Yesterday, 10:16 AM
By David Stockman
April 27, 2024
This is an excerpt from David Stockmans book: Trump’s War on Capitalism.
As it happened, the US Congress acted like greased lightning, enacting the $2.2 trillion CARES act virtually sight unseen just eleven days after The Donald’s March 16 press conference initiated the Covid lockdowns. The bill was over eight hundred pages long and included a more ostentatious cornucopia of spend- ing authorities and free stuff than had ever before been imagined in even the most profligate quarters of Capitol Hill. This tsunami of money amounted to roughly $6,000 for every man, woman, and child in America, or 45 percent of all federal government expen- ditures in 2019.
The money was literally shoveled into the US economy in mas- sive dollops with virtually no eligibility standards, qualification pro- cesses, and enforcement/accountability procedures. This included:
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