Posted on 04/25/2020 6:13:54 AM PDT by Twotone
Republican Sen. Rand Paul of Kentucky excoriated his colleagues in Congress over their efforts to provide relief to Americans while putting the country in debt instead of opening up the economy.
"If you print up billions of dollars and give it to people, they are unlikely to spend it until you end the quarantine," said Paul in his speech on the Senate floor on Tuesday after returning from his battle with coronavirus.
He went on to point out that there were some studies showing that experts' predictions of mortality rates from coronavirus could be inaccurate and overblown.
"The virus is still dangerous," he added, "and we shouldn't ignore the risks, but we should put those risks in perspective!"
Paul said that these randomized studies show that America can manage the coronavirus without continuing the "draconian" lockdown policies. Plagued by a lack of commerce, not money
"So today I arise in opposition to spending $500 billion more. The virus bailouts have already cost over two trillion dollars. Our annual deficit this year will approach four trillion dollars!" he said.
"We can't continue on this course!" Paul added.
"No amount of bailout dollars will stimulate an economy that is being strangled by quarantine!" he exclaimed. "It is not a lack of money that plagues us, but a lack of commerce!"
Paul praised the numerous efforts from Americans to combat the coronavirus pandemic, then returned to the subject of the debt amassed by the relief bills.
"With the recent $2 trillion bailout we are borrowing faster than we have ever borrowed before!" he continued. "Had we practiced sound budgeting in the past, we would have been better, significantly better positioned to weather this storm."
He pointed out that the most recent statistics said more than 20 million Americans are unemployed.
(Excerpt) Read more at theblaze.com ...
Don’t we know? Bread lines are good for a country! Feel the Bern.
Luckily that goof is out. However, Sanders’s wish looks to be coming forth. So sad.
He recently told us our portfolio has done the best of all his clients
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He probably tells all his clients that.
And that was one of his more “lucid” moments.
He said that on the Senate floor when the other 99 members are hiding at home. Until Congress is willing to return to D.C. and return to their offices and meet on the floor of their respective chambers then their call to reopen the country is the height of hypocrisy. Why should other people do what Congress won’t?
Looking at plots talk show host Chuck Harder put out 35 years ago...
We went over $1T in 1982. I was mad at Ronnie...but nothing like I’m mad at Congress in 2020
Chuck asked:
*The 30-year failed policy of “Free Trade” has exported out jobs, industry and factories offshore.
*A “Service Economy” simply shuffles existing money...compared to a poker game...Such an economy cannot create money to pay a debt unless inflation takes place.
*An “Industrial Economy” creates wealth by making a thing of value from raw materials.
*Our National Debt is backed by the “Full faith and credit of the American people.”
*Ask your leaders : “Where will the money come from to pay our national debt?”
*Stop our financial bleeding while there is still time.
This is why markets (of all forms) should represent reality and not be artificially inflated with debt. It gives politicians cover to be witless tyrants, while all the costs of it come on next generation.
Hopefully President Trump won’t trash Rand for speaking truth on this!
This is true. Government becomes the only player left to turn to. That said, it will be interesting to watch the Left continue to try and spend more money with the skyrocketing debt we have. There’s no headroom left to pay for their utopian schemes.
while all the costs of it come on next generation.
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Everyone knows this except for the next generation. They’ve been had big time and they still haven’t figured it out yet.
Their trusted “teachers” told them government spending is good. Man, are they in for a rude awakening.
Chuck Harder had a great radio show. Used to listen to him on radio station out of Big Bear, CA.
“Fiery”? No
Pipsqueeky? Yes
The FIRE economy is great for the fat cats, but it is killing us. But the Fed Gov is just a dumpster fire and has been for decades. This ends very badly.
I don’t think people really realize we have added $35 trillion to the national debt in only 30 years. The rate is accelerating. With that debt, the prime interest rate will never be allowed to go much above zero again, causing bubble after bubble that require more goverment bailouts. If we hit $40 trillion by 2025 or so, how much longer after that before we hit $50 trillion I don’t know if we will ever again see a budget deficit less than $1 trillion each year. I don’t see it going forward. The next time we have a 1/2 tillion dollar annual budget deficit, I am going to throw a party.
They are flat killing us.
For years Chuck’s show followed Rush in the local market. Looking back, Chuck was right a lot more than he was wrong. Globalists and elites? He was spot on and ahead of his time. Face on Mars? Well, at least Richard Hoagland’s visits to the show were entertaining.
Amen. At this time, there should be no spending increases without (at least) an equal amount of spending decreases.
bttt
Nobody’s talking about hyperinflation, but that’s my real fear.
By the time the economy returns to “normal”, we may need a wheelbarrow full of worthless money to buy bread & other basics, like in Germany post-Versailles Treaty.
We’ve already seen wages plateaued at 1980 levels for the past 20 years, while housing & university costs skyrocket.
Now this.
The post-corona economy may well push millions more into homelessness.
Civilizations on Mars were kookzone stuff for sure. He was also a bigtime treehugger. But he was great to listen to in those pre-internet days to get info the MSM would not delve into.
Let my people go . . . Back to work!
I hope Rand Paul gives a big hug to the “squad”.
We have both, we prefer in our possession.
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