Shrinking the dollar 1

Seriously dangerous inflation has begun and will rapidly increase.

Senator Rand Paul decried the “Corona relief” bill, 6,000 pages long, passed late last night (December 21, 2020), without any member of Congress having read it. And he cried a warning.

Breitbart reports:

Sen. Rand Paul (R-KY) blasted the $2.3 trillion government spending bill — $900 billion of which is dedicated to coronavirus relief — criticizing Republicans for voting to print money with impunity. …

Rand Paul rightly called it “a deficits-don’t-matter disaster“.

He continued:

This bill is free money for everyone. … And yet if free money were the answer, if money really grew on trees, why not give more free money? Why not give it out all the time? Why stop at $600 per person? Why not $1,000? Why not $2,000?

Maybe these new free-money Republicans should join the everybody-gets-a-guaranteed-income caucus. Why not $20,000 a year for everybody? Why not $30,000? If we can print up money with impunity, why not do it?

The treasury can just keep printing the money. That is, until someone points out that the dollar no longer has value. 

To so-called conservatives who are quick to call out the socialism of Democrats: if you vote for this spending monstrosity, you are no better. When you vote to pass out free money, you … abandon forever any semblance of moral or fiscal integrity.

He assessed that the difference between the parties on this issue “is less Adam Smith versus Marx and more Marx versus Engels.”

[He] further explained the country’s fiscal situation, noting the nation brought in $3.3 trillion last year and spent $6.6 trillion.

The deficit was a “record-busting $3.3 trillion,” he said … [though] “such extraordinary spending habits have been going on for decades.”

“Today’s money is gone, so Congress is spending tomorrow’s money,” he said, noting that the country finds itself $27 trillion in debt today with no cuts, offsets, or prioritization in Congress.

Spend all this money and leave the future to figure itself out …

He also pointed out that Congress is helping to perpetuate lockdowns “by supporting states implementing rules that are arbitrary and unscientific”.

And –

Governors are picking winners and losers while family businesses are being wiped out. The need for help is real … but it’s clear that government has worsened the economic damage and acted as the biggest obstacle to economic recovery.

Think Venezuela, comrades.

Posted under Economics, United States, Venezuela by Jillian Becker on Tuesday, December 22, 2020

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