https://www.rushlimbaugh.com/daily/2020/04/24/is-out-of-control-spending-souring-trump-supporters/
snip:
You spend more than you take in, more than you have. The national debt kept rising, and for all of our lifetimes… I don’t know about you, but my parents and grandparents warned me the national debt was single-handedly gonna destroy the country. And my whole life, it hasn’t — that we know of. But certainly not in the ways that I and my brother were warned by our parents and grandparents.
So then during the Obama years, we started printing money like crazy. We started calling it “quantitative easing.” It happened, and it was money that was sent in a circuitous way to Wall Street. It was used to shore up securities and (sigh) make sure that people that had a second house in the Hamptons wouldn’t have to sell it during a crash.
That didn’t seem to do any harm, and that didn’t seem to take money out of the private sector. There was no limitation on how much you can borrow. The theory has always been that the more money government borrows, the less there is for the private sector. But banks were still lending money; interest rates were reasonable; in some cases, coming down.
So a lot of theory didn’t seem to hold up, and people were scratching their heads. Trump started… I don’t remember specifics. I just know that there was a lot of federal spending going on. Now, let’s jump forward to this. Do you realize $6 trillion — well, let’s say $2.2 trillion and then a couple of four or five hundred billions, and by the time it’s all finished it will be around $6 trillion.
We’ve taken the national debt from $20 trillion to $25 trillion here, all to combat a virus, all to pay people not to work. Still, I know and you know a lot of people that haven’t gotten any of their small business loan money. Maybe you’re one that hasn’t. You wonder, “Where’s the money going?” and then you see a headline in the news: “Billionaires’ Wealth Expanding During Virus.”
You say, “How the hell can that be?” Well, there are reasons for it. But there just doesn’t seem to be any limit, regardless what it’s for. Forget for a moment that the Democrats are loading up in this emergency spending a bunch of stuff that’s got nothing to do with it, and you’re upset with Trump for signing it when you expected him to stand up to it.
Hey, he is not going to be the one responsible for the money not getting out. There’s no way it’s gonna happen. So whatever’s in it, he’s gonna sign it. Just like he did. He signed another $454 billion today, and you ask, “Where’s it coming from?” We’re printing it or we’re borrowing it. Trump’s like to say, “We’re borrowing it at no interest.”
It clearly isn’t a concern, and it’s not gonna be a concern for whoever the next president is. We’re free to spend the money. What worries me about it — among many other things — is look what we’re doing. We are inadvertently (or maybe advertently) fulfilling one of the assertions that big leftist-socialists make.
And that is we can, with government spending, keep people fed while they don’t have to work. Meaning we can create this utopia. The Democrats are looking forward to nuking the idea that you have to work to have a lifestyle. Now, the fact of the matter is the government can’t pay what people can earn themselves, but it can pay enough people.
I mean, minimum wage is 15 bucks, right?
Let’s just say it is. The government is giving away far more than the minimum wage right now to people. So when this ends, what would you prefer if you’re a minimum wage earner and you’re being paid $52,000 to $55,000 during the coronavirus here not to work, to make sure you stay at home and to make sure you have food? Now it’s over and you gotta go back to work at 15 bucks an hour.
What are you gonna choose?
So there’s a lot of sociological things happening here in the midst of this that portend things we’re gonna have to overcome again, education, information programs are gonna have overcome again with people. It’s gonna be hard. How are you gonna tell people government can’t support you? “Well, they just did for a year, Rush.” For however long this goes on. “What do you mean the government can’t support? The government just did for six months, Rush. During the coronavirus shutdown, I didn’t want for anything. I didn’t have to work, Rush. What do you mean the government can’t do it?”
Well, the government’s gonna eventually run out of money. “No, they won’t Rush. They’ll just print some.” It’s gonna be a real tough educational objective, if people in the Republican Party even care to try again. Or will it be, “Okay, we’re gonna throw the towel in, okay, spending is part of American life now, and there’s no limit to what government can spend.”
