Sen. Rand Paul asked a simple question on Sunday: “Will U.S. be the next Venezuela with Congress borrowing over $6 trillion in one year? The Senator shared a link to a Bloomberg report concerning Venezuela’s hyperinflation problem. The report stated, “Venezuela said it would introduce new large-denomination bolivar notes as hyperinflation renders most bills worthless, forcing citizens to turn to the U.S. dollar for everyday transactions.”
Sen. Paul’s question came less than 24 hours after the Senate passed the wasteful “COVID-19-relief” spending bill in a 50-49 vote. The bill brings, among other things, funds for blue cities and states that spent decades on wasteful spending, Covid relief for foreign countries, and the majority of the ‘relief’ money isn’t allocated for years.
New 1,000,000 bolivar note in Venezuela worth 53 cents. Will US be the next Venezuela with Congress borrowing over $6 trillion in one year?
Hyperinflation Pushes Venezuela to Print 1,000,000-Bolivar Bills – Bloomberg https://t.co/IzPGWrNAwv
— Senator Rand Paul (@RandPaul) March 7, 2021
Even the insufferable Democrat puppet Romney came out against the waste, saying, “We’re going to be asking the American people to allow us to borrow money from China and others, pass that on to our kids and grandkids so that we can send money to states like California and mine that don’t need the money.” Romney said, “that doesn’t make any sense at all.”
According to a Fox report, “Venezuela’s economy has deteriorated due to oil prices, the coronavirus and years of hyperinflation.” The hyperinflation happening in Venezuela now sees 1 million bolivars only actually hold a $0.52 value.
The Republicans sent a Covid relief bill that cut the majority of the pork and only added $618 billion to the national debt instead of the $1.9 trillion that was added on Saturday. Sen. Paul says the Biden Administration is on track to borrow over $6 trillion from our enemy, China, before the end of the year.
The Republican plan focused on the immediate need for Americans to jump-start small businesses decimated during the pandemic. Republicans wanted to make sure that the money still left from December’s stimulus was spent before the new bill’s treasure chest was funded. None of this really matters, other than direct relief to small businesses; a stimulus bill does nothing compared to an open economy.
The amount of debt that will accrue over the next four years – well, two if we can get control of the House and Senate in 2022 – will not be paid off in your lifetime. We are saddling our grandchildren with debt and bad legislation that they will have to fix because we were too selfish to put the next generation first.
To think our grandchildren will be forced to cover our wasteful spending all for a measly $1400. It would be comical if it weren’t so tragic. It’s too bad the American people as a whole don’t identify as trans illegal immigrants at the border; if so, we could get free health care, education, and a cage of our own.
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ARTICLE SOURCE: thefederalistpapers.org