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Red White & Bloom Brands Inc C.RWB

Red White & Bloom Brands Inc. is a Canada-based multi-jurisdictional cannabis operator and house of premium brands operating in the United States, Canada and select international jurisdictions. The Company is predominantly focusing its investments on major United States markets, including Arizona, California, Florida, Missouri, Michigan, and Ohio. The Company's segments include Distribution, Licensing, Retail, Corporate and Other. The Distribution segment cultivates, manufactures, processes and/or distributes Company branded cannabis and non-cannabis products directly to licensed retailers. The Licensing segment owns intellectual property associated with its Platinum Vape and Platinum trademarks and brands, that are engaged in the sale of non-THC branded products which are incorporated in licensed Company cannabis product offerings. The Retail segment sells both Company and third party branded and non-branded cannabis products and accessories to the adult-use and medical use markets.


CSE:RWB - Post by User

Post by moneywagonon May 27, 2021 3:20pm
171 Views
Post# 33279719

JOE BIDEN EXPECTED TO PROPOSE $6 TRILLION BUDGET RECORD WWII

JOE BIDEN EXPECTED TO PROPOSE $6 TRILLION BUDGET RECORD WWII

Joe Biden Expected to Propose $6 Trillion Budget, Send Spending to Record Post-WWII Levels

The Biden administration is expected to reveal a new federal budget to the tune of a record $6 trillion, which will further raise the country’s national debt levels and send already-soaring inflation even higher.

According to documents obtained by the New York Times, Joe Biden is expected to propose his first budget request to Congress, asking for a whooping $6 trillion for the 2022 fiscal year, which will be increased to $8.2 trillion by 2031. This will set the federal government’s spending levels to the highest since the Second World War, and deficit levels above $1.3 trillion over the next ten years.

The largest comparable deficit stood at $1.4 trillion, during former President Barack Obama’s economic bailout following the 2008 financial crisis. The latest spending proposal would drive America’s national debt to 117% of the country’s economy by 2031, while reaching the highest level in history and surpassing the previous WWII-era record by the end of Biden’s first term in 2024.

The astronomical growth in spending is mostly driven by the Biden administration’s two-part agenda— the American Jobs Plan and the American Families Plan— which are expected to enhance the country’s infrastructure and upgrade the social safety net. Biden anticipates to offset the record surge in spending by implementing tax hikes, particularly on wealthy individuals and corporations. However, as some analysts note, raising taxes is a fragile balancing act, as an elevated corporate tax rate could restrain economic growth and cut back jobs.

However, the budget will likely be met with substantial opposition among Republicans, many of whom oppose further government splurging following $6 trillion in emergency spending to combat the Covid-19 pandemic. Kentucky Sen. Rand Paul has previously warned Biden’s benevolent spending would have “profound repercussions,” especially as the country’s inflation levels currently sit at a 12-year high.

Indeed, despite the latest CPI print that suggests prices have only risen a paltry 4.2% over the past twelve months, nearly everywhere else in the economy tells a different story, especially herehereherehere, and here.


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