Stimulus bill flawed
I am a strong supporter of President Biden and Kamala Harris, and I am grateful every day for the civility, respect, decency, and honor that they have restored to our country.
As one who is a fiscal hawk, however, I have serious concerns about the breadth of the $1.9 trillion coronavirus stimulus bill, which includes many items that are not related to the virus.
The bill has the potential to reignite inflation, to create the expectation of expensive new permanent entitlements, and it distributes $1,400 checks to many who were not harmed by the pandemic and do not need the money. The Republicans have a valid point when they assert that the funds in the bill are not targeted.
“Pay as you go” budgeting was not considered. The $1.9 trillion is not being provided through increasing taxes or making any spending reductions, but solely by borrowing. There may be an ugly day of reckoning.
There are many provisions in the Biden stimulus legislation that are important and worthy, including making state and local governments whole for the damage that has been inflicted on them and their budgets over the past year through no fault of their own. It is regrettable that both Republicans and Democrats were so entrenched in their positions that no compromise took place.
Oren Spiegler
Peters Township聽