Your Children Will Pay for This: Democrats Have Packed Billions in Pet Projects and Pork Spending into COVID Relief Bill
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- The House is scheduled to vote Tuesday
on the Senate version of Joe Biden's
$1.9 trillion COVID relief bill.
While the Senate removessome pricey items,
critics say the billis still full of pork,
most of which hasnothing to do with COVID.
- I promised the Americanpeople that help was on the way.
We've taken one more giant step forward
in delivering on that promise.
- [Dale] The Senate versionremoves the $15 minimum wage,
cuts off relief checksfor incomes above $80,000
for individuals and$160,000 for households,
and lowers the federal unemploymentboost from $400 to $300.
West Virginia Democrat JoeManchin was instrumental
in getting rid of the $15minimum wage in the bill,
something that's viewed as a job killer.
- If everyone agrees it should be raised,
but we need to base, thebase of our minimum wage
should be above the poverty guideline.
- [Dale] The final votepassed along party lines,
with Republicans unitedagainst a relief plan
loaded with pork barrel spending.
- The Senate has never spent $2 trillion
in a more haphazard way orthrough a less rigorous process.
- [Dale] That spending includes500 million for museums
and Native American language preservation,
1.5 billion for Amtrak, and $50 million
for environmental justice grants.
- Where is this money- Yeah.
- coming from now that we'vegot a $28 trillion tab in debt?
- Well, it's coming from your children
and your grandchildren.
It's all borrowed money.
There's $200 million for library services.
There's over $300 million
for the National Endowmentof the Humanities and Arts.
There's $20 million fornative language studies.
These all may be good ideas,
but they got nothing to do with COVID.
- [Dale] Mark Hamrick,Washington bureau chief
and senior economicanalyst at Bankrate.com,
says the massive government spending
will help the economyin the coming months,
but raises the threat of inflation.
- The inflation worry is gonna be with us
for quite some time, but in the near term,
that's gonna be more rocketfuel for the recovery.
- The bill is expected to pass this week
and checks should go outby the end of the month.
Dale Hurd, CBN News.
- You know, we've beenasked time and time again:
What happens if a nation goes bankrupt?
Is it possible?
The answer is yes, it's possible
because one thing is gonna happen.
Either you inflate your way out of it
so inflation gets to be such a point
that the debt doesn't mean anything,
which of course crippleseverything else in your economy,
or you raise taxes to a point
where you can start paying it off,
and before long, as we pointed out
a few days ago on thisprogram, the amount of interest
on the federal debt, ifit's just 1 or 2% raised,
will eclipse all the other spending
of the entire federal government.
It is horrible, and thosepeople in Washington
ought to know better but they don't.
They don't seem to care.
It is your children and your grandchildren
who are gonna suffer because.