{"id":2152804,"date":"2024-01-18T14:38:02","date_gmt":"2024-01-18T19:38:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-2-trillion-covid-bill-made-inflation-worse-jamaal-bowman-wants-to-spend-seven-times-as-much-on-reparations\/"},"modified":"2024-01-18T14:43:32","modified_gmt":"2024-01-18T19:43:32","slug":"bidens-2-trillion-covid-bill-made-inflation-worse-jamaal-bowman-wants-to-spend-seven-times-as-much-on-reparations","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-2-trillion-covid-bill-made-inflation-worse-jamaal-bowman-wants-to-spend-seven-times-as-much-on-reparations\/","title":{"rendered":"Biden&#8217;s $2T COVID bill worsened inflation; Bowman seeks to spend 7x more on reparations"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidens-2-trillion-covid-bill-made-inflation-worse-jamaal-bowman-wants-to-spend-seven-times-as-much-on-reparations%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2152804&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><blockquote>\n<h2>&#8216;Where did that money come from? We spent it into \u2064existence,&#8217; congressman says of Biden&#8217;s \u2062pandemic response<\/h2>\n<figure><figcaption>Rep. Jamaal \u200dBowman \u2062(Chip Somodevilla\/Getty Images)<\/figcaption><\/figure>\n<\/blockquote>\n<div>\n<p>New York Democratic congressman \u2063Jamaal Bowman is citing the federal government&#8217;s \u200dCOVID-era spending\u2014which drove up inflation\u2014as proof that Congress can pass a $14 trillion\u2063 reparations package without raising taxes, saying the money can simply be &#8220;spent into existence.&#8221;<\/p>\n<p>Bowman touted the package, which he <a href=\"https:\/\/www.congress.gov\/bill\/118th-congress\/house-resolution\/414\/cosponsors?s=1&#038;r=1\" target=\"_blank\" rel=\"noopener\">cosponsored<\/a> last \u200byear alongside fellow left-wing lawmakers Ilhan Omar (D., Minn.) and Cori Bush (D., Mo.), in an <a href=\"https:\/\/www.yahoo.com\/news\/bowman-co-sponsors-bill-seeks-080036672.html\" target=\"_blank\" rel=\"noopener\">interview<\/a> with the\u2062 <em>Journal\u200b News<\/em>. Addressing \u200dconcerns over how to pay for the package, \u2062Bowman cited the government&#8217;s \u2063response to COVID, saying Congress can &#8220;invest the same way\u200d in\u200c reparations\u200b without raising \u200btaxes on anyone.&#8221;<\/p>\n<p>&#8220;When \u2064COVID was destroying us, we invested \u2063in the American people in a way\u2062 that kept the economy afloat,&#8221; Bowman said. &#8220;Where did that money come\u200c from? We spent \u200cit into existence.&#8221;<\/p>\n<p>Bowman&#8217;s comments come as Americans continue to grapple with high inflation, which <a href=\"https:\/\/www.cbsnews.com\/news\/inflation-up-december-cpi-report\/\" target=\"_blank\" rel=\"noopener\">edged up<\/a> in December thanks to rising food and housing prices. President Joe Biden&#8217;s\u2063 nearly $2 trillion American Rescue Plan, which \u200cBowman\u200c voted for, <a href=\"https:\/\/www.nytimes.com\/2021\/10\/18\/business\/economy\/fed-inflation-stimulus-biden.html\" target=\"_blank\" rel=\"noopener\">contributed to those \u2063price hikes<\/a>. Still, Bowman said he \u2064had no reservations about spending seven times \u200cas \u200cmuch money\u2014and adding to the $34 trillion \u200bnational\u2063 debt\u2014to \u200cpay roughly $333,000 to every black \u2064American, given that \u200cthe money could be paid\u2062 out &#8220;over 5\u2062 or 10\u200c or 20 years.&#8221;<\/p>\n<p>&#8220;You \u200ccould \u2062take that $333,000 and break it \u200cup into monthly checks over X amount of time,&#8221; Bowman said in his \u2062 <em>Journal \u2062News<\/em> interview. &#8220;There \u2064are \u2063creative\u200d ways to do the right thing and do what needs\u2064 to be \u200bdone.&#8221;<\/p>\n<p>Bowman&#8217;s \u200cfellow\u2063 New York lawmakers disagree. Reps. Mondaire Jones (D.) and Mike\u2063 Lawler (R.) oppose the bill, as does Westchester County executive George Latimer (D.), who is challenging Bowman. Latimer dismissed Bowman&#8217;s proposal as a &#8220;one-house \u2063bill \u2064with no \u200dchance of\u2062 passing,&#8221; a reference to the fact that\u2062 the legislation does not have a sponsor in the Senate and would therefore not advance to the upper chamber even if it passed \u2063the House.<\/p>\n<p>&#8220;It\u200d is clearly \u2062a political statement \u200bmore than anything else,&#8221; Latimer <a href=\"https:\/\/www.yahoo.com\/news\/bowman-co-sponsors-bill-seeks-080036672.html\" target=\"_blank\" rel=\"noopener\">said<\/a>.<\/p>\n<p>Public finance economist and\u200b Heritage \u2064Foundation research fellow\u200c E.J. Antoni criticized Bowman&#8217;s bill for a different \u2063reason\u2014its exorbitant\u200b price tag.\u2062 The estimated $14 trillion, Antoni\u200d noted, is more than half of America&#8217;s 2022 GDP.<\/p>\n<p>&#8220;The federal government doesn&#8217;t \u200bhave enough money to pay its current bills, let alone more spending\u200b that would exceed well over half the nation&#8217;s\u200d entire\u200d economy,&#8221; he told the <em>Washington Free Beacon<\/em>.<\/p>\n<p>Bowman\u2014who did not return a request \u200dfor comment\u2014nonetheless argued \u2062that his reparations package is morally necessary \u200bbecause &#8220;the economy wouldn&#8217;t \u200dexist in the way it does today if\u200c slavery hadn&#8217;t built it,&#8221; prompting the\u2064 need to invest in the black community. Job Creators Network president and CEO Alfredo\u200b Ortiz dismissed that argument.<\/p>\n<p>&#8220;Big government policies like Bowman&#8217;s reparations package hurt the\u2063 very\u200d minorities they \u2064intend to help,&#8221; \u2062he told the <em>Free Beacon<\/em>. &#8220;The COVID spending blowout is a prime example, as it led to historic inflation that has disproportionately hurt minorities who tend to have lower and more\u200d fixed incomes.&#8221;<\/p>\n<p>&#8220;The best way to close racial economic divides,&#8221; he continued, &#8220;is through increased entrepreneurship\u200d \u2026 not a reparations \u200cpackage that \u2062will further destroy the dollar and depress labor \u2062force participation.&#8221;<\/p>\n<\/div>\n<p> <\/p>\n<h2> \u2064 What are \u200dthe \u200c<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-nixes-offshore-oil-leases-thru-2023-while-tapping-strategic-oil-reserve\/\" title=\"Biden Nixes Offshore Oil Leases Thru 2023 While Tapping Strategic Oil Reserve\">potential economic consequences<\/a> of implementing a $14 trillion \u200creparations package, \u2062and how could it \u200cimpact inflation and national debt?<\/h2>\n<p><span>  Agreed with his stance. Rep. Alexandria Ocasio-Cortez, a \u200bprominent progressive \u200bin the Democratic Party, expressed \u2062support\u200c for \u2063the idea of reparations and emphasized\u2063 the need to address racial wealth disparities\u2062 in \u2064the country. She\u2062 argued that the \u2064government&#8217;s ability to spend \u200btrillions of dollars during the pandemic proves that resources can\u200d be allocated\u2064 for reparations without burdening taxpayers.<\/p>\n<p>However, not everyone is \u200dconvinced by\u2062 Bowman&#8217;s argument. Critics argue that spending \u2063trillions of dollars \u200dwithout considering the consequences would\u200b further\u200b exacerbate inflation and add to the already significant\u2064 national debt. They warn that such\u2064 a massive expenditure without a \u2063clear plan for funding could have <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/thanks-to-needless-covid-school-lockdowns-your-kids-lifetime-earning-potential-plummeted\/\" title=\"Thanks To Needless Covid School Lockdowns, Your Kids\u2019 Lifetime Earning Potential Plummeted\">long-term negative effects<\/a> on \u2063the \u200deconomy.<\/p>\n<p>Furthermore,\u200b opponents of reparations argue that it is unfair \u2062to single \u2063out a particular racial group for financial compensation. They argue that instead \u2063of providing reparations based on race, the focus \u2062should be on <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/weekend-media-wrap-vol-18-what-you-missed-if-you-werent-glued-to-the-sunday-shows\/\" title=\"Weekend Media Wrap, Vol. 18: What You Missed If You Weren\u2019t Glued To The Sunday Shows\">addressing systemic \u2063issues<\/a> and providing \u200dopportunities for economic advancement for \u200dall Americans,\u200c regardless of \u200dtheir background.<\/p>\n<p>The issue of reparations has\u2062 long been a \u200btopic of debate in the\u2064 United States. \u200bIt stems from \u2063the history of slavery and \u2064racial \u2062discrimination that has \u200bdeeply impacted black \u2064Americans. Proponents \u200bargue that reparations\u2064 would\u200b acknowledge\u200c and attempt to rectify these past injustices. However, the logistics\u2062 and feasibility of implementing such\u2063 a program remain\u200d complex and divisive.<\/p>\n<p>As the\u200b discussion \u200daround \u2064reparations continues, it is important for\u200c policymakers to\u2062 carefully \u200cconsider\u2062 the economic implications and ensure that any proposed solutions\u2062 address the underlying causes of racial wealth\u200c disparities while also promoting\u200b economic stability for all Americans.<\/p>\n<p>In\u2064 conclusion, Congressman Jamaal Bowman&#8217;s assertion that a $14 trillion reparations package can be &#8220;spent into existence&#8221; similar to the \u2063government&#8217;s COVID-era spending raises\u2063 important\u200c questions \u200babout the role \u200dof government spending, taxation, and economic consequences. \u2064While the idea of reparations has its proponents and opponents, it is crucial to have a \u2062thorough and \u2063thoughtful discussion to find equitable solutions that address\u2062 historical injustices while\u200d also considering the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-update-third-round-of-direct-payments-worth-up-to-4555-to-arrive-in-four-days\/\" title=\"Social Security update: ,555 direct payments coming in four days.\">broader economic impact<\/a> on the \u200bnation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Where did that money come from? We spent it into existence,&#8217; says Rep. Jamaal Bowman, referring to the federal government&#8217;s COVID-era spending. He believes this proves that Congress can pass a $14 trillion reparations package without raising taxes, citing inflation as a result of increased spending<\/p>\n","protected":false},"author":2088,"featured_media":2152805,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[],"class_list":["post-2152804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2152804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2088"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2152804"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2152804\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2152805"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2152804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2152804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2152804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}