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Dec 22 2020

COVID-19 Porkfest Spends USA Toward Ruin

The coronavirus relief bill that passed the House and Senate yesterday attempts to address a temporary problem by helping to trigger a far more serious crisis. America is spending itself into collapse.

The bill is a looting spree. Much of the money will be wasted overseas:

Among [the provisions] are a pair of assistance programs in Pakistan, whereby $15 million will be put toward “democracy programs” and $10 million will be distributed to “gender programs.”

Countries throughout the world, not all of them friendly, stand to receive mountains of American cash in the name of the ChiCom virus. Communist Vietnam will reportedly get $169,739,000, Bangladesh $198,323,000, Venezuela $33 million. Sri Lanka gets $15 million to refurbish a ship.

Even AOC — an avowed socialist — seems to be appalled at the irresponsible manner in which Congress wastes other people’s money. She complains that representatives had only a few hours to review the 5,593-page $1.4 trillion blowout of a spending bill.

There are limits to how much money can be thrown to the four winds when the economy is not producing the wealth to back it up. Every penny has to come from somewhere. Either they raise taxes into the stratosphere, choking off any hope of a return to the pre-lockdown economy, or they tax every penny we have saved by inflating the currency, possibly to Weimar Republic levels. Probably, they will do both.

On a tip from Henry.


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