Issues & Insights

The Greatest Financial Swindle In American History

Excerpt provided by the Committee to Unleash Prosperity. Sign up to receive a free subscription to the full weekday Unleash Prosperity Hotline newsletter by clicking here: https://committeetounleashprosperity.com/hotline/

We are hard-pressed to identify a single redeeming feature in the 600-page “stimulus” bill that has now passed the Senate and House on a strict party-line vote.

You’ve got to hand it to AOC and Bernie. These nutcases actually pulled it off!

Some of our friends point to the dollars for vaccine distribution. We don’t object to that, though if we simply let the private sector handle the vaccine program, odds are it would happen faster. The other $1.7 trillion is negative for the economy and jobs. There is nothing in this bill that stimulates the supply side of the economy — i.e., the production of goods and services.

Only one Republican amendment passed. It was an amendment by Rob Portman to shrink the $400 unemployment bonus to $300 a week. We’re glad somebody has been reading our work. We estimate this change will reduce the employment losses from 6 to 4 million. Unfortunately, the Democrats also voted to make UI benefits nontaxable giving welfare an advantage over work.  

An amendment by Todd Young to remove the 15 weeks of paid leave for federal employees who want to take time off to oversee virtual schooling failed on a party-line vote. That means every Senate Democrat supports up to $21,000 of paid leave for federal bureaucrats.

Most amazing to us is that after the expensive failure of the Obama $830 billion stimulus — the infamous “shovel-ready projects” canard — Democrats have doubled down, actually nearly tripled down. Their preposterous argument that Obama’s policies failed only because he didn’t spend enough, flies in the face of what the Dems all promised 12 years ago which is that we would have 4% growth for as far as the eye could see. They never came close and as the chart below shows, the “stimulus” was a giant jobs loser.

Thankfully the economy is prepped for a big recovery in the months ahead due to Trump and the vaccines and the end of the left’s economic lockdowns. Biden will no doubt take credit for the spring back to life. But debts and bills have to be paid, and we expect after the drinking binge is over America will suffer one helluva hangover.  

Wait until you see the $1 trillion tax hike coming to pay for the binge.

Those CDC ‘Neanderthals

President Biden’s response to the many states finally following Florida’s lead and lifting capacity limits last week was to call them Neanderthals, so it was awkward when his own CDC did this:

It seems like just yesterday they were describing these detention centers at the border as concentration camps full of cages. We’re glad that the CDC under Biden has agreed to lift capacity limits on something, but how ironic that it is this of all things? 

There’s more:

  • Goodbye COVID
  • WHO doesn’t know anything
  • Andrew Cuomo shrinks

Click here: https://committeetounleashprosperity.com/hotline

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The Committee to Unleash Prosperity

7 comments

  • You are in the minority, since 70% of Americans are in favor of it.
    Democrats will remind the voters who gave them relief from the Trump Economy.

    • What are you smoking? 70% of Americans are in favor of it? Of what? Please cite your sources for this or be quiet.

      The Trump Economy was booming before COVID. Lowest unemployment rates. A great investment economy, and people working at good jobs. Biden destroyed 100k jobs in his first month, opened the borders, signed away protections for the US worker through executive orders that he could not even explain or identify. Relief from the Trump Economy…laughable.

      • With Congressional Stimulus Fight Looming, 76% of Voters Back $1.9 Trillion Plan, Including 60% of Republicans
        89% of Democrats said they support the proposed COVID-19 aid package
        President Joe Biden and Vice President Kamala Harris meet in the Oval Office with 10 Republican senators, including Mitt Romney (Utah), Bill Cassidy (La.) and Susan Collins (Maine), about Biden’s proposed $1.9 trillion coronavirus stimulus package on Feb. 1, 2021. (Doug Mills /Getty Images)
        By Claire Williams
        February 24, 2021 at 6:00 am ET

        7 in 10 independents support the stimulus proposal, compared to over 1 in 5 who oppose it.

        3 in 10 GOP voters say they somewhat or strongly oppose the stimulus plan.

        Overall, 17% of voters say they oppose the $1.9 trillion plan.

    • 70 percent of Americans probably have absolutely no Idea the amount of pork that is included in this so called “stimulus” or the timing of the distribution of it.

  • Speaks to the evil uniparty. Republicans are always willing to fall in line behind evil Democrats – getting along to go along; or maybe that should be “getting along to get rich”. Vile people.

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Issues & Insights is run by the seasoned journalists behind the legendary IBD Editorials page. Our goal is to bring our decades of combined journalism experience to help readers understand the top issues of the day. We’re doing this on a voluntary basis, because we believe the nation needs the kind of cogent, rational, data-driven, fact-based commentary that we can provide. 

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