I am quite sure by now everyone has heard the Senate passed the $2 trillion economic stimulus package to “fight off” the economic crisis brought on by the Wuhan corona virus crisis. Complete bi-partisan support 96-0, no opposition. Shortly after the Senators got the heck out of town. The House, when they(some of them)return to town, has promised swift passage(voice vote), then off to the President to sign. Of course a roll call vote could be forced therefore requiring House members return to D.C. that would slow things down a bit or for quite some time.
Keep in mind that this is the third corona virus package and a fourth is in the works.
Given all of the debate, posturing and the rest that goes along with Congressional “negotiations” I noticed one thing missing that is a mainstay with normal non-crisis partisan debates and posturing.
The question not asked was, How is this going to be paid for?
When it is a partisan plan the other side and their talking heads without fail will ask , How will this be paid for? But this is a bi-partisan plan with no opposition no one cares about the cost or how to pay for it. Not a one has said, Wait a minute we can’t afford that.
Was not all that long ago that a current sitting member of Congress suggested that two $1 trillion coins be minted and placed on deposit with the Federal Reserve. Then I got to thinking, How can you deposit money that you do not have?
That brings me to this. We are told that we as a nation are in debt, a debt that exceeds our GDP. If we are that deep in debt you would think that those in charge of the “purse strings” would be very careful when money must be spent. But they are not, they spend and give away money hand over fist like there is no bottom. We have been told for years that there is a national debt.
Suppose for a minute that there is no national debt. Suppose we have been lied to about that. The recent first time buyers of firearms have been lied to forever and only realized the extent of the lies when they attempted to make their purchase. They say that repeating a lie often enough does not make it a truth, however if you repeat a lie often enough it can be taken for the truth.
We are told we are in debt and swallow that hook, line and sinker. Has anyone out side of government ever seen the balance sheet from the Treasury? Has anyone ever seen the receipts and expenditures from the Treasury?
This little tidbit comes from a speech given by Patrick Henry 07 June 1788. …Another beautiful feature of this Constitution is the publication from time to time of the receipts and expenditures of the public money. This expression, from time to time, is very indefinite and indeterminate. It may extend to a century….
I will add this. It may extend to forever.
While I am here I might as well get this out of the way. Has anyone outside the top echelon of the Federal Reserve ever seen the balance sheet?