Posted on 04/28/2020 11:15:48 PM PDT by RandFan
Rep. Thomas Massie, who attracted widespread attention as well as derision from colleagues for trying to force a recorded vote on the $2 trillion coronavirus relief bill last month, fired back at his critics in an interview Tuesday with Fox News -- saying the election season has caused certain GOP lawmakers to “abandon some of their conservative principles.”
The Kentucky Republican voiced concern over the historic price tag for rescue packages that have swept through Congress in a matter of weeks. The four bills, which largely enjoyed bipartisan support and were signed by President Trump, totaled nearly $3 trillion, and another could be under consideration. All this has prompted warnings from nonpartisan fiscal scorekeepers about a looming deficit and debt explosion.
Massie argues these bills -- filled with small business loans and industry lifelines and stimulus checks and unemployment aid and money for hospitals -- don’t adequately address the economic fallout.
“The last two bills have been like blood transfusions to a bleeding patient, and the problem is we haven’t stopped the bleeding yet—the patient is our economy,” he told Fox News. “What we need to do is we need to stop the bleeding. We need to get America back to work and that’s the only thing that’s going to turn everything around.
Massie went on to say the election year is also clouding Democrats’ decisions, noting “they want to be Santa Claus and want to give money away because it will help them get re-elected.”
(Excerpt) Read more at foxnews.com ...
This isn’t about who deserves bail out money. Its about getting X number of dollars issued at zero interest into circulation.
Trump is bankrupting the Federal Reserve. Many of these new dollars are not being collateralized by a US Treasury department debt instrument. They are being backed by a congressional resolution if you will that says the government may at some point in the future repay the loan.
In effect this stimulus is an unsecured loan. Trump has a plan. Trust the plan.
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