This week, Congress’s main focus will be on the unprecedented infrastructure and social welfare spending bills. Together, these bills would cost over $4.5 trillion. Unless this spending plan is cut way back, it will devastate our economy and heavily impact the personal budget of every American. Let’s take a factual look at what we would be getting and how it would impact your life.
One trillion dollars alone is an amount that is very hard for the mind to comprehend. One trillion ants would weigh 3,000 tons. One trillion stacked pennies would make a tower reaching 870,000 miles high or almost four times the distance to the moon. One trillion seconds would be 31,688 years. And the Biden Administration’s plan is 4 1/2 times these examples.
Don’t take the bait that this spending would be paid for by taxing the rich and corporations. Taxes don’t take money from the rich and corporations. The rich and corporations just pass the tax expenses to the consumers through price increases and lower wages. The most affected victims of higher taxes are the poorest Americans. Ultimately, that $4.5 trillion will cost each man, women, and child about $13,600. That is $54,400 for a family of four.
And what are we getting for that? Although, there are a lot of pork and pet projects–like a study to improve the Kennedy Center–in the $1 trillion infrastructure bill, roads, bridges, and ports would be getting much needed upgrades. On the other hand, the $3.5 trillion American Families Plan is a massive social entitlements give-away scheme. It includes free pre-K; free community college; 12 weeks of family leave; lowering the age of Medicare availability and adding dental, vision, and hearing coverage; lowering drug costs; climate change fines and restrictions; increased housing subsidies; green cards for millions of migrant workers; and much more “free stuff” that is not the purpose of the federal government to fund.
“But wait!” As the cheesy TV ads shout, “There’s more!” Several studies and analyses have concluded that the real cost of these socialist spending proposals is over $5.5 trillion. There seem to be many hidden costs that are not factored into the publicized estimate.
The Democratic Senate is determined to avoid the filibuster in voting on this historical spending by using the procedural “trick” of budget reconciliation which is not designed for this kind of legislation.
This proposed additional spending is after already spending $5 trillion on the nation’s COVID relief and stimulus. It will add to the already bloated $29 trillion national debt which is placing America on the cusp of bankruptcy. Right now, what Congress should be looking at is a strategic pause on this legislation. What if COVID mutations continue? What if the current inflation trend accelerates into a serious recession? What if we have another major terrorist attack or international conflict? America is in a perilous period right now because of many challenges. This is not the time to rush into the biggest spending spree in the country’s history.
If you have not done so, contact your Congressman and Senators now urging them to vote against this fiscal insanity.