Carol Platt Liebau, Yankee Institute for Public Policy President, wrote in her Friday Wall Street Journal op-ed about President Joe Biden’s dangerously expensive Wuhan Virus “relief” bill. A truly Pyrrhic relief it would be, too, even were it not occurring on an already dangerously expensive pair of “relief” bills enacted over the prior year.
She had one statement, though, that particularly jumped out at me, perhaps because it centers on a matter I’ve been on about for a bit already.
President Biden wants to send $350 billion in unrestricted cash to state and local governments to fill their budget holes.
Money is fungible. It doesn’t matter whether a dollar is “restricted” or unrestricted in its use. Even if it is, its mere existence frees up another dollar for the supposedly restricted-from use.
Aside from that, the States don’t need the Federal (which is to say our taxpayer) money. State revenues are much higher than initially expected, even in Progressive-Democrat-locked down and -run States.
In addition, the public union shakedowns of which Leibau wrote further demonstrate the lack of need.