Wednesday, February 24, 2021

EVERYTHING WRONG WITH THE STIMULUS BILL

Here’s everything that’s wrong with the stimulus bill that was just passed in Congress.

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Usually I don’t make videos about the stimulus and I’m sure you’ve seen plenty of these videos by now but I haven’t seen anyone talking about what they just snuck in there. Just please understand, this is not about President Donald Trump, this is not about republicans vs democrats, this is just purely something interesting that I think you should know about because the last round of stimulus includes billions and billions of dollars in special interest tax breaks for some very strange stuff. The problem is the bill itself was 5,593 pages long and Congress literally had 6 hours to read it all but the bigger issues are these.

1. if you go the bill right now (https://rules.house.gov/sites/democrats.rules.house.gov/files/BILLS-116HR133SA-RCP-116-68.pdf) and you search for these key words – you’ll see it yourself: the word aircatft appears 208 times, the word munition 46 times, weapon 46 times. What about the stuff that’s actually important and useful? Healthcare 24 times, Forbearance 11 times, Nurse 3 times, Doctor twice, masks 0. Let’s break down where the money is going because remember, at the end of the day, we – the tax payers are going to be paying for all this and I think we should know what’s in it.

2. One of the bigger items on this list is on page 471 for weapons procurement for the Navy which includes production, modification, and modernization of missiles, torpedoes, other weapons, and related support equipment in the amount of $4,477,773,000 to remain available until September 2023.

3. Page 278, we’re also giving $2.142 billion to Air Force weapon procurement. Plus another $2.31 billion to the Space Force. This is all in addition to the $740 billion dollars the military received just two weeks ago which also included a 3% pay raise.

4. $500,000,000 for Israel, yes – that one is actually real and it’s on page 341 for defense, weapons, and research systems – but other countries received help as well so it wouldn’t be fair to disenfranchise Israel: Cambodia is getting 85.5 million, Nepal $130.2 million, Burma $134.9 million, $250 million for Jordan, Lebanon, Egypt, Tunisia, and Oman, $453 million for Ukraine.

5. Random policy regarding the succession or reincarnation of the Dalai Lama – page 5098. The reason it’s in there is that it’s supposed to challenge China’s claim that they can pick who the next Dalai Lama will be. I know this is a very important issue that’s supposed to protect cultural and religious freedoms in Tibet since China’s invasion of Tibet in 1950 – but this seems oddly placed.

6. 10 years prison time for streaming torrented content

Here’s the actual truth behind why this is all happening. The reason that this 5,500 page bill seems so strange is because the actual stimulus relief bill – was only for $900 billion dollars. Congress knew that they’d never agree with each other on passing these two bills separately. So instead, they rolled the relief bill into the $1.4 trillion dollar omnibus spending bill that they had to vote on to keep the government from shutting down – and in the 1.4 trillion dollar bill – that’s where we had all the spending on defense systems, foreign aid, and other random clauses that were passed along for the ride.

Fortunately there is some good news to the bill that was passed. $600 stimulus checks. It also includes unemployment benefits for an additional 11 weeks. It at least something but the potentially bad news is President Donald Trump said it was too small of a check and he would like for the stimulus check to be closer to $2,000 per person which is estimated to cost roughly an additional $370 billion dollars (which means he may not sign this current bill)

Overall, it’s unfortunate Congress used the relief bill as a bargaining chip to pass special interests. That’s politics as usual.

*None of this is meant to be construed as investment advice, it’s for entertainment purposes only. Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.

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