- Silver Report Uncut
The media has lost it with their reporting on the economy and this $1.9 trillion spending bill. The stimulus package includes $360 billion in relief for state, local, and territorial governments. That is almost 20% of the entire allocation of capital in this measure. While $360 billion may sound small, the total cost of the stimulus checks would be $245 billion if we gave a $1,400 stimulus check to each of the 175 million who make less than $75,000 a year. Add in $300 unemployment insurance per week for the 10 million Americans who are out of work and you could fund the $3 billion of unemployment insurance for almost 10 months before you had given more money to the people, rather than to local and state governments. so overall there is less money going to the regular people are more money flowing to state and local governments. It’s crazy they always describe stimulus as a positive and never discuss the drawbacks of insane sovereign debt.