Letter to the editor: Why you should be worried about the $1.9 trillion COVID-19 relief plan | SummitDaily.com
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Letter to the editor: Why you should be worried about the $1.9 trillion COVID-19 relief plan

Ken Gansmann
Silverthorne

 

The current administration has announced a $1.9 trillion coronavirus relief plan, but it still has not spent all of the nearly $1 trillion approved by the previous administration.

Of the proposed $1.9 trillion plan, about 60% of it would go toward Washington earmarks, which is doublespeak for pork, sleaze, bridges to nowhere, etc. Earmarks are Washington’s gateway drug to greater spending and corruption. Earmarks were banned in February 2011 after the term became synonymous with Congress’s embarrassing habit.

Why should we be concerned? In 2020, Congress and President Trump borrowed to spend about $3.3 trillion to lift family incomes, boost unemployment benefits and support businesses. When you add $1.9 trillion to this, we 330 million citizens will be saddle with $5.2 trillion in new debt. To put this into a perspective everyone can understand, that comes to $16,000 additional debt for every U.S citizen.



Runaway inflation can’t be far behind. Our U.S. Treasury will have no choice but to print more money. That dollar you have been working for and saving will be worth less.

In 2016, I wrote a letter to the editor wondering whether Democrats or Republicans were more disappointed with the Trump election. They were the “swamp” referred to by Trump. Whether we want to admit it or not, Trump was elected in hopes he would clean up this swamp. Guess what, the “swamp” is back, and they are putting us further into debt.



 

 


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