COVID-19 Economic Policy, Stagflation, and Elite Wealth Consolidation
By The Heartland Institute | Feb 11, 2022 9:30 AM ET
The fiscal and monetary policies enacted by both the Trump and Biden administrations in response to COVID-19 have encompassed an unprecedented level of government spending, with desultory impacts on our country’s economic outlook.
As of January 2022, the federal government has spent a gargantuan $3.6 trillion and is obligated to spend $500 billion more.
The costliest programs include:
$848 billion in direct payments to qualified Americans.
$827 billion in small business loan subsidies.
$720 billion in combined unemployment compensation and insurance benefits.
$500 billion in emergency assistance to state and local governments.
$350 billion for public health initiatives such as vaccine distribution.
$275 billion for grants to educational institutions.
These programs have done little to benefit individuals suffering most from the pandemic, nor have they enhanced overall macroeconomic health.
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https://redstate.com/heartlandinstitute/2022/02/11/covid-19-economic-policy-stagflation-and-elite-wealth-consolidation-n520209
