One year ago on March 11, 2021, President Biden signed the COVID exploitation bill euphemistically titled the American Rescue Plan. It was probably the peak of his presidency.
The results? Fewer jobs created than the CBO projected without the bill — which means 4 million less than the White House promised.
This helpful fact sheet from House Budget Committee Chairman Jason Smith notes that less than 9% of the $2 trillion spending bill was directed to fighting COVID. At least $500 billion went to bailout out states and local governments.
The House this week is expected to consider a bill to spend another $15 billion on COVID requested by President Biden. Republicans have insisted that they will support it only if it comes out the unspent ARP funds.
But we have a much better idea — rescind all the unspent funds and don’t spend them at all.