Can America Really Take Paid Vacation Funded By Uncle Sam? – Dateway

Michael Osterholm is one of the doctors advising Joe Biden on the coronavirus.

He said the United States must impose a full lockdown for four to six weeks. Osterholm claims it won’t be a problem because the US government can just pay everyone.

In other words, Uncle Sam would give every American a paid vacation.

In his podcast, Peter Schiff explained why this proposal is ridiculous.

Osterholm actually suggested the foreclosure would be good for the economy in the long run.

Shutting down the economy for four to six weeks, according to this guy, would really allow us to jumpstart the economy because we would really eradicate the disease – although there really is no evidence that a lockdown is really going to do anything. it would be. But what this genius is proposing is, well, that’s not really going to hurt the economy, because according to this guy – I guess he’s not just a COVID advisor, I guess he is also an economic adviser – but what he says is, ‘We’re just going to ask the federal government to pay everyone. “”

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In fact, everyone takes paid vacation and the government writes everyone a check.

This is the kind of nonsense we are discussing now. Because everyone thinks, well, it doesn’t matter, because the federal government is going to pay for it. Now, of course, the federal government has no money. The federal government is broke.

Peter noted that the federal government just ran a deficit of $ 284 billion in October – the largest October budget gap in US history. Spending rose 4.8% from September.

If the economy is improving, why does the government have to spend even more money? You would think that if we really recovered, the government should provide less support to the economy. The fact that the government is spending even more is a sign of a weak economy that needs more government support, as if government support is actually working.

More telling is the fact that income is declining. If the economy really improved, the government would absorb more tax revenue, not less.

If anything, it shows you that there is no recovery – that the economy is relapsing. “

Meanwhile, more than 700,000 people have filed unemployment claims according to the latest weekly report released Thursday, November 12.

If the economy is recovering, why are so many people still losing their jobs? “

So where will the money for this paid vacation come from?

Now, we’ll just borrow it. Who will be stupid enough to lend it to us? No one. That’s why the Federal Reserve is going to have to print all this money. As if all this money printing isn’t going to hurt the economy.

Peter said all of this printing of money would cause far more damage to the economy than any damage from COVID-19.

Even though the lockdown ended up bending the curve a bit and saving lives, is it really going to be worth the cost? In fact, who knows how many more people are at risk of dying not only from the lockdown, but the economic damage from all the money the Fed has to print to support the lockdown. “

Then there’s the practical reality that everyone across the country just can’t stop working. Someone has to keep producing food. Someone needs to provide medical care. Someone has to pick up the trash.

Thinking that we can all stop producing – no one needs to help produce goods. No one is obligated to provide services. Yeah, we can all get paid like we’re still working. Now, where will all these things come from?

From a political perspective, Peter said it was perfect for Democrats.

They like to create a situation where more and more people depend on the government. In a way, this could be the end of the Universal Basic Income, because we are really starting the framework that everyone will be paid.

And once that happens, how do you get rid of it?

Once you start receiving that check, you will vote for any politician who promises to continue receiving the checks. And that’s exactly what Democrats want. They want to buy their votes, and that’s how they do it. But now that everyone thinks it’s all free, that as long as the Federal Reserve prints money, we get all of this government for free, so why bother working? Of course, no one wonders where everything we consume comes from? It doesn’t just magically appear. People have to produce it. It means you have to go to work. “

In this podcast, Peter also referred to an article we published on the growing debt burden of American retirees. He said it was just a sign that we have a huge economic bubble that is fully backed by debt.

It shows you how weak the economy is. Because if we had a strong economy, do you think the 70s and 80s should go into debt? No! Why are so many older Americans forced into debt? Because they are broke. Because they cannot afford to survive without debt. “

Most people focus on the economic problems created by the government’s response to COVID-19, but the growing debt burden of older Americans has evolved over the past two decades. This is not something new caused by the pandemic.

Of course, much of this debt will never be repaid. Much of the debt held by older people will be discharged upon their death.

It’s a huge ticking time bomb for lenders who won’t get paid back. “

But it goes beyond a retiree issue.

It also shows you that all this talk about this vibrant and booming economy is a bunch of nonsense. “

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