Trump wanted $2,000 to go out for his last stimulus check. Senator Mitch "The Turtle" McConnell blocked it and only $600 went out.
Sleepy Joe and Kamala delivered on Trump's wishes and the other $1400 went out. (Kamala broke the 50/50 tie on the Budget reconstruction bill). Sleepy Joe signed it into law. ![Wink2](images/smilies/modern/wink2.gif)
Recipients of the funds are quite happy with their new 65 inch 4K big screen T.V. (You had to file a tax return in the prior year to receive the stimulus check).
Thanks Sleepy Joe.
Thanks Kamala.
Originally Posted by adav8s28
Adav8s28, the last time you wrote something like this, Texas Contrarian waltzed in and beat you to a bloody pulp. It was painful watching it happen, worse than Tua's knock out of Ruiz 19 seconds into their heavyweight title match,
https://www.youtube.com/watch?v=6PDL2XnQaDA
Especially painful for me to watch, because you had my back in the COVID threads.
Trump, Pelosi, Biden and Schumer increased the federal debt held by the public from 17.2 trillion dollars to 24.7 trillion dollars during 2020 to 2022. The only sane ones of the bunch were the Senate Republicans.
And what do we have to show for it in addition to the 65" big screen TV's? Well, for one thing, federal debt held by the public as a % of GDP of 95%. That's unsustainable. At current rates of interest, around 5%, we would be paying $1.2 trillion a year. That's interest expense of $9,000 PER YEAR per American household, and $188,262 of net federal debt per household! Great trade off for those big screen televisions, huh?
One of the reasons interest rates are high, resulting in that $1.2 trillion annual interest cost, is because of inflation that was initially ignited by those $1400 checks you mentioned, and other spending in Biden's American Rescue Plan. Yes, you can blame fed policy and the aftereffects of COVID and logistical snafus too. But, as prominent Democratic Party economist Larry Summers has shouted from the rooftops, it was the American Rescue Plan including the $1400 checks that kicked it off.
The inflation also resulted in loss of purchasing power. In real terms, after inflation, many Americans are now earning less than they were in 2019. That's why Biden gets low marks in polls for economic policy.
Any further comments, we need to take it to another thread. Like the OP, this is all related to Biden's incompetence, but maybe not closely enough to meet the current forum guidelines for staying on topic.