Democrats Lose War on Cash in Fight against Chinese Virus Funding
As American families suffer both medical stresses and economic hardship under the current Chinese Virus pandemic, the Democratic Party seem to be following the political advice of Rahm Emanuel when he said “Never let a crisis go to waste”.
While the Trump administration and GOP leadership appear to be gearing their plans and solutions at least in a constructive direction, House Speaker Nancy Pelosi and the radical members of the Democratic Party are using the suffering of American families and workers as a way to advance extreme policies.
These policies can be seen in the details of her fourteen hundred page $2.5 trillion dollar plan which include earmarks for many things that have nothing to do with fighting the Chinese Virus:
$35,000,000 for the he John F. Kennedy Center for the Performing Arts
$100,000,000 for NASA
$278,000,000 for the Internal Revenue Service
$300,000,000 for the Department of State Migration and Refugee Assistance
As well as measures demanding diversity on corporate boards, making airlines decrease their carbon emissions, and more tax credits for windmills.
And then there was the creation of the United States Digital Dollar.
In the fine print of Pelosi’s first draft plan was the ground work for the infrastructure of a central bank digital currency.
The bill establishes a digital dollar, which it defines as ‘a balance expressed as a dollar value consisting of digital ledger entries that are recorded as liabilities in the accounts of any Federal Reserve Bank or … an electronic unit of value, redeemable by an eligible financial institution (as determined by the Board of Governors of the Federal Reserve System).’
The bill also establishes a digital dollar wallet, which it identified as ‘a digital wallet or account, maintained by a Federal reserve bank on behalf of any person, that represents holdings in an electronic device or service that is used to store digital dollars that may be tied to a digital or physical identity.’
In the latest negotiations with the Trump administration and GOP Leadership on the Stimulus Spending Package Speaker Pelosi’s plan for a centralized digital currency has been scrubbed dealing a blow to the Democrats war on cash.