Trump is preparing the United States for an unprecedented socialistic program that will lead to further economic issues and we need to speak out against it. According to the AP, Trump asked Congress to speed emergency checks to American citizens in an economic stimulus package that would amount to a trillion dollars. He aims to have checks in the hands of the people within two weeks.
There's no question the COVID-19 spread is going to be a major blow to the U.S. and global economies. Millions of Americans will be out of work, leaving those with no savings and who live paycheck-to-paycheck in a real bad spot. But Trump's program will be more disastrous down the road than good in the immediate term.
The government isn't sitting on an extra trillion dollars in cash. In fact, they are running a trillion dollar deficit. So in order to "stimulate", the federal government would go directly to the printing press like they did in the Great Recession.
But there's a difference.
When the Federal Reserve inflated the money supply in the past, the newly created money went to banks and large institutions, thus creating a rise in asset prices (stocks, bonds, etc). Trump's proposal would take all the newly created money and inject it right into consumer goods, thus creating inflation in the everyday items we need and depend on.
Apart from the inflationary problems, sending checks to all Americans sets us on a direct course to socialism. How long will the program last? How will the government continue to afford it? If the government is in the position of making payments to us, they will want something in exchange (most likely property). Look no further than what happens to the elderly on Medicaid or those who use ObamaCare coverage.
Trump's move would also make us more reliant on the federal government which is the antithesis to the foundation of our country. Instead of relying on Uncle Sam, this crisis is the opportune time for our dependence on government to shrink so we can instead rely on family, friends and community.
Action 4 Liberty suggests reaching out to family, friends and neighbors during this crisis to find out how you can help each other. Community solutions are a better course for this country than government dependence.
Instead of receiving a $1,000 check from the federal government of newly created money, Action 4 Liberty called upon the Minnesota Legislature to return the massive $4 Billion surplus to taxpayers immediately. It's our money that was overtaxed and no printing press would be needed to put it back in our pockets. Check out Rep Munson's Give It Back Act to learn more.