$1.9 trillion created and spent without Republican support with 90% of funds unrelated to health measures and / or vaccinations. The American Rescue Plan, mostly unnecessary, will add to the national debt and weaken the dollar, while increasing the dependency of citizens on the federal government. Yet, yesterday the Biden Administration ‘leaked’ their plan for another $3 trillion in infrastructure and other domestic spending. Further plans include green technology investment, education aid and student debt relief as well as social justice initiatives. No mention of securing our border or ensuring our military can meets new threats.
As we noted two weeks ago, zero money exists in the federal budget for this, so all spending will be debt-based. (https://therepublic1776.com/2021/03/01/free-government-money-created-out-of-thin-air/) Currently, the U.S. Senate is tied and the U.S. House Democratic majority narrowed significantly after the November election. We have a President who is incapacitated and incoherent. The Democratic mandate appears weak, at best.
Most Americans, and most members of Congress want to see America’s roads, bridges and airports updated, safe and efficient. At what cost does all this fabricated spending have? The rebuttal is usually that “it is an investment in our future” and that jobs will be created and businesses will prosper- increasing tax revenue. Sort of sounds like the trickle down economics theory Democrats love to lambast.
With over $7 trillion spent on “covid relief” to date and no attempt to lower spending elsewhere, tax policy is likely to shift sharply. Taxes and debt levels are sure to rise under Democratic leadership as a daily barrage of policy proposals circulate around Washington, D.C. As Americans face higher prices and increased competition for jobs and housing, tensions are sure to rise. New, high-tech products, gadgets and services entice Americans to spend freely and incur debt at relatively low rates. Meanwhile, savings rates are abysmal and America’s fixed income seniors feel increasing financial pain as savings accounts, bond yields and Social Security benefits do not rise accordingly to meet inflationary pressures.
Tomorrow, we look at physical security in America, examining gun control, border security and the state of our military. Don’t miss an article. Subscribe below.
Will health restrictions remain going forward as continual fear over new covid variants, other viruses including influenza and other communicable diseases is propagated? Will we accept the “new normal” of radical federal programs, spending and loss of individual freedoms in order to protect the common good? For a refreshing perspective, check out this recently released music video!
Thanks for checking out our podcasts. We are preparing a release of part 3 of 2020: American Tipping Point and a special podcast on the American Revolution.
Episode 11: Eisenhower, D-Day and Responsibility – The Republic 1776
- Episode 11: Eisenhower, D-Day and Responsibility
- Episode 10: The Left V. George Orwell, Ben Franklin, Abe Lincoln and Thomas Jefferson
- Episode 9 Free at Last: M.L.K. and systemic racism
- Episode 8 Ronald Reagan, "We are a nation that has a government — not the other way around"
- Episode 7 George Washington
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