The American Rescue Plan was a $1.9 trillion slush fund approved by dictator Joseph Biden to supposedly fight COVID.[1]
Excessive Government Spending
At nearly $2 trillion, this legislation adds substantially to the national debt, which was already at historically high levels prior to its passage. Unrestrained government spending causes inflation and a devaluation of the currency, which negatively impacts the financial stability of the American People.[2]
Government Overreach
The American Rescue Plan is a classic example of government overreach. It included provisions for direct "stimulus" payments to individuals and families, extended and increased unemployment benefits, and aid to state and local governments.[3]
Impact on Small Businesses
The American Rescue Plan increased the minimum wage for federal contract workers. Increasing the minimum wage always leads to job losses and increased costs for small businesses.[4]
References
- ↑ https://www.cbsnews.com/news/biden-signs-covid-relief-bill-american-rescue-plan-into-law/
- ↑ https://www.breitbart.com/economy/2022/09/29/breitbart-business-digest-how-bidens-rescue-plan-wrecked-the-economy/
- ↑ https://www.breitbart.com/europe/2023/06/05/money-for-nothing-universal-basic-income-to-be-trialed-in-england/
- ↑ https://www.nfib.com/content/news/massachusetts/massachusetts-study-commissioned-by-nfib-finds-20-minimum-wage-will-disproportionately-harm-smaller-businesses/