This week, some rather blistering reports were made about the reallocation of COVID funding.
When the legislation was passed, I was adamantly against it solely for the reason we have been given very little accounting for the money.
Former Obama counselor to the Treasury Secretary, Steven Rattner, seems to agree.
The Shell Game
It is hardly a secret that Democrat mayors and governors have been reallocating COVID funding to use on pet programs.
There are surely some Republicans that have done the same.
Rather than use the money for its intended purpose, funding was reallocated to programs they deemed needed additional funding.
God forbid they return the money that was not needed.
The federal government did the same thing. The EPA moved millions of dollars of COVID funding over to a grant program, awarding massive grants to organizations that had nothing to do with COVID.
Even when Trump was in office and the first wave of COVID funding was approved, I warned this would happen.
However, Biden’s American Rescue Plan took another $1.9 trillion of taxpayer money and injected it into the economy as well as more COVID relief.
Many believe it did far more harm than good, including Rattner.
Rattner stated, “Those poor policies include far too much budgetary stimulus as we addressed Covid challenges.
The $1.9 trillion American Rescue Plan passed in the early days of the Biden administration will go down in history as an extraordinary policy mistake.”
We are now on the verge of a recession, yet Joe Biden seems more interested in deflecting blame than doing something about it.
As recently as Tuesday, Biden was still trying to sell the idea that Putin is the one to blame for the inflation in this country.
Biden stated, “Putin’s invasion of Ukraine has driven up gas prices and food prices all over the world.
“So everything is going up. We saw it in today’s inflation data. Seventy percent of the increase in prices in March came from Putin’s price hike in gasoline.”
That, simply put, is a lie. At most, you blame Putin for about 15 percent of the overall inflation we are experiencing right now, and that is being generous.
In reality, Biden’s weakness led to the invasion of Ukraine. By that line of thinking, every percentage point of inflation falls directly into Joe Biden’s lap.
Source: Fox News