Congratulations! You Have Just Financed Your Stimulus Package
Have you received your stimulus check yet? The government has deemed it a good idea to give the taxpayers, and non-payers also, a bit of money to spend.
So the wheels have been set in motion. Where does all this money come from? The U.S. is broke and borrowing money from the likes of China and Japan to maintain itself. The Federal Reserve loans money to the citizens of this country and collects the interest on the loans. The Federal Reserve is not a government agency. It is a group of banks, many foreign, which we have given the right to loan us money and charge interest on it.
Not only will the taxpayers have to pay back this loan, but we will pay the interest on it, for the benefit of bankers who may, or may not, have the best interest of this country at heart.
At one time the tax base of this country was vibrant and able to handle the debts of the country. Due to the amount of business going overseas, that tax base has dwindled. Our “free” trade policies have allowed big business to use the stability of the U.S. to seek out the lowest labor in the world, thereby depriving millions of our own workers a decent paying job.
When we granted China “most favored nation” status we opened the floodgates for cheap goods, made by cheap labor. The Chinese, not being dummies, lobbied for this status, realizing that it needed to do something to bring its masses up to a better standard of living. They were apparently a lot better at negotiations than our bureaucrats charged with this job. They insisted on the companies that set up shop in China give over their business secrets, including research and development. Big business, always seeking cheap labor, and with the bottom line always paramount, complied.
These concessions have allowed China to build up its impressive military. It also has allowed a modest increase in living standards. Most importantly, perhaps, it has allowed it to make enough money in order to loan some to us. When they came seeking to buy something substantial with their money, instead of holding securities, the citizens became alarmed enough to stop some of the purchases.There was substantial opposition to an attempt to buy Unocal and Maytag. But, how much longer will China wait to get paid back for their loans?
We find ourselves in the situation of individuals receiving a small amount of money, designated as stimulus. While the individual will receive this small amount, the overall cost will be heavy. Plus interest. This means that our children and our grandchildren will be burdened with this debt, added to the massive debt the country owes right now.
We used to hear the phrase, when contemplating our debt: “we owe it to ourselves”. In other words, it is manageable and not to worry about it. Our healthy industry will produce enough revenue to pay it off. It is no longer just owed to us. It is owed to foreign entities who have been our enemies and would like to see this system of government gone forever.
The Federal Reserve, the group of banks that manages our economy by setting interest rates, is not made up of just American citizens. It does not have our country’s best interest at heart, except to keep the host alive while it continues to bleed it.
Our representatives in Congress, being mainly interested in keeping their jobs, are in favor of this stimulus. Many Americans have long ago given up the notion that these politicians, far removed from the daily problems of their constituents, are in their corner.
So, enjoy your stimulus, and thank your kids and grandkids, to whom we have passed along our debt.
Barbara regularly writes for CapitolHillCoffeeHouse. She also appears in California Chronicle, Border Patrol, and Citizens Caucus. Her primary interest is illegal immigration, but she writes about other subjects as well.
Barbara lives in a large city on the West Coast. Her loyalties are with God, family, country, heritage and borders.
She enjoys music, painting, poetry and song writing.