On the Monday morning TV news, I heard about President Trump signing the “stimulus” bill. His desire for $2,000 per American was reported, but much of what the TV news media had to say about him was negative. All that aside, the reporting of the bill failed to deal with the cost.
First of all, the “stimulus” portion of the $2.5 trillion legislation is apparently just under $1 trillion ($900,000,000,000). This means the bill costs every American man, woman and child $2,744, and out of that cost, every American adult with an income under $150,000 gets back $600.
Read that last sentence again: You get $600, you pay $2,744.
Why is nobody interested in the national debt? I know there are things like unemployment assistance in the bill as well, which will hopefully benefit people. But the thing is loaded with pork-barrel spending.
As an indication of how little people appreciate the concerns of the national debt and deficit spending, it took me more than 10 minutes searching online to find out the cost of this stimulus bill signed by President Trump Sunday. I read a Forbes article online that was supposedly about “What this bill means for you.” It didn’t even mention the cost of the bill! It only explained how you can weasel the most out of it for yourself.
Americans, including the news media, should be ashamed about our lack of concern for our nation’s debt. It will kill us. Depending on how you count it, interest on the national debt is the fourth largest expenditure of our federal government, and some say 30% of those interest payments are paid to people outside our own country.
So, Uncle Sam, keep it up! Spend our kids’ money on financing the national debt rather than on programs that can help us.
