If we aren’t vigilant, this country will become socialist one city at at time. This time it’s a very liberal city within the mostly conservative state of Texas. Austin is experimenting with a yearlong, $1 million pilot program that will give $1000 checks to low-income families to keep them housed.
Under Austin’s program, there will be no restrictions on how the money is used. That should work well! It’s always a good idea to give humans free money, because they always use it for what they’re supposed to….
The city of Chicago is doing something similar and we all know how well that city is run!
This is nothing more than another stimulus check. Did these people not learn a single thing from the pandemic “stimulus” checks? Investopedia defines a stimulus check as “a check sent to a taxpayer by the U.S. government. Stimulus checks are intended to stimulate the economy by providing consumers with some spending money. Taxpayers receive this money because it’s intended to boost consumption and drive revenue at retailers and manufacturers, spurring the economy.” This is just the city government version of the same.
Four economists at the Federal Reserve of San Francisco, analyzed the federal government’s response to the pandemic and stated that “…since the first half of 2021, U.S. inflation has increasingly outpaced inflation in other developed countries. Estimates suggest that fiscal support measures designed to counteract the severity of the pandemic’s economic effect may have contributed to this divergence.”
The U.S. government was quite generous in handing out cash to almost every American. But even a top economist with the Obama administration tried to warn that all this cash being handed out would not ultimately help. His name is Larry Summers and he warned that passing another stimulus bill in the spring of 2021 “will set off inflationary pressures of a kind we have not seen in a generation.”
But the Democrats wouldn’t listen and now here we are, with inflation at a 40 year high. So how does this wrap back around to Austin’s socialist program? Again, that $1000 cash with no strings attached is just another stimulus check. Throwing more money out into the economy can only make inflation worse.
Do you think their plan will work?
