$5 Trillion in spending is nuts, fiscally irresponsible... and this may be the perfect time to do it

[WarGamer]

Normally... in a typical year in the United States, in a typical year in the world the very thought of blowing through $5T in new spending would be considered irresponsible and downright stupid by most thinking people...

But this isn't a typical time... you see, because of COVID-19 most countries on the planet have spent tons of money. You see... usually you don't blow up your budget because it will risk harming the value of the dollar and the reputation and good standing of the American economy.

But in COVID-19 days... I expect we're going to see the printers running 24/7 in MANY countries and for US to run our printers at double speed, I don't see much risk. In other words, COVID-19 may be the PERFECT TIME to spend a buttload of cash.

1) We're looking at a possible/probable recession in 2022. Spending will counter that...

2) No downside in international economic consequences

3) Inflation needs to be tempered with increased incomes, increased hours at work and overtime.

4) Further Gov't intervention may be necessary.



Now we wait on D.C....

I do have one suggestion, though... fund the spending at least partially through a EU-Style VAT tax... call it a 20 year COVID tax. EU style meaning there are exemptions, of course...

[The Magistrate]

1. It Is A Figure For Ten Years, Sir, As Well

People take the top-line figure as if it were all to be spent by next Tuesday....

[WarGamer]

2. Absolutely!!

[TreasonousBastard]

3. Well, the military is asking for 758 billion for next year, without...

a whine or whisper. That's almost 8 trillon over 10 years.

And that doesn't count black budgets, special operations, or other "security" budgets like CIA, NSA, Homeland Security...

I betcha if all the numbers were in (remember, the Pentagon is not audited) we'd be well over 10 trllion over 10 years.

Imagine what we could do with over a trllion a year...

[WarGamer]

4. maybe someone could just tell them "no"?

peace dividend, right?

[MoonlitKnight]

5. This!

Plus the “bipartisan” bill is about $500 billion. The $1.5 trillion number includes about a trillion in already committed funds.

So the total is about $4 trillion over ten years.

[The Magistrate]

6. Since The Yearly Budget Runs About Four and a Half Trillions, Sir

And is likely to increase of its own, the total increase on a yearly basis is about ten percent....