Biden’s Failed Stimulus

Hundreds of Billions In Unnecessary Government Spending, Americans Not Returning To Work, And Rapidly Rising Inflation – All Thanks To Biden And Democrats’ $1.9 Trillion Failed Stimulus

BIDEN’S $1.9 TRILLION STIMULUS IS BACKFIRING

• Today, Biden is touting his $1.9 trillion payoff to progressives, attempting to spin it as a success.
• In reality, Biden’s stimulus is holding back the economy and included hundreds of billions in wasteful spending.
• While consequences of this partisan bill are now being felt just four months since Biden signed it, warning signs existed from the start:
  • This $350 billion blue state bailout used a formula biased toward primarily Democrat-run states.
  • Estimates showed Democrats were giving hundreds of billions more to states and cities than what was needed. 
  • Experts warned the bill would make “unemployment more financially rewarding than working.”
  • Democrat House Senior Whip Adriano Espaillat (NY) even conceded he was “not comfortable” with spending on Democrats’ pet projects in the bill, calling it “embarrassing.”
• Americans are now feeling the results of Biden’s big government, failed stimulus:
  • Small business owners are having “real problems” finding workers amid labor shortages at the “highest level” they have ever seen.
  • “Extra benefits” supported by Biden and Democrats in the stimulus are to blame for labor shortages affecting employers. 
  • An estimated 37 percent of workers make more money on unemployment than work.
  • A Morning Consult poll recently showed that “1.8 million out-of-work Americans have turned down jobs” because these payments are too high.
  • Inflation is rapidly rising, with former Obama economic adviser and Clinton Treasury Secretary Larry Summers laying the blame on Biden’s partisan $1.9 trillion stimulus bill.
    • Summers says he is even more concerned now than when Biden and Democrats ignored these warnings and spent $1.9 trillion.

THE STIMULUS IS FULL OF WASTEFUL SPENDING

• $350 billion for a blue state bailout, even though states took in more money last year than they did in 2019.
• $123 billion in extra money for school reopening, even though there are tens of billions from prior bills that remain unspent.
• $86 billion for a pension bailout.
• $4 billion for “socially disadvantaged” farmers and ranchers, a program that two federal judges have already ruled against as biased.
• $970 million for Amtrack’s Northeast Corridor, and $166 million for long distance rail travel.
• $50 million to the EPA for “environmental justice” and climate change programs.
• $20 million for “language preservation.”

THE STIMULUS DID LITTLE TO FIGHT COVID

• Only 9 percent of the $1.9 trillion stimulus went directly to fighting the coronavirus.
  • Only 1 percent of the bill went to “vaccine-related activities and programs.”
• Despite Democrats’ claims the bill offered emergency “relief,” the Congressional Budget Office estimated that over $700 billion in the bill will not be spent this year.

DEMOCRATS REJECTED REPUBLICAN EFFORTS TO FIX THE BILL

• Democrats rejected tying funding for schools to re-opening.
• Democrats rejected an amendment to block illegal immigrants from receiving relief checks.
• Democrats rejected replacing the bill’s blue state bailout and using the funding formula that was used in the bipartisan CARES Act.
• Democrats rejected a provision to review and approve the Keystone XL Pipeline, which would undo Biden’s decision to kill jobs.
• Democrats failed to include the Hyde Amendment, a longstanding protection to ensure taxpayer dollars are not used to fund abortion.