President Joe Biden’s $1.9 trillion spending package was sold as an American Rescue Plan for coronavirus relief, but just 9% addresses the pandemic and ultimately it buys higher interest rates, inflation, and “economic stagnation,” according Rep. Guy Reschenthaler, R-Pa., to Newsmax TV.
“I don’t think a lot of individuals, the average American realizes that this means that we’re gonna have higher interest rates moving forward, which will lead to economic stagnation – especially people on fixed incomes,” Reschenthaler told Thursday’s “John Bachman Now.”
Host John Bachman noted a majority of Americans have expressed support for coronavirus relief in polling, up to even 60% Republicans in some polls, but Reschenthaler noted the polling is a bait and switch like the spending measures under the guise of COVID-19 relief in an “economic rescue plan.”
Americans support COVID relief for those struggling, but not the massive liberal spending programs stuffed into it, Reschenthaler told Bachman.
“It’s very hard to capture that when you’re doing a poll,” he said, adding the questions are tactically vague on supporting relief, but fail to get into the details of the $1.9 trillion spending bill that President Biden signed into law from the Oval Office on Thursday.
“I know omnibus is a term of art, but when it is in a big package like this, it makes it very difficult to message and for people to understand exactly what’s in it,” Reschenthaler said.
“Additionally, it’s very hard to explain to somebody in context the meanings of this moving forward in terms of the economic stagnation that we’re gonna have. Because we have such a big package, we’re talking about COVID relief on the scale of an amount that is the same as our [Gross Domestic Product].”
The only countries that have a GDP greater than the $6-plus trillion the American government has passed for coronavirus relief in the past year are the United States and China.
In fact, Reschenthaler lamented,”This package of you add it all together – I’m talking collectively all the packages over the summer and the fall – it exceeds all the GDPs of all the other nations in the world except the United States and Communist China.”
Reschenthaler said the spending package would not even be necessary to “bail out” blue states if Democrat governors in California, New York, and Illinois would just permit their people to get back to business like large red states of Texas, and Florida.
“They’ve had budget issues well before COVID,” Reschenthaler noted of states such as New York. “This is nothing new and they made the situation worse by the draconian lockdowns that have crushed small businesses.
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Source: Newmax
