Get this: our government printed more money in June than in the first two centuries of our existence! Last month, the U.S. budget deficit of $864 billion was larger than the total debt incurred from 1776 through the end of 1979. The current national debt stands at more than $25 trillion.
The first trillion of national debt was used to defeat the British, pay for the Alaska and the Louisiana purchases, defeat Hitler, survive the Great Depression, build the Interstate Highway System and send Americans to the moon.
Looking at all that, I think it’s clear we’re not getting much in return for the current spending spree even when monetary inflation is considered.
The U.S. House recently decreed that a large part of their current spending should flow to the states to be disbursed as needed to prop up the failing economy. Make no mistake, the economy is failing.
Gov. Jay Inslee announced that he is going to share this largess with immigrants; $40 million of federal money will go to non-citizens, sheltered from ICE, in WA who were passed over by Congress in the last giveaway and are not being considered for the next round of spending money that we don’t have.
Some who are not documented do pay federal taxes but will no longer do so if the employers they work for are forced out of business due to social distancing rules that do not seem to be solving the spread of Covid-19.
Paul H. Friedrich
Camano Island
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