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As Congress Pushes a $2 Trillion Stimulus Package, the How Will You Pay For It? Question Is Tossed in the Trash
Key Excerpts from Article on Website of The Intercept


The Intercept, March 27, 2020
Posted: April 6th, 2020
https://theintercept.com/2020/03/27/coronavirus-stimulus-pac...

How was Congress able to come up with $2 trillion so quickly? Where is the money coming from? On Friday, the House of Representatives, led by Speaker Nancy Pelosi ... waved away that question, preparing to rubber-stamp a $2 trillion Senate package aimed at staving off economic collapse. The details of the legislation particularly the $500 billion, strings-optional corporate slush fund may be shameful ... but the moment is instructive ... as it became clear that concerns about deficits and revenue had evaporated. Congress has ignored millions of people who have existed in a state of crisis for decades. The people of Flint, Michigan, (and elsewhere) still do not have safe drinking water. Millions of kids go hungry each day. There has been no multitrillion-dollar spending bill to combat these and other domestic emergencies. Instead, lawmakers have deprived communities of critical investments that could have attenuated their emergencies, often hiding behind the excuse that there isnt enough money in the budget to deal with problems like these. Congress is doing now what it could always have done. Uncle Sam cant run out of dollars. The U.S. government is the issuer of our currency the U.S. dollar which means that ... it can never find itself in a situation in which it has bills coming due that it cant afford to pay. If the votes are there, the money can always be made available. When all of this is behind us, to the extent that it ever can be, lets not forget what weve learned.

Note: The entire article at the link above raises important questions about why Congress hasn't made more money available in the past for much needed support of a variety of important programs. The author, Stephanie Kelton, served as the chief economist for Democrats on the U.S. Senate Budget Committee. For more along these lines, see concise summaries of deeply revealing news articles on banking and financial corruption from reliable major media sources. Then explore the excellent, reliable resources provided in our Banking Corruption Information Center.


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