Republican Senator Rand Paul of Kentucky recently criticized his colleagues in Congress over their efforts to provide relief to Americans while putting the country in debt instead of opening up the economy.
“If you print up billions of dollars and give it to people, they are unlikely to spend it until you end the quarantine,” said Paul in a recent Senate floor speech. He points out that some studies showing experts mortality rate predictions from coronavirus are inaccurate and overblown. He explains that the virus is still dangerous and we shouldn’t ignore the risks, but we need to put those risks in perspective. Randomized studies are showing more and more everyday that Americans can manage the coronavirus without the incredibly strict lockdown policies.
He claims to be against spending $500 billion more. The virus bailouts, alone, have already cost over two trillion dollars. That would put the annual deficit this year at around four trillion dollars. We can’t continue this course.
No amount of bailout dollars can stimulate an American economy. It is simply just strangling itself into quarantine. “It is not a lack of money that plagues us, but a lack of commerce.” Paul says. He praises the numerous efforts from Americans to combat this national pandemic before pointing out the danger of borrowing from the budget. With the recent $2 trillion bailout we’re borrowing faster than we’ve ever borrowed before and had we practiced budgeting in the past, we would’ve been in a more secure position now to weather such a storm.
Over 20 million Americans are unemployed now and the numbers grow exponentially each day. “Make no mistake. The massive economic calamity we’re experiencing right now is caused by the government Passing out $1,200 checks indiscriminately, to people who haven’t lost their job, and will do nothing to rescue this country!” Rand Paul explained. “Recovery only comes when the quarantine is ended.”
Paul has also suggested for economists to weigh in between fighting the virus and causing harm to the entire economy. There is no “one size fits all” for an infectious disease. He believes the massive accumulation of debt will destroy the great country we built, and if the Left keeps adding ludicrous policies and requests into the relief bills we will be headed down a very dark path.
Paul concludes his speech by giving advice to the Senate and American People. “Let’s be aware of what we’re doing by creating all this new debt and let’s think before we jump to a terrible terrible conclusion.”
We can’t continue printing bailout money and we have to reopen the economy as soon as possible. Until then, job losses will continue. There is too much danger in nearly half-a-trillion dollars spending bills being passed without Congress being in session. This just means that a handful of individuals in leadership have the power right now. Most of them with aggressively left-wing agendas. That is just too much power for a few individuals.