Imaginary Money
Senator Rand Paul (R KY)
Randal Howard Paul (born January 7, 1963) is an American politician and physician serving as the junior United States Senator from Kentucky since 2011. He is the son of former U.S. Representative Ron Paul of Texas who was a presidential candidate in 1988, 2008, and 2012.
Born in Pittsburgh, Pennsylvania, Paul attended Baylor University and is a graduate of the Duke University School of Medicine. Paul began practicing ophthalmology in 1993 in Bowling Green, Kentucky, and established his own clinic in December 2007. In 2010, Paul entered politics by running for a seat in the United States Senate. A Republican, Paul has described himself as a Constitutional conservative and a supporter of the Tea Party movement. He has advocated for a balanced budget amendment, term limits, privacy reform, and criminal justice reform.
Paul was a candidate for the Republican nomination at the 2016 U.S. presidential election. He suspended his campaign in February 2016, after finishing in fifth place out of 12 Republican candidates at the Iowa caucuses.
Source- Wiki
Here he slams Obama’s Administration for their hiding of Biden and his son Hunter’s Ukraine corruption.
Skippy sends.
Rand Paul warns of ‘economic calamity’: Federal government passing out ‘imaginary money’
By Joshua Nelson
Sen. Rand Paul said on Wednesday that while states continue to keep their economies shut down due to coronavirus, there will be an “economic calamity” because the federal government is already so deep in debt.
“We have no money, we have no rainy day account, we have no savings account. The three trillion that we’ve already passed out is imaginary money,” the Republican Kentucky lawmaker told “America’s Newsroom.”
Paul said that money is being borrowed from China, highlighting the irony that the United States is going to be more dependent upon the country that is responsible for spreading the coronavirus to Americans.
Meanwhile, California borrowed $348 million after receiving approval to use up to $10 billion in federal funds until the end of July, a Treasury Department spokesman told the Wall Street Journal on Monday.
Illinois and Connecticut have also been approved to tap into federal funds to aid with the unemployment claims — $12.6 billion and $1.1 billion, respectively – but neither state had requested to borrow the money as of the end of April.
California, who would boast the world’s fifth-largest economy if it was an independent nation, has been hit hard economically by the coronavirus pandemic. About 3.7 million people have filed unemployment claims in the state since mid-March.
Sounds pretty grim, but there is a path forward. Read the rest of the article here: Fox News
Thanks Skippy.
*borrowing currency, not money.
What ever CT is doing with that $1.1B is a waste, guaranteed. Lamont is a public sector union whore.
Please excuse any spelling; on a conference call that is so enthralling I can post a reply on my phone.
I am asking for help with this:
I’ve always had an issue with the claim that California would be the “fill in number” largest economy in the world if it was an independent state. I’ve claimed they would not because their “current value” takes into account the billions of dollars they receive which are shuffled around from the other 49 states. I have stated for a while that if they were an independent state they would be bankrupt within a week.
Is my belief correct or is there something I am neglecting to take into account?
You’re failing to take into account the irrational fiscal thinking liberal nanny state folks tend to follow.
“We can’t run out of money,we’ll just print more!!”
Currency is a (intentionally) depreciating “asset”.
“Gotta keep the FREE SHIT ARMY happy”
Forbes
Ouch. Wait until all the shakeout from the Wu-mageddon hits the “entertainment” industries. Anyone see Disney’s earnings? Yeah, neither did they. What’s going to happen to all of the movie houses?
California can’t afford to run their stupid mouths any longer.
I see what you’re saying. I believe that if CA is rated only by what it produces and then sells it would be a very large economy. But your point is well taken. If their debts to the feds and large banks as well as state-funded welfare programs are taken into account, then they about as well off as Greece. One of the problems with CA is that every dollar they get, they spend or more accurately give out. They have NO savings of any sort and their only relief comes from us, we taxpayers in other states and those in CA. They are not unlike many states, just far worse. I guess there must be some satisfaction to being in Berkeley and having your $10 out to pay for your Starbucks, only to have the person in front of you hand over their SNAP card.
Also, they import much of their water and electricity from other states, since they have so badly mis-managed those requirements.
That won’t become cheaper crossing a border.
Their industries are heavily dependant on relatively free access to the rest of the USA. They can’t just re-direct stuff to other markets.
Again, that trade won’t get cheaper crossing a border
Some in California, predominantly on the left, have convinced themselves that the state’s economy is somehow independent of the rest of the country. The truth is quite the opposite.
Many thanks to all who replied to my question.
What the Cal-exit dipshits fail to consider is that they are severely lacking in two resources that would ensure their collapse should they actually try to secede:
1–electricity
2–water
Your move, Gavin.
Yeah, well, Rand Paul is right. At some point these debtor states will go belly up financially and we’ll be in another recession – a real one this time – and possibly an economic depression. Then what will they do?
They know how to spend, mostly on themselves. but they don’t know how to produce anything. That has never been more clearly exposed than now.
Well it dang sure didn’t take a kongress kritter to tell me this. “…you eventually run out of other people’s money.” Just imagine how well the economy would have been cranking along if the kongress kritters had not of been spending the last 3 years putting obstacles in the way and screaming ORANGE MAN BAD. All of that being said, until we let people get back to work, to do trade and commerce, the grubmint won’t have any money.
Our only salvation for the long term health of the economy is to run up the debt to the Communist Chinese that caused this and then tell them to go piss up a rope. Those bastards are laughing their asses off as our economy AND our Republic continues to melt down.
Obama running his trap and Biden having the da balls to run for prez
After what happened in 2016 should be a eye opener but most voters
Are asleep at the wheel absolutely amazing
Cuomo has just informed all those medical folks that rushed to New York to help that they now owe NY Income Tax.
That is just f###ing evil.
Trump should bill him for all the help sent.
Plus, their earnings are also likely subject to NYC city income tax.
I’m waiting for somebody to hit them up for union dues as well.
Don’t give them any ideas.
Wait until they try that with some of the AD troops on USNS COMFORT.
Then the shit will REALLY hit the fan.
Cuomo apparent not only said that old folks homes had to accept folks infected with ChiCom Coof, they were also prohibited from relocating sick folks to the field hospitals or USNS Comfort.
Kinda hard to attribute this one to incompetence. Malice is looking like a better fit.
Despicable. Either way.
The entire health care industry has been bankrupted by the quarantine.
Without elective surgery, the hospitals are less than half full.
No eye surgery, no colon cancer screening, no plastic surgery, has reduced incomes.
Both doctors and nurses are being laid off or forced to take pay cuts.
Look for
Look for Many hospitals to go out of business in the near future.