Dems Rush New COVID Bill While Feds Sit On $1.3 Trillion In Unspent Relief Funds
I & I Editorial Board
February 11, 2021
I&I Editorial
‘Time is a luxury our country does not have.†That was Senate Majority Leader Chuck Schumer explaining why Democrats are in such a mad rush to pass a massive $1.9 trillion COVID “relief†bill.
What Schumer, President Joe Biden and other Democrats, and the mainstream media fail to mention is that the government still hasn’t spent $1.3 trillion of the previous COVID relief funds. If the public knew that, would a majority be in favor of anything like the new Biden plan?
For those with short memories, there have been five COVID relief bills in less than a year, with total spending of $4.1 trillion – all financed by deficit spending. President Donald Trump signed the most recent bill – valued at $900 billion – just six weeks ago. Also, there have been “administrative actions†that add up to $700 billion.
The Committee for a Responsible Federal Budget has been keeping close track of the spending with its COVID Money Tracker tool, and finds that there are still $1.1 trillion from those five COVID bills that has yet to be “committed or disbursed.â€
About 60% of that is from the last bill Trump signed. But there’s $195 billion left over from the CARES Act passed last March; $125 billion from the Families First Act; and $220 billion still to be spent from the Paycheck Protection Program and Health Care Enhancement Act, which passed last April.
There’s also another $200 billion in “administrative actions†that hasn’t been spent, the tracker shows.
more
https://issuesinsights.com/2021/02/11/dont-tell-anyone-but-biden-still-has-1-3-trillion-in-trump-approved-covid-funds-to-spend/
