Is There Wasteful Spending In The Coronavirus Stimulus Bill? (Spoiler Alert: Bigly!)

By Tyler Durden

Is There Wasteful Spending In The Coronavirus Stimulus Bill? (Spoiler Alert: Bigly!)

Authored by Adam Andrzejewski via Forbes.com,

Last night, the U.S. Senate unanimously passed a $2 trillion “Phase III” emergency aid package to help America recover from the coronavirus lockdown. Previous phases provided funds for testing and paid family leave.

Not one U.S. Senator voted against the legislation: 96-0. Twice during the first hour of Senate debate, two “final” versions were distributed. No one had time to read the final language.

Our organization at OpenTheBooks.com posted an official summary of the legislation’s supplemental $340 billion surge to emergency funding here.

The Republican majority Senate and Leader Mitch McConnell (R-KY) introduced their 250-page version of this coronavirus aid relief and economic security act a week ago. It eventually became the $2 trillion, 883 page CARES Act – Coronavirus Aid, Relief, and Economic Security Act (H.R.748).

Two days ago, in the ramp up to negotiations, House Democrats and Speaker Nancy Pelosi introduced the “Take Responsibility For Workers and Family’s Act” (H.R.6379) – a $2.5 trillion, 1,404 page coronavirus response.

Our auditors dug deeply into McConnell’s Senate …read more

Source:: Zero Hedge

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