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| Photo: Alex Wong/Getty Images |
Later this week, the House of Representatives is expected to consider a massive legislative package that is being sold as another relief measure for the COVID-19 pandemic. However, the legislation is stuffed with provisions that have nothing to do with the disease or economic hardship, and in many cases would actually slow the economic rebound and destroy jobs.
Here are crucial facts about the package that Americans should be aware of:
1. It Adds Over $14,000 Per Household to the National Debt
The pandemic, coupled with its effects on the economy, led to an unprecedented amount of federal spending. In fiscal year 2020, it was over $50,000 per household. This year we can already expect another $45,000 per household.
Despite the fact that the unemployment rate is 6.3%—which is not ideal, but not a crisis—and despite the fact that COVID-19 hospitalizations are plunging, Democrats in Congress and the Biden administration are pushing for a package that would send spending well above last year’s record.
The total national debt has risen to $27.9 trillion, or more than $215,000 per household. Adding trillions more to the debt adds risks for the future.
Since we are unlikely to see a balanced budget any time soon, every penny of debt on the books today will need to be refinanced. Even though interest rates are now low, we have no way of knowing what credit markets will demand in years to come.
Just as a responsible middle-class household would carefully consider whether to add $14,000 in debt, Congress must be cautious rather than reckless with the nation’s finances.
2. It Is a COVID-19 Bill That Treats COVID-19 as an Afterthought --->READ MORE HERE
President Joe Biden’s coronavirus relief package includes $1.5 million for the Seaway International Bridge, a pet cause for Democratic Sen. Chuck Schumer.
The $1.9 trillion American Rescue Plan, released in full by House Democrats on Friday, includes $1.5 million for the “maintenance and capital infrastructure activities” of the Seaway International Bridge in Massena, New York.
The bridge, which connects New York to Canada, is a priority for Schumer, the Senate’s majority leader, The Wall Street Journal reported.
During his tenure, Schumer has backed numerous bills and measures involving the Seaway International Bridge and its surrounding area.
In 2016, Schumer fought against an attempt to eliminate funding for the Department of Transportation subagency that oversees the Seaway in Massena. --->READ MORE HEREFollow links below to related stories and resources:
'WJ Live': You Won't Believe What the Dems Buried Inside the Next COVID Relief Bill
A heaping helping of 'liberal pork'
USA TODAY: Coronavirus Updates
WSJ: Coronavirus Live Updates
YAHOO NEWS: Coronavirus Live Updates
NEW YORK POST: Coronavirus The Latest
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