As the newest Democrat relief package is still being debated, experts have been busy dissecting the massive spending bill, trying to understand the nearly $2 trillion price tag. For many Americans, the relief bill would keep the lights on and food on the table, but it all comes at a price. Recently, media mogul and former Republican nominee Steve Forbs stopped by Fox News to break down Biden’s stimulus package and show you exactly where the money is going.
First off, Forbes warned about the outrageous spending the Democrats are proposing. According to Forbes, “If this administration took a six-month vacation on the economy, just opened up schools, continue with the vaccines, they’d look like geniuses. But instead of this kind of binge spending, the regulatory regime they are unleashing right now, putting in a whole bunch of new rules and regulations and the big tax increases they want to do later this year — all of that is going to be very serious obstacles for an economy that is really ready to roar.”
As for the bill itself, Forbes had a startling revelation when looking through the massive spending. He said, “That nearly $2 trillion binge bill they have, only one-third of it is really for anything to do with COVID. The rest is political payoffs, especially to states that have mismanaged their economies like New York, California, Illinois, New Jersey.”
Even though experts have warned the Democrats that such a hike in printing money could cause an outbreak of hyperinflation, Biden and his followers are still pressing forward without little to stop them.
Speaking on “The Faulkner Focus”, Forbes recalled the 1970s when the Federal Reserve was printing money out of thin air and believes this is the same path Biden is heading. He said, “You’re just getting a little taste of it now. Now the apologists will say, ‘Don’t worry this will just be a one-time thing.’ No, it’s not. When you print up hundreds of billions of dollars that’s going to course through the economy and it’s going to be with us for quite a while in a bad way.”
With $15 minimum wage eliminated from the bill and direct payments being slashed, the so-called Relief Aid appears to be more for Democratic strongholds like New York than the struggling American people.