Friday, January 7, 2022
Free money
There are complaints that the Covid money is not being spent to fight Covid but on peripheral issues.
It started with the $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act of 2000 and the nearly $900 billion stimulus included in the Consolidated Appropriations Act of 2021. Most recently the $1.9 trillion American American Rescue Plan was signed into law. Putting all this money into categories gives an idea of what went where.
Direct payments $861 billion
Unemployment $594 billion
Small business $756 billion
Community development $379 billion
Transportation $159 billion
Schools $289 billion\
Rent assistance $63 billion
Nutrition and agriculture $73 billion
Post office $20 billion
Child care $55 billion
Broadband $39 billion
Covid relief fund $150 billion
Employee retention $55 billion
The government is now proposing Build Back Better at a real cost of $5 trillion and much of this will once again be direct payments to the people. Can the government just keep creating new money and sending checks to the people and if not what is the down side.
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