When I wrote last week’s article entitled “If you liked the TARP bailout, you’re going to love the coronavirus bailout,” I mentioned that Trump and his fellow nationalist Republicans in Congress were promising to spare no expense to deliver the “solutions” necessary to buy the November election. Oops . . . I mean “deliver the solutions our nation deserves,” to quote Mitch McConnell at the time.
Apparently, America deserves a LOT of solutions.
After weeks of playing the political blame game against each other for delaying the bailout while upping the ante in their economic poker game, Republicans and Democrats went all-in with a $2.2 trillion redistribute the wealth stimulus package that will do little to fix the economy they are responsible for destroying in the first place.
“In effect, this is a wartime level of investment into our nation. The men and women of the greatest country on Earth are going to defeat this coronavirus and reclaim our future,” McConnell said when announcing the deal. “The Senate’s going to make sure that they have the ammunition they need to do it.”
We will now stand, place our hands over our hearts, and pledge allegiance to the Republic of Trump.
On a serious note, the level of government spending to save the economy is a bad idea to begin with, but it’s made worse when you realize that it does little to provide “ammunition” to the people who need it.
As the Libertarian Party explained in their response to the stimulus package, the $2 trillion is a big business bailout and not a refund to taxpayers of their own money.
“The population of the United States is approximately 330 million. When divided among the population, $2 trillion equates to more than $6,000 per person,” said Libertarian Party Chair Nicholas Sarwack. “The government could be returning $6,000 to every person, but instead, it is planning to give $1,200 to each adult under a certain income threshold.”
Where is the $4,800+ per person going?
Bailouts, tax breaks, and political favors for big money donors who finance the campaigns of the Republican/Democrat duopoly, along with a laundry list of special interests — including, despite claims to the contrary, Trump’s hotel businesses.
Though the final versions for the bill has yet to be decided, an overwhelming majority of the funds will go to corporate bailouts — the same corporations that received the lion’s share of the benefits from the Tax Cuts and Jobs Act — along with a bevy of government programs.
By the way, according to some in the White House, $2 trillion dollars is only a fraction of what will eventually be spent to stimulate the “greatest economy in history.” Economic advisor Larry Kudlow is projecting a $6 trillion price tag, and Trump recently told FOX News he expects it to reach $10 trillion.
You know, it’s almost like they believe that money from the feds is free.
David Leach is the owner of the Strident Conservative. He holds people of every political stripe accountable and promotes conservative principles over political parties.