How's that $1,400 stimmy check hitting you now?
President Biden just signed his sweeping $1.9 trillion spending package into law. Once this bill hits the books, total taxpayer expenditure on (ostensibly) COVID relief will hit $6 trillion—which, roughly estimated, comes out to $41,870 in spending per federal taxpayer.
The sheer immensity of this spending is hard to grasp. For context, $6 trillion is more than one-fourth of what the US economy produces in an entire year, according to Fox Business. The COVID spending blowout is at least eight times bigger than the (inflation-adjusted) price tag of President Franklin Delano Roosevelt's "New Deal."
Hundreds of billions of this "Covid" relief money is going toward bailing out poorly run state and local governments and hey, why not $86 billion to bail out failing pension plans? Because Covid.
What a disaster.
$41,870 per taxpayer.
The median income in America is $31,133.
And one of the most dire consequences of all this helicopter money is the increased dependence it will train American citizens to have on the stinking federal government.