Both Democrats and Republicans failed the Americans by over spending and leading the US on the path to bankruptcy. Interest payments on the debt totaled $522.7 billion in FY2020 alone. The federal debt is over $80,000 dollars per capita, which is about 50% more than the median income in the country.
The $1.9-trillion Covid bill contains $86-billion for pension funds. NY Times: “The $86-billion is a taxpayer bailout for about 185 union pension plans that are so close to collapse that without the rescue, more than a million retired truck drivers, retail clerks, builders and others could be forced to forgo retirement income.”
The legislation allots $350-billion to states that ruined their own economies with harsh business closures. It will extend unemployment and authorizes cash payments of $1,400 to individuals. There is plenty of other pork and Covid-19 related expenditures, including $46-billion for testing and tracing.
Kroger, which issued a $2 pay boost at the start of the pandemic, noted that it has already spent about $1.3 billion to reward associates and implement dozens of coronavirus-related safety measures since last March. The California Grocers Association filed a legal challenge to the mandate calling it unconstitutional.
Robinhood, the investment app for independent investors, banned its users under pressure from hedge funds, proving there is no free-market trading on Wall Street. Tucker Carlson said that Robinhood gathers information from its users and sells it to hedge funds that use it against the small independent investors.
Users of Reddit, many with modest trading accounts, realized that, if they all bought the shares as fast as hedge funds were shorting and dumping them, they could cause the price to go up, and turn the tables on the attack on GameStop and, temporarily, at least, make a profit and cause a “short squeeze.”
Tens of billions of dollars are earmarked for war, weapons and regime change abroad. Another disturbing element of the bill is that it makes the felony streaming bill and the CASE Act into law that rewrites our copyright laws to aid copyright extortion rackets that shake down incidental and accidental infringement.