“Free Money”: Most Americans Want The Government To Issue More Stimulus Checks by for The Economic Collapse Blog
“When the people find that they can vote themselves money that will herald the end of the republic.” That is a direct quotefrom Benjamin Franklin, and it has turned out to be quite prophetic. Today, most of our politicians are socialists whether they accept that label or not, and the American people have come to expect the government “to do something for them” whenever any sort of a crisis comes along. In response to this COVID-19 pandemic, Congress has borrowed and spent trillions more dollars that we do not have, and most Americans have been quite thrilled to receive their “stimulus checks”. But of course now a lot of people are insisting that those checks were not enough and they want more. In fact, one new survey just found that most Americans want the checks to keep coming. The idea of “free money” is so seductive, but unfortunately most of the population simply does not understand that eventually there is a great price to be paid for throwing “free money” around.
So far, more than 300,000 people across the globe have died during this pandemic. But during the Spanish Flu pandemic that stretched from 1918 to 1920, somewhere between 50 million and 100 million people died. During that horrific pandemic, our society did not shut down and the federal government did not borrow and spend giant mountains of money in a desperate attempt to keep the economy afloat. Instead, our leaders responded with common sense and quiet resolve, and it set the stage for a tremendous economic boom during “the Roaring Twenties”.
Unfortunately, this time around our leaders responded to COVID-19 by locking down nearly the entire country, and that is going to result in the largest GDP collapse in American history…
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In its latest projections, the CBO sees GDP capsizing 38% on an annualized basis in the second quarter with the 26 million more unemployed Americans than there were at the end of 2019.
The forecasts are roughly in line with Wall Street economists and slightly less dour than the most recent tracking number from the Atlanta Federal Reserve, which sees GDP falling about 42% in the April-to-June period.
Without a doubt, we are now in a very deep economic depression, and the months ahead look very bleak.
But instead of focusing on solutions, many Americans are desperate for the federal government to take care of them. According to one recent survey, 82 percent of Americans want the government to issue more “stimulus checks”…
A whopping 82% of people feel that the one-time stimulus check of $1,200 is not enough to cover their expenses. They feel that these checks should continue until the lockdown ends.
I have a hard time believing that number is actually that high, but even if you cut that number in half it would still be astounding.
Have we now reached a point where much of the nation is eager to embrace full-blown socialism?
Apparently so, and that is quite discouraging.
But the “free money” that socialists promise is never actually free.
When the Federal Reserve creates trillions of dollars out of thin air and pumps it into the financial system, that is not “free money”.
