We Must Have MOAR: Almost Everyone In Washington Seems To Agree That More Free Money Will Fix The Economy
Scoop Publisher Francesco Abbruzzino
There seems to be a growing consensus in Washington that the only way to fix the worst economic downturn in more than 70 years is by giving out much more free money. Joe Biden wants more “stimulus”, Treasury Secretary Janet Yellen wants more “stimulus”, and most members of Congress from both parties want more “stimulus”. Of course none of the previous “stimulus packages” that we spent trillions of dollars on fixed the economy, but they insist that this latest one will finally do the job. In addition to the 1.9 trillion dollar package that Biden has already proposed, Democrats in Congress are now pushing monthly direct payments to parents that have children under the age of 18. Needless to say, that proposal has overwhelming support among the American people, because direct socialist payments have become wildly popular since they were first introduced last year. But by borrowing and spending so much money, we are literally committing national suicide, but very few people are concerned about that at this point.
Even though the previous round of “stimulus payments” is still being sent out, Biden and his minions can’t wait to start sending out another round.
In fact, Biden insists that we literally “don’t have a second to waste”…
“We don’t have a second to waste when it comes to delivering the American people the relief they desperately need. I’m calling on Congress to act quickly and pass the American Rescue Plan.”
Quite a few independent economists are alarmed by the inflation that previous “stimulus payments” have created, but Treasury Secretary Janet Yellen is dismissing those fears.
Instead of focusing on inflation, she says that not sending out more free money would be an even greater risk…
“As treasury secretary, I have to worry about all of the risks to the economy, and the most important risk is that we leave workers and communities scarred by the pandemic and the economic toll that it’s taken, that we don’t do enough to address the pandemic,” Yellen told CNN’s “State of the Union” on Sunday.
“I’ve spent many years studying inflation and worrying about inflation, and I can tell you, we have the tools to deal with that risk if it materializes,” she continued. “But we face a huge economic challenge here and tremendous suffering in the country. We’ve got to address that. That’s the biggest risk.”
She is assuring us that inflation is not an imminent threat, and perhaps we should believe her.
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