The Madness of Nancy Pelosi’s HEROES Act

Nancy Pelosi’s HEORES ACT

House Democrats have Introduced the Heroes Act – May 12, 2020

Some interesting facts about the Heroes Act that is supposed to be a response to the COVID19 Crisis and provide relief and help for the millions of Americans adversely affected by the economic shutdown.

The first, and most important thing to know about the proposed Democrat’s Heroes Act is that, as it is written, it currently stands as a 3 trillion dollar piece of legislation, marked as a coronavirus response to the pandemic threatening the nation, and to protect the lives and livelihoods of the American people.

Let’s get some perspective by looking at the federal budget for the past three years and the 2020 Projections before the CoronApocalypse.

2017

Expenditures: $3.982 Trillion

Revenue: $3.316 Trillion

Deficit: $665 Billion

2018

Expenditures: $4.109 Trillion

Revenue: $3.330 Trillion

Deficit: $779 Billion

2019

Expenditures: $4.4 Trillion

Revenue: $3.5 Trillion

Deficit: $984 Billion

2020 Projections – the 2020 federal budget has not been finalized

Expenditures: $4.7 Trillion

Revenue: $3.6 Trillion

Deficit: $1.1 Trillion

Based on the yearly deficits. We have added 2.428 Trillion dollars to the National Debt. I’m going to tell you that that number is not the real number. Years ago, Congress passed a law that allowed it to take all the unspent funds collected by Social Security, at year’s end, and apply it to the budget, offsetting the projected deficit, even though an IOU was written for the funds to the SS Admin. In other words, it’s a governmental way of cooking the books. I’d guess we can add quite a few billion dollars to the reported deficits. In fact, this scheme was what allowed Bill Clinton, and his cronies, to claim he ran a budget surplus for two or three years. Those years were during the Dot.Com.Boom and, given all the additional tax revenue that was generated, along with the Social Security overage, it was made to look like there was no deficit. Don’t worry, we haven’t had a budget surplus since sometime back in the 1950’s.

Now to the problem of the 3 Trillion dollar HEROES Act and its over 1800 pages.

• The word “cannabis” appears 68 times in the document. The Democrat Party is trying to legalize pot and want to fund minorities to enable them to open cannabis establishments in their minority neighborhoods. Sounds like a plan, huh? I’m sure the single mothers, already struggling to keep their kids on the straight and narrow, are all for this idea.
• The word “jobs” appears 8 times. Hmmm, thought his was all about jobs.
• Gives stimulus checks to “unauthorized immigrants” and their families.
• Requires ICE to release all detained immigrants who aren’t subject to mandatory detention.
• Shields immigrant “essential workers” from deportation while 22 million Americans are out of work.
• Removes penalties from employers in critical industries, allowing them to hire unauthorized immigrants during the pandemic, while 22 million Americans are out of work.
• Speed up visa and green card processing for immigrant medical professionals, anyone seeking to practice medicine, conduct medical research, or pursue education train to combat COVID19, while thousands upon thousands of American medical workers are out of work because hospitals have gone dark due to the emphasis on treatment of COVID19 only.
• Health benefits for immigrants regardless of status.

I could go on but let me get to the meat. To date, Congress has passed, and President Trump has signed, legislation that has provided 2.484 Trillion dollars of Coronavirus relief.

• The CARES Act provided $2 Trillion in three separate bills.
• An Economic Relief Bill provided $484 Billion.

This is money that is separate from the regular federal budget, and it is all money that we don’t have. It all goes right on the bottom line of the National Debt.

Now, if the HEROES Act were to be passed at the requested 3 Trillion dollar price tag, that would bring coronavirus relief, in 2020, to 5.5 Trillion dollars. Add that to the projected deficit of the 2020 regular budget and we’re adding 6.6 Trillion dollars to the National Debt, and there are those who say we’re not finished with Coronavirus relief.

Given the 23.25 Trillion dollars of debt we began the year with, and the 6.6 Trillion dollar we are proposing for Coronavirus relief, we are looking at a National Debt somewhere north of 30 Trillion dollars. Do you know who is going to be crushed by that? Your grandchildren.

Change My Mind!