The Fiscal Bacchanalia of 2020, Part 2

Senator Rand Paul was hitting on all cylinders last night in a fiery speech denouncing the 5,593 page, $2.3 trillion abomination then pending before the Senate. And he didn’t spare the rod when it comes to the cowardly complicity of his GOP colleagues:

To so-called conservatives who are quick to identify the socialism of Democrats: If you vote for this spending monstrosity, you are no better….

….We are borrowing and worsening this debt crisis, in part, because too many governors and mayors have imposed heavy handed restrictions that crush business…

“When you vote to pass out free money, you lose your soul and you abandon forever any semblance of moral or fiscal integrity…..

“If free money was the answer… if money really did grow on trees, why not give more free money?

“Why not give it out all the time? Why stop at $600 a person? Why not $1,000? Why not $2,000?

Maybe these new Free-Money Republicans should join the Everybody-Gets-A-Guaranteed-Income Caucus? Why not $20,000 a year for everybody, why not $30,000? If we can print out money with impunity, why not do it?

Exactly. The road to fiscal armageddon is now clearer than ever before because this monstrosity happened only by the complicity of a Republican Senate and White House.

Indeed, there are 53 Republicans in the Senate and only five others voted against the bill including Marsha Blackburn (TN), Ted Cruz (TX), Ron Johnson (WI), Mike Lee (UT) and Rick Scott (FL).

So that makes for 47 “Free-Money Republicans”, which tells you all you need to know. Namely, that the Fiscal Opposition is now dead as a doornail in Washington.

It is only a matter of time until even the mendacious fools in the Eccles Building will run out of excuses and willingness to monetize the ballooning national debt; and when that happens, the $100 trillion global bond market will go into violent cardiac arrest.



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