and still can barely feed their children.
Employed Americans with 2 jobs presently account for less than 5% of the work force and the number of hours or the number of jobs is not multiplied to obtain the impressive 4% unemployment rate since Donald Trump became president. Welfare and food stamp rolls are the lowest in years, and the Trump economy has impressively reduced, not increased, the numbers for child hunger.
It is Ocasio-Cortez’s imbecilic justification for opposing Amazon building a massive plant in New York that exposes the latest “wonderchild of the far left’s” total lack of economic prowess.
Amazon, to the giddy delight of the media’s latest socialist super star, has pulled out of their plans to build a new campus in New York. It would have created 25,000 high paying jobs in a state that is experiencing an exodus of businesses and affluent citizens to states with less confiscational taxes and burdensome regulations.
In exchange for building a $2.5 billion campus in the neighborhood of Queens, Amazon would have received $500 million in capital gains incentives and $2.5 billion in tax breaks over the next decade.
Incensed by this “massive give away” to an evil corporation, Ocasio-Cortez bellowed, “If we were willing to give away $3 billion for this deal, we could invest those $3 billion in our district ourselves… We could hire out more teachers. We can fix our subways. We can put a lot of people to work for that money, if we wanted to.”
An irate Ocasio-Cortez is incensed that anyone would challenge her basic intelligence.
Here’s what the Democrat darling doesn’t quite seem to grasp. There is not some $3 billion stockpile of money sitting in New York Mayor DeBlasio’s desk or in Governor Cuomo’s campaign war chest waiting to be doled out for Ocasio-Cortez’s latest socialist redistribution of wealth scheme.
The estimated economic benefit to New Yorkers over the next 10 years, if Amazon hadn’t pulled the plug on the project, was $27 billion. The $3 billion bonus to Amazon would not be realized until after their positive economic impact had come to fruition… and it would come not in the form of taxpayer cash, but as tax cut incentives.
It isn’t the “either-or” situation Rep. Ocasio-Cortez whines about. It isn’t a choice between giving a greedy corporation $3 billion instead of investing in more teacher and high cost, high speed choo-choo trains, etc. It is rejecting 25,000 good jobs and a 10-year $27 billion infusion of money into New York vs. “nada”.
Even the great worshipers of “all things Ocasio-Cortex” at the New York Times are blasting the opponents of Amazon coming to New York. Times columnist Andrew Ross Sorkin called it evidence of a “financial literacy epidemic” in America.
Ocasio-Cortez’s fiscal cluelessness doesn’t end with her debatable “triumph” over Amazon, her New Deal Green Plan is the blueprint for the permanent economic demise of America. Yet, several of the Democrat front runners for President have enthusiastically embraced the plan for turning America into another failed socialist third world country.
Either Rep. Alexandria Ocasio-Cortez is a poster child for the marked decline of America’s institutions of higher learning or she is a charismatic Pied Piper con woman convincing the gullible to piously follow her off a high cliff to no where.
Jayne Carroll hosted a daily talk show in afternoon drive time in the Portland, Oregon metro area for more than 20 years. She wrote a popular conservative newspaper column for over a decade. Her live shows and podcasts can now be heard at TheJayneCarrollShow.com in addition to her political commentary, “Jayne Says“. Jayne and her Producer Jeremy Scott can be contacted here. Guest appearances and speaking bookings can be arranged via email at [email protected].