U.S. “COVID RELIEF” WAS ENOUGH TO GIVE EVERY TAXPAYER $41,870
Via: Foundation for Economic Education:
The sheer immensity of this spending is hard to grasp. For context, $6 trillion is more than one-fourth of what the US economy produces in an entire year, according to Fox Business. The COVID spending blowout is at least eight times bigger than the (inflation-adjusted) price tag of President Franklin Delano Roosevelt’s “New Deal.”
Moreover, the COVID spending bills have all lost huge sums of money to unrelated carve-outs, politician pet projects, corporate bailouts, fraud, waste, and worse.
…
The numbers here really are quite damning.
For the same $6 trillion in expenditure, the government could have given every federal taxpayer a $41,870 check. Or, to think about it a bit differently, it could have written every American roughly an $18,181 check.
Comment
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Comment by Doc Vega on March 25, 2021 at 6:45am
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Think of the economic stimulus that would have generated. My Dad once told me how the US got out of a recession in the late 50's he said Eisenhower got on TV and told Americans to go out and spend $20.00 and suddenly the recession was gone.
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