Unprecedented Government Spending

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Unprecedented Government Spending

By Antony Davies, Co-Author of COOPERATION AND COERCION

 

The federal government has pumped $4.8 trillion into the economy over the past 11 months. Imagine what the U.S. would have looked like had the government just divided that $4.8 trillion among U.S. households. What would that have done? There are 123 million households in the U.S. Given income cutoffs, the stimulus checks have been going out to around 80 percent of those households. Had the government simply divided that $4.8 trillion evenly among the 80 percent of 123 million households, each would have received a check for almost $50,000. Now think about what the U.S. would look like right now if 80 percent of households had received a check for $50,000. For one thing, and for the first time in the history of the human race, a country would have entirely eradicated poverty

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