Although former President Donald Trump advised against useless lockdowns, citing that it would cripple the booming economy, the Democrats pushed ahead, hurling America into yet another recession. And as predicted, the economy stumbled as many businesses went under and millions of people lost their jobs. Seeing the hardships Americans were facing, the federal government approved massive stimulus packages meant to boost the economy. There was the CARES Act for $2.2 trillion in March 2020, HR 133 in December 2020 for $2.3 trillion, and the American Rescue Plan passed in March 2021 for $1.9 trillion. While meant to help citizens, a new money tracker reveals that the government spent so much on stimulus packages, they could have given each American taxpayer $41,000, leaving many to wonder where the rest of the money went.
As the Committee for a Responsible Federal Budget tracker shows, the government distributed a total of $5.9 trillion using legislative efforts alone. As mentioned above, if that money was divided up among the 143.3 million taxpayers – each would have received $41,000. Even more surprising, if the money was given to every citizen, they would have received $18,000. But as many can attest, only a fraction of that number was collected.
And if you were wondering where the rest of the money went, Brad Polumbo of the Foundation for Economic Education has your answer. He noted, “The COVID spending bills have all lost huge sums of money to unrelated carve-outs, politician pet projects, corporate bailouts, fraud, waste, and worse. In the latest $1.9 trillion package, more than 90 percent of the spending is not directly related to containing COVID-19. Only 1 percent of the money, about $15 to $20 billion, is spent on vaccines. Meanwhile, hundreds of billions go to bailing out poorly managed state governments’ budget holes that predate the pandemic and $86 billion rescues failing pension plans. Meanwhile, billions more go to Obamacare expansion and subsidizing public schools long after the pandemic.”
So there you have it, while the government claimed the stimulus packages were meant for the American people to withstand the pandemic, it turns out the Democrats just wanted to print money to help cover their own losses. And at the end of the day, it’s the American taxpayer who is stuck with the bill.
This piece was written by Jeremy Porter on July 21, 2021. It originally appeared in DrewBerquist.com and is used by permission.
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