Federal Government Spending Craze
The Biden Administration along with Congress are on a spending craze which will continue annual deficits of over $1 trillion.
The $1.9 trillion COVID-19 stimulus bill enacted in March and the previous COVID-19 stimulus bill in 2020 were necessary to combat the adverse impact of the pandemic.
The $2.2 trillion infrastructure program proposed by the administration is highly bloated with non-infrastructure elements. It should be restricted to repairing roads, replacing bridges and expanding broadband. This could reduce the infrastructure package to well below $1 trillion.
Biden’s ” American Families Plan ” of $1.8 trillion includes funds for child care, family and medical leave, universal pre-k, and free community college. It should be postponed and looked at some time in the future.
As an aside, the current extra $300 per week in federal unemployment compensation should be discontinued by the states. It is keeping people from entering the work force and significantly hurting companies and businesses who need employees.
The current administration’s spending spree has to be curtailed, and they need to effectively and efficiently prioritize and target their spending.
Donald Moskowitz
