….Many American households will get free money after Mr. Biden signs it into law.
The bill provides up to $1,400 in direct payments to lower Americans, extends emergency unemployment benefits, and allocates hundreds of billions for VirusCasedemic vaccines and treatments and to schools, state/local governments, and ailing industries from airlines to cinemas.
This is the big kicker: an eligible family of 4, for example, gets $5,600 in a direct payment, which could come shortly after Mr. Biden’s signature this week.
The $1.9-T in spending amounts overhead of another $5,487 per American not counting the lessening of purching power from primarily food and fuel inflation and the falling USD.
But, what those short sided lower income Americans have not taken into is that just 9% of the spending is targeted for their relief and a large portion of the $1.9-T is deferred for Democrat pork projects and deferred for use later as was about $1-T from the other recent aid/relief/stimulus packages. Thus, diminishing the Democrats’ argument this relief is immediate and urgently needed.
In addition to payments to schools that do not require them to return to in-person learning, included in the bill are expanded tax credits during the next year for children, child care and family leave plus spending for renters, feeding programs and people’s utility bills. There is aid for black farmers, bankrupt blue state pension systems, and subsidies for consumers buying health insurance and states expanding Medicaid coverage for lower earners.
Shayne, Bruce and I see it like this:
For Biden and all Democrats, the legislation is a billboard on which they have hung their core beliefs; that government programs can be a benefit to millions of people (not a bane) and that spending huge sums on such efforts can be a cure (not a curse).
Bruce’s best comment is why wouldn’t they approve for it is free money for which they have put forth no work effort plus the more children one has whether in wedlock or not, the more money they get!
Note: The progressive Democrats’ are infuriated that the $15/hr minimum provision was dropped
The Democrats have embrace 3 dynamics: their control of the White House and Congress, polls showing robust support for Mr. Biden’s approach and a time when most voters, and many politicians care little that the national debt is headed toward $22-T.
This bill did not focus on COVID relief!
Have a healthy day, Keep the Faith!