WSJ Blasts Dems’ $1.9T Bill as a Non-Covid Spending Blowout

February 22, 2021 — Blog    — Coronavirus Bulletin    — In Case You Missed It...    — Press Releases   

Yet another major newspaper has criticized the Democrats’ $1.9 trillion spending bill that neither prioritizes crushing the virus nor creates jobs. As the Wall Street Journal writes, “most of the blowout is a list of longtime Democratic spending priorities flying under the false flag of Covid-19 relief” as “a combination of bailouts for Democratic constituencies, expansions of progressive programs, pork, and unrelated policy changes.”

Here are some key excerpts, or click here to read the full editorial:

On Unemployment Insurance: CBO says it “will increase deficits by $246 billion, and that its $400 a week in federal ‘enhanced’ unemployment benefits through August ‘could increase the unemployment rate as well as decrease labor force participation.’ So much for economic stimulus.”

On Aid to State and Local Governments: “State revenues have largely recovered since the spring,” and given the way aid would be calculated based on unemployment, only “Andrew Cuomo’s New York (8.2% unemployment in December) and Gavin Newsom’s California (9%) get rewarded for crushing their businesses, while Kristi Noem’s South Dakota (3%) is penalized for staying open. These windfalls come with few strings attached.”

On Pension Bailouts: Despite pledging $86 billion, the bailout “comes with no real reform.”

On Funding for Schools: CBO predicts that 95% of new aid will spent from 2022 through 2028. “That is, when the pandemic is over.”

On Subsidizing Health Care Subsidies: “The political goal overall is to chip away at private coverage on the way to Medicare for All.”

They conclude: “No wonder Democrats want to pass all this on a partisan vote. It’s a progressive blowout for the ages that does little for the economy but will finance Democratic interest groups for years. Please don’t call it Covid relief.”

Click here to read the full editorial.