Spewing Trillions of Dollars All Over the Place
Washington, D.C., February 22, 2021
This week, the House is considering yet another coronavirus spending bill. This will be in addition to the $4 TRILLION that’s already been allocated. Never mind that more than a trillion of that hasn’t even been spent yet – Democrats want to add another $1.9 trillion to the tab.
Remember all this coronavirus money is borrowed from our children – we don’t have this sitting around somewhere in a rainy-day fund. Furthermore, it’s on top of the federal government’s normal spending, which sadly there’s no effort to reduce. Everything just keeps piling on to our existing $28 TRILLION in national debt.
So let’s look at a few provisions being proposed in this latest coronavirus “relief package.” Tell me how these are related to COVID relief?
❌ $58 billion for pension bailouts
❌ $195 billion to bailout state governments
❌ $155 billion for local governments, territories, and tribes
❌ $40 billion for colleges and universities
❌ $28 billion for transit agencies in various cities around the nation.
While the list goes on, a significant amount of these funds won’t even be for this fiscal year! For example:
🔺 Of the $130 billion in the bill for K-12 schools, only 5% would be spent this fiscal year.
🔺 Of the $5 billion for Emergency Housing Vouchers, only 5% would be spent this fiscal year.
🔺 Of the $39 billion for childcare, only 19% would be spent this fiscal year.
🔺 Of the $50 billion for FEMA, only 23% would be spent this year.
🔺 Of the $5 billion for homeless assistance, NONE of it would be spent this fiscal year.
Thanks in large part to President Trump’s Operation Warp Speed, we have vaccines long before critics thought they’d be available. We now have declining hospitalizations and deaths in most parts of the nation. We have light at the end of the tunnel towards the summer and fall months. Which is all good news.
So to the extent Congress needs to pass additional relief, it should be necessary, targeted, and well-defined. We shouldn't be spewing trillions of dollars all over the place.
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