WASHINGTON, May 6, 2020 /PRNewswire/ -- In the wake of nearly $3 trillion in Coronavirus response spending by Congress, one thing is clear: relief measures have been woefully inadequate. Meanwhile the wealth of the billionaire class has surged amidst this pandemic. While Congress and the President congratulate themselves on the relief provided, not only is it inadequate, but much of the appropriated money has either gone to well-connected interests that did not need the money, or it has gone to large corporations with few strings attached. Most importantly, there is simply no excuse for the inadequacy of the relief spending, as concerns about the national debt are completely unfounded and misplaced. The following principles provide a framework against which to measure the inadequacy of Congress's actions:
Our Money Founder, Rev. Dr. Delman Coates argues, "We've been told all this money that Congress is spending is a stimuLUS, but it's a stimuLIE. The money that is actually going to the people that need it is pales in comparison to what Congress could and should be doing. They're throwing us crumbs while well-connected corporations loot the Treasury. It's 2008 all over again."
About Our Money
Our Money is a campaign which seeks to popularize an understanding of the importance of our public power of money creation and demand that it be used on behalf of the public to the fullest extent responsible, rather than diverted towards private interests.
Contact for inquiries:
Tomeka B. Scales, Ph.D.
*Sign up for the Our Money email list to stay informed on our campaign.
SOURCE Our Money
These press releases may also interest you