Tuesday, July 20, 2021

Free lunch

Mayor Smith is running for reelection and tells his constituents in his first term he build a new school and a new fire house and if elected he will build a new city hall. His remarks could be reinterpreted. During my time I spent $2 million of your tax dollars to build a fire house and $3 million of your tax dollars to build a new school and if reelected I promise to spend $4 million of your tax dollars to build a new city hall. President Biden leaned forward and whispered, I just gave you $1.9 trillion dollars. What happened was the federal reserve authorized the creation of $1.9 trillion of new money. Who ever said there was no free lunch?

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