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American Rescue Plan: A COVID-19 Stimulus or Means to Fill Political Pockets?

Antonio K Smith by Antonio K Smith
March 9, 2021
in Business, Cryptocurrency, Economy, Markets, News, Politics
Reading Time: 5min read
Stimulus Package
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  • US President Joe Biden’s “American Rescue Plan” to be a great help to unemployed UScitizens facing poverty.
  • The Bill also showers the bureaucrats with money in more ways than one can think all under the name of several generous, seemingly unnecessary additional projects.
  • The Bill is sure to bring problems of inflation and intergenerational debt to the nation.

On Saturday, March 6th 2021, under US President Joe Biden’s “American Rescue Plan” a Covid-19 relief package of $1.9 trillion was passed. Under this plan, American citizens earning $75,000 or less are eligible to receive $1,400 and additionally every household can claim $1,400 for every dependent child on their income tax filings. Aside from the visible huge payments, the President’s plan also covers funds for several other local projects, as mentioned in the bill. However, as much as the plan benefits the citizens, the bill contains several loopholes offering loads of pork barrel funds directly to the pockets of salivating politicians. And the matter is very efficiently sweeped under the rug, as those funds could easily be painted as unnecessary to the taxpaying, responsible citizen.

Plans Benefitting the Citizens

The 628 page long “American Rescue Plan” bill worth almost two trillion U.S. dollars is the largest cash payment seen by the American citizens till date. Now to discuss, how exactly did they get a total of $1.9 trillion. To begin with, calculations show that the total cost of distributing $1.4k to the US citizens earning below $75k will be about $422 billion. Then $246 billion in the plan is for the weekly unemployment supplement which is expected to last up until August 29, 2021. This money also holds funds for an extension of programs providing several people with unemployment benefits. Then there is another section of “Child Care Tax Credit” worth around $143 billion, under which households can get a refund on daycare. Another part worth $8 billion is dedicated toward “Consolidated Omnibus Budget Reconciliation Act” coverage, and $45 billion for the expansion of “Affordable Care Act” subsidies. In addition to the above mentioned funds, there are a number of benefits an ordinary US citizen can get like nutrition assistance programs, providing Americans in need with food assistance. 

A Cover to Appease Bureaucracy

From the above mentioned distribution of the bill, it seems like a good start and all for the better development of US citizens, right? But this is where the reality begins, afterall all under-the-table acts are performed under the legal headings. For starters, approximately $480 million will go to museums, and guess what, most of those museums have been closed to the public, and preservation of ‘Native American Language’. Next, about $50 million will go to organizations related to ‘Planned Parenthood’, apparently it will give grants for family planning operations. However, the exact details of which organisations are to receive this Planned Parenthood fund isn’t mentioned. Then, ‘Transportation and Infrastructure’ is to receive $90 billion. The government plans to give these funds to transit agencies, airports and aviation manufacturers, and the railway operator Amtrak. Apparently, Amtrak will be getting $1.5 billion which clearly makes no sense as the company allegedly still has $1 billion of unspent funding from the previous relief bills.

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With some far-fetched reasoning, American bureaucrats believe building a bridge connecting Canada to New York is some sort of Covid-19 relief. Were you able to relate these two together? No? Despite being completely unrelated, funds worth $1.5 million are to be sent to the Great Lakes St. Lawrence Seaway Development Corporation (GLS), which is also a wholly owned government corporation, for this bridge project. To this figure, add another $12 billion that will go to airline firms and contractors to help tackle the forecasted layoffs.

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The List Keeps Going On And On And On…

Wait wait, the list isn’t over yet! A total of $50 million will fund the environmental justice grants, which fulfils the order of ‘Overcoming Climate Crisis’. As per the bill, this fund will go to the Environmental Protection Agency. And for some completely off-topic yet somehow related reasons, the Covid-19 stimulus bill also bans the shipping of USPS vape. And there’s still more, like $128 billion to the U.S. teacher’s unions who don’t even want to reopen schools.

Consisting of generous words, the bill passed seems more like an accurate recipe of disaster. And above mentioned fundings will surely take place, irrespective of whether or not this is what the US citizens need. It’s sure to bring intergenerational debt and inflation. However at this point, it doesn’t seem like Americans even care about what the bill holds. 

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Antonio K Smith

Antonio K Smith

Antonio is a travel photographer by profession and came across the Crypto world during his profession. Since then his love, knowledge and interest towards the technology have increased. He brings his passion to create in his articles.

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