Money we do not have.
$1.9 trillion is about to get handed out to America as politicians on both sides show us how inefficient our government spending really is.
On Thursday, President-elect Joe Biden unveiled details on a massive $1.9 trillion stimulus plan. I don’t mince words in my newest podcast so please download it and listen:
Instead of handouts, government should be aggressively working to distribute the vaccines and reopen our economy.
But, why work when you can have a party on the taxpayers’ dime?
The “American Rescue Plan” as his team calls it will provide $1400 in direct payments to most Americans. This, on the heals of the $600 recently doled out to Americans. In addition, the Biden team intends to up federal unemployment benefits to $400 per week guaranteed through September, while increasing the federal minimum wage to $15 per hour.
And, don’t worry… there’s MORE on the way.
College loan forgiveness, reparations, climate change… are all expected to be part of the Biden economic teams second proposal next month.
Democrats are applauding the proposal, arguing it’s necessary given the challenges America now faces. And, it’s even expected to get some Republican support. Senator Macro Rubio (R-FL) had argued for President Trump’s $2000 direct payments proposal in a letter to Biden earlier in the week.
After all, it’s not their money. And, who cares about our national debt is approaching $28 trillion? They’ll be out of office long before the money is due.
It’s a party. And it may have a few afterparties, too. Let’s just hope the hangover isn’t too bad.