First, let’s be clear about what this legislation is, and isn’t. Of the $1.9 trillion dollars, $200 billion goes to Covid. That includes stimulus payments and vaccine production and distribution. In other words, to be a Covid relief bill, it could have been done for under $250 billion. Total. Out the door.
Now let’s talk about what it really is: A giant ally-payback bill. Seriously. You really need to go read this. I will pull a final copy down to get through the rest of it in the next few days, but this bill is packed with blue-state and union bailouts. Most of us voted for these people to give them the keys to the castle to do this – mostly because of a spoon-fed belief that GOP is “bad” and “evil” … when, in fact, GOP is actually fiscally far more reasonable, unless they need to do things like rebuild the military after sequestration, etc. My advice: Eat from a different, moderate spoon. This is just the first of a long list of massively expensive bills Joe has on his agenda.
So – back to the bill. I already mentioned in previous posts about what is in this bill that is totally non-Covid related, but here are a few more tidbits:
Did you know… This bill bails out union pensions across the country that have been so corrupt and mis-managed that they are near bankrupt? So instead of fixing the problem, we’re going to throw US Taxpayer Dollars at it. $86 billion of them. Over 200 union plans. Teamsters, Grocery Workers, Electricians, etc. All unionized, all mismanaged – which is highly common in unions. That’s why 200 plans are all failing. Joe, Nancy, and Chuck are taking care of their union buddies. On us.
Did you know… That San Francisco…$650 million in the red on their budget with all of their programs they put in they can’t afford… is getting $600 million from this bill to bring them closer to balanced? That’s right – Joe, via Nancy, is paying off 92% of their budget deficit. On us. This, while the state of California is seeing a $10 billion surplus. But the Feds are paying San Fran’s bill.
Did you know… That the bill swings money to primarily blue states, starting with NY, IL, CA, and NJ? Based off a formula for unemployment and other factors, that basically focus on who shut down the hardest? $350 billion is going that direction. Did you know that at least 21 states ended up in surplus from 2020 – some pushed over the goal by the last 4 covid packages passed before Joe took office? But Joe is sending more money out, when most states actually don’t need it.
I could go on … I didn’t even touch education dollars, or that $1 trillion is still left to be spent from the past 4 bills – but here’s what everyone needs to realize: Inflation is a direct response to a diluted dollar. We have diluted the dollar by huge amounts over the last few months – and this bill almost doubles our total covid relief spend to a near 25% increase in the overall national debt. That is bad. Inflation doesn’t gradually come in – in these cases it starts and grows rapidly. Then everybody is all “oh my gosh, why are interest rates going up dramatically?” – recall our last bout with massive inflation? No – most of you weren’t old enough. In the 70s and early 80s we had mortgage rates in the 10-15% range. 5x what is it now. But look at what’s now happening:
– With energy, within 18 hours of Joe’s exec order for killing the Keystone pipeline, oil futures jumped
– With Joe’s exec order on oil and gas leases being killed, OPEC started cutting production… driving oil futures way up.
– Did you notice the 45-cent increase at the pump in the last 4 weeks? We’re approaching $4 gas in Colorado again.
– And now we’ve heavily diluted the dollar on the ForEx market. Which means, in simple terms, it costs more of them to buy things. That is called … inflation.
We could have done this bill for 1/10th of what the congress and Joe passed. Literally. And like I mentioned – more is coming. Current estimates are for at least a 35 trillion deficit – based on Joe’s agenda – within the next 24-36 months. This has got to be brought under control. Seriously, folks. Think hard about what you do in 2022. There is no Trump effect to get all blustered about. There’s just this mess that 2020 has created.
