In 2,000 days as House speaker, Nancy Pelosi has increased U.S. debt a record $9.6 trillion, more than all the debt from all speakers who served before Pelosi first took the position on January 4, 2007. Spending bills originate in the House.
RELATED: Pelosi’s husband began buying up Slack, Microsoft and Alphabet securities in late February before state governors began shutting down the country.
The largest stimulus bill in history was passed two weeks ago, at more than $2 trillion. There are three methods of paying this back:
Raise taxes.
Print money
Default
John Stossel has thoughts on each method at johnstossel.com.
Economic losses by the shut down will be close to $5-6 trillion, so printing even $3 trillion will not be inflationary, according to Armstrong Economics.
People will not spend the liquid capital, but will instead hoard it since they do not trust the future.
But, the destruction of capital goods is just getting started.
Nice breakdown from Bloomberg.com.
Kudus to the one Congressman, Thomas Massie (R-KY), who tried to make our representatives accountable for their votes.
He once joked that the buttons our lawmakers use to vote “yea” or “nay” should be labeled “spend” and “don’t spend.”
U.S. Secretary of state Mike Pompeo told a gathering of U.S. governors that the “The Chinese People’s Association for Friendship in Foreign Countries” is a communist front group that has a list categorizing each governor as “friendly, hardline or ambiguous.” Read more at PJMedia.com.
More information: AEI’s Chinese global investment tracker
2013: Joe Biden took his son Hunter on official trip to China – ten days before communist regime’s bank signed deal with private equity firm Biden Jr. runs with John Kerry’s son. (Read more at The Daily Mail)
Flashback: Bill Clinton gave China missile technology (Capital Research Center)
George Soros, Facebook co-founder Chris Hughes, Disney family members and other billionaires wrote to the 2020 Democrats urging a wealth tax, ” in the interest of our republic.”
Instead of cutting a check, their real goal is to virtue signal and give government more power, while Soros funds illegal immigration, Facebook steals your privacy and Disney corrupts the youth.
Above graphic: Poverty was already in decline in the U.S. when government spending power increased, to no effect.
