This Spending Bill Is Borderline Criminal, More Wasteful Spending
I wanted to talk about this so-called “bailout bill”. First, why do we need another bailout already? We know why and we should stop calling them bailouts. There’s a reason that we’re going through this, state and local governments, for example, are going to receive $350 billion in funding as part of the next stimulus bill that’s according to the draft stimulus legislation that came out Tuesday night.
The funding for states will be going up based on the number of unemployed workers which on the surface makes sense, but at the same time That means that the states that have been running their states into the dirt and caused the most amount of people to lose their jobs are now going to have these disastrous programs funded by federal money. They’re going to take money from states that have been performing well, that have had a ton of businesses moving into town, a lot of real expansion. They want to take all that back.
At the end of the day, they’re not even using our tax money anymore. That wouldn’t be enough for how much they are spending. All of the recent spending bills were borrowed They’re spending the US into the dustbin of history.
There’s no way we could ever pay this debt back and we just had a stimulus bill a few weeks ago. The states are going to receive 195 billion
according to Bloomberg.
States would receive $195 billion and that money would partly be distributed based on a the share of unemployed workers. The District of Columbia would get the same share as states, unlike in last year’s relief bill. Local governments would receive $130 billion, partly based on population, with a carve-out for smaller communities. Territories would receive $4.5 billion and tribes $20 billion.
The bill also would spend $570 million to pay for 600 hours of paid leave for federal and postal workers to use for Covid quarantine or to care for infected loved ones. -Bloomberg
They say this money is going to be distributed based on the share of unemployed workers DC is going to get the same as the share of other states, unlike last year’s bill, local governments are going to receive $130 billion which will be based on population.
Local governments that have the largest population base are going to get the most amount of money but they said there’s a carve-out for smaller communities and territories which are going to receive 4.5 billion. Now the bill also provides 570 million to pay for 600 hours of paid leave for federal and postal workers to use to care for loved ones
So they’re gonna be bailing out these states where their policies are directly causing their economies to suffer and even causing businesses to shut down and pack up and move, they’re causing all of their wealthy residents to leave because they keep talking about raising taxes. And all of this could be stopped in a moment. They need only take the foot off the gas, and yet somehow We’re opening up the door here to this.
because it’s not just the money going out but they’re also dramatically expanding a lot of these programs, and these pretty you know normal liabilities that we have.
So I have this theory right about why they say that they’re moving quickly to, you know, move out these planned $1,400 stimulus checks as soon as they can get this through, and we can expect more of this activity. I think the reason that they made it 1400, even though they kept using the term $2,000 “we’re going to give $2,000” is so that they can go back in a few weeks and say, “Now look what you did, you only gave him $1,400, everybody’s upset”
don’t worry, we’re gonna get that passed, we’re gonna get those $2,000 checks out in the mail
Along with that one, It’s going to be another $3 trillion over and over and over again. And obviously, with this new, modern monetary theory mindset which is complete nonsense. One of the principles is that, because a sovereign authority or the Federal Reserve owns the currency, and has the capacity to create as much as it wants and that currency could never fail. Those sound like the words of desperate salesmen.