Nancy Pelosi has unveiled an 1,800 page bill that provides for more than $3 trillion in new spending, ostensibly linked to the coronavirus. In fact, it is mostly must a liberal shopping list. This is, in summary form, some of what the bill contains:
* Nearly $1 trillion for state and local governments, ostensibly to make up for anticipated budget shortfalls due to the virus. $540 billion is earmarked for the states, divided according to a formula. Under the House bill, Minnesota would get $8 billion. Its projected revenue shortfall is $2.4 billion, substantially all of which can be covered by the state’s rainy day fund. So the $8 billion would be all gravy.
* Another round of $1,200 payments to individual Americans.
* $175 billion to health care providers, to reimburse them for lost revenue because “nonessential” health care has largely, and unnecessarily, been made illegal in most states.
* $100 billion for “stimulus funding” for education. This has no apparent relationship to the coronavirus.
* Forgiveness of federal and state student loans, up to $10,000 per person. Again, no relationship to the disease.
* $75 billion in “assistance for homeowners.” I take it this is to make up for missed mortgage payments. Also, $100 billion “to help low-income renters avoid evictions.” So taxpayers will be paying other people’s rent as well as mortgages.
* State transit authorities would get $15 billion. I am not sure why. So more mass transit can help the next disease to spread faster?
* $75 billion for the U.S. Postal Service. Just because.
The House will pass Pelosi’s monstrosity on Friday–without having read it, of course. Let’s hope the Senate can slam the door on this nonsense. Shutdown orders are being lifted (and sometimes ignored) across the country. Congress should focus on eliminating obstacles to a rapid recovery, not on endless subsidies that promote dependence on government, and therefore help the Democratic Party. If the Senate goes along with the House, even in reduced form, this would be a great opportunity for President Trump to show some leadership by vetoing the whole mess.