Posted on 05/20/2022 11:36:35 AM PDT by EBH
Or you can buy the only grocery item that’s apparently inflation-proof: 99-cent AriZona iced tea.
Context The annual Inflation rate currently stands at a 40-year-high of 8.5%, the highest level of inflation since December 1981. As prices surge, two categories have particularly hit Americans’ wallets.
One is fuel, which reached an all-time record national average of $4.33 per gallon in mid-March, and fuel still remains at a near-high $4.12 per gallon as of this writing. Another is food, which as of February had experienced 7.9% year-over-year inflation.
What the bill does The Food and Fuel Family Savings Act would give millions of Americans $600, to be used only for food or gasoline. The amount of the credit would also be reduced for those making above $40,000.
Children and dependents wouldn’t receive the money directly, but those who claim them as dependents would receive an additional $600 for each dependent. Non-citizens would be ineligible for the funds.
The bill was introduced in the Senate on April 7 as S. 4060, by Sen. Jack Reed (D-RI).
What supporters say Supporters argue the legislation provides much-needed relief on two key spending areas as prices surge, shielding the most disadvantaged from much of the economic effects.
“Hard-working Americans are not at fault for these global price pressures,” Sen. Reed said on the Senate floor when introducing the bill. “Yet these households, which often put a large share of their income towards basic necessities, are being forced to bear the burden of higher costs.”
“The average American household would receive $1,500. Using estimates from [economists], this payment should cover the additional $183 the average family will spend each month on food and fuel for the rest of 2022,” Sen. Reed continued. “In other words, our legislation would ensure households can put food on the table and gas in the car this year.”
What opponents say Republican opponents counter that this legislation is a Band-Aid that doesn’t cover the biggest source of inflation: surging government spending enacted by congressional Democrats. Indeed, this bill would add more such government spending.
Inflation “[gets] worse, in my view, if we do it the way the Democrats propose,” Sen. Rob Portman (R-OH) said on the Senate floor. “Because by adding more fuel to the fire — more stimulus spending, in this case, trillions of dollars — you’re going to stimulate more demand in the economy. And inflation happens when demand outstrips supply. So you have a lot of demand for something, but you don’t have the supply for it and it raises inflation.”
“And that’s exactly what many of us predicted would have happened back in March of [2021], when Congress did the same thing, $1.9 trillion. A lot of it was stimulus spending, and people said, ‘This is going to cause inflation,’” Sen. Portman continued. “And sure enough, it did. It wasn’t just me and other Republicans. It was some Democrats as well.”
Odds of passage The bill has attracted three cosponsors, all Democrats. It awaits a potential vote by the Senate Finance Committee.
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The word for today is "fungible". You can spend this $600 on food and gasoline and then spend your original food and gas budget on whiskey, hookers and day trading Twitter stock.
May this fiasco end Keynesian Economics and MMT.
This is like trying to cure lung cancer by smoking more cigarettes.
“One is fuel, which reached an all-time record national average of $4.33 per gallon in mid-March, and fuel still remains at a near-high $4.12 per gallon as of this writing. Another is food, which as of February had experienced 7.9% year-over-year inflation. “
Both underestimates and both leading indicators.
Big pain on the horizon.
And political turmoil.
Free money!!!
Wonder what restaurants and gas stations will do with prices once everyone can afford it?
Post-17th Amendment ratification, election year desperate Democrats are once again rescuing us from themselves.
Next, not only are we much aware that the 2020 elections were allegedly stolen by desperate elite Democrats, but we now also know that corrupt Congress cannot be expected to police itself under Section 3 of the 14th Amendment to get rid of bad-apple, elite Democratic and RINO lawmakers.
"14th Amendment, Section 3: No person shall be a Senator or Representative in Congress, or elector of President and Vice President, or hold any office, civil or military, under the United States, or under any State, who, having previously taken an oath, as a member of Congress, or as an officer of the United States, or as a member of any State legislature, or as an executive or judicial officer of any State, to support the Constitution of the United States, shall have engaged in insurrection or rebellion against the same, or given aid or comfort to the enemies thereof [emphases added]. But Congress may by a vote of two-thirds of each House, remove such disability."
The fastest remedy for a very corrupt Congress...
The bottom line is that, again, since we'd be fools to expect Congress to enforce Section 3 on itself, Trump's red tsunami of patriots need to do the following. Patriots need to effectively enforce that section by peacefully exercising their voting power to remove desperate Democrats and RINOs from federal and state offices in 2022 midterm elections, replacing them with Trump-endorsed candidates.
So whenever I say that I'm going to "Section 3" federal and state lawmakers in November, y'all will know what I mean.
Insights welcome.
“And that’s exactly what many of us predicted would have happened back in March of [2021], when Congress did the same thing, $1.9 trillion. A lot of it was stimulus spending, and people said, ‘This is going to cause inflation,’” Sen. Portman continued. “And sure enough, it did. It wasn’t just me and other Republicans. It was some Democrats as well.”
Why does Rob always talk like this? Went to Dartmouth and Michigan Law, and yet is a mush mouth. "Iba sayba this be causingba inflationba."
Here, Rob, let me show you how it's done.
"Taking American tax dollars and proposing yet another free-money giveaway?! That's what Jack Reed wants to do to you, Joe Taxpayer. He's only a little further Left than his communist namesake. [scattered laughter on the Senate floor and gallery][pause] The Democrats are responsible for this! Match-throwing arsonists burning up your buying power! The Democrats in this Senate gave away nearly $2 trillion dollars just 14 months ago -- it's not just gone forever, but their fraud upon this nation has ignited into a firestorm of inflation! $5 gas! $6 milk! If you can't feed your children and keep your car running, Blame. The. Democrats. And send them packing in November!
I yield the balance of my time back."
What is the definition of insanity?
Doing the same thing over and over and expecting a different result each time.🙄
Only $600? We can do better than that. Why not further destroy our country by making the check for $1000? Or maybe $1200?
It is $600 per person/dependent.
family of one $600
family of four $2400
family of six $3600
There isn’t any money and if they hand out money that we don’t have then they make inflation worse. Brilliant. Yeah, do that.
More proof that the DemonRats have no idea what causes inflation.
Betcha that get changed for the worse before the final vote.
Buying votes with our money.
If by that you mean buying off the voters, especially those who are blindly loyal to the DEMs, aren't very intelligent or are apathetic with regards to politics in this country, yep.
“The administrative costs will exceed the amount of the checks.”
no kidding ... every retailer in the U.S. would have to reprogram all of their computers for every item they sell to tag it food/not-food for this “special” money ... of course, a few hundred thousand entrepreneurs will gladly sell fake or grossly overpriced “food”, returning gobs of actual money for change, less a “processing” fee of course ...
the whole idea is complete insanity and shows the stupidity and desperation the leftist democrat fascists have sunk to ...
Democrats double down on inflation to solve it.
1. Improves zero about the cost, supply & demand and market for food or fuel.
2. Encourages and subsidized current inflation stoked prices.’
3. Will in affect help sustain, not slow, inflation.
Simplies the problem as merely being able to pay for inflation prices not the causes and does zero about the causes.
Why?
In part the Dims do not want to improve conditions rleated to the causes - like vastly increasing U.S. fossil fule production, and in part in other ways they know not how to solve the inflation problem. So, as to be expected, theri soultion is to thrw moneu at it. From where? Borrrowing more. Which will again add inflationary money printing to the fire. Stupid is as stupid does.
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