The New American: Joe Biden and members of Congress are working to pass another massive and unconstitutional coronavirus spending bill filled with wasteful expenditures and left-wing priorities.
In 2020, Congress passed five coronavirus spending bills totaling nearly $4 trillion, on top of existing federal spending: the Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020 (H.R. 6074), the Families First Coronavirus Response Act (H.R. 6201), the CARES Act (H.R. 748), the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), and the Consolidated Appropriations Act, 2021 (H.R. 133).
Among the provisions of these bills, they appropriated trillions of dollars to unconstitutional causes, including federal unemployment benefits, business loans and subsidies, and education and agriculture funds, all of which violate the 10th Amendment. The federal government spent a record $6.6 trillion in Fiscal Year 2020, and the deficit continued exploding in FY 2021.
Despite the passage of these massive and fiscally damaging bills, newly inaugurated president Joe Biden and congressional Democrats want even more spending. Biden even called for another bill even before H.R. 133, which Congress had just passed, was enacted. Read More …
Opinion: Does it really matter how much the US spends anymore? Read on …
The Federal Reserve created $6.8 trillion last March to bail out the financial markets. Since then, the Fed has created $1.4 billion per month for the same cause. Keep in mind these numbers could be much higher but since the Fed’s books are a private matter, we have no way of knowing.
If we round the Fed’s monthly money printing off at $1.4 trillion, and add that to the $6.8 trillion, we come to $8.2 trillion, and that does not count the $4 trillion Congress spent sending stimulus checks out to we the people.
Since unknown trillions have been deposited in banks, it is not hard to imagine why the stock market keeps making new highs. Or why investors are searching for alternative currencies like gold, silver and bitcoin.
And it doesn’t take a financial wiz to see why the the 1% are getting richer by the second. Since no logical person can find this a good idea, why does it keep happening?
My theory is the US economy actually did come to an end in 2008-9. The 1977 Community Re-Investment Act, that provided credit for people with little or no means to afford homes by pressuring banks to lend, really did kill our economy.
It was in 2009-13 that the Federal Reserve, US Treasury in cooperation with the President, started printing money to bail out failing banks all over the world loaded with toxic mortgages bonds. It was supposed to be temporary, but in actuality it not only never stopped, but has accelerated to dizzying heights.
We know that the 3rd judgment (Revelation 6:5-6) of the tribulation is a global economic meltdown. What we didn’t know until Covid -19 came along, is that the world has no plan to survive economic crisis but to print baby print.
One day, a new crisis will hit, and it will be bigger and badder than covid. Possibly the disappearing of tens of millions believers will do it. (Romans 5:9; 1 Thess. 1:10, 4:16-17; Revelation 3:10).
See our paper “The 1% and Revelation: Do Not Harm the Oil and Wine Here