President Biden just signed his sweeping $1.9 trillion spending package into law. Once this bill hits the books, total taxpayer expenditure on (ostensibly) COVID relief will hit $6 trillion—which, roughly estimated, comes out to $41,870 in spending per federal taxpayer.
Did you see anywhere near that much in benefit?
The sheer immensity of this spending is hard to grasp. For context, $6 trillion is more than one-fourth of what the US economy produces in an entire year, according to Fox Business. The COVID spending blowout is at least eight times bigger than the (inflation-adjusted) price tag of President Franklin Delano Roosevelt’s “New Deal.”
Moreover, the COVID spending bills have all lost huge sums of money to unrelated carve-outs, politician pet projects, corporate bailouts, fraud, waste, and worse.
K-12 Tax & Spending Climate: Redistributed Federal taxpayer funds and Wisconsin Schools
San Franciscans sacrificed. We masked up, kept our distance & stayed home. Our numbers are going down. Almost to orange. Yet, @SFUnified still has no plans to open up middle & high schools lagging @LASchools & other urbans. Let's open our schools. https://t.co/rrEEP4veN4
— Phil Ting (@PhilTing) March 12, 2021