Robbing the Future - In Opposition to HR 1319
Congressman McClintock delivered the following remarks on the House floor in oppostion to HR 1319:
Robbing the Future
In Opposition to HR 1319
March 10, 2021
One thing all sides agree on: this is the most liberal bill ever passed by Congress.
But beware: there’s no such thing as free money. ALL OF IT must be borrowed from the same capital pool that would otherwise be available as loans to consumers, homebuyers, and small businesses. And it will be repaid entirely from YOUR future earnings in the years ahead.
Divided by the number of U.S. Households, the bill for an average family comes to roughly $15,000 – that’s money that HAS TO be taken from your family through future taxes and inflation, and through lower wages and earnings as businesses pass along their costs. That’s the ONLY way government debt is financed.
Government lockdowns have devastated America’s prosperity. The answer is to end the lockdowns – not rob Americans of their futures by crushing their families under debt that will destroy their opportunity, independence, and prosperity in the years ahead.