I heard that the Democrats are trying to pass a huge “omnibus” spending bill, and I thought it would be useful for us to take a look at it. Who does this “omnibus” bill help? And will it cause inflation to continue to rise?
This is from Daily Wire:
And according to The Heritage Foundation, the omnibus bill they may not have time to read is packed with woke pet projects. Among them are a number of LGBTQ projects — from pride centers to museums — and “anti-racism” initiatives, according to a thread shared on Twitter on Tuesday.
What followed was a list of the “woke agenda” projects — along with their respective price tags and which areas of the country stood to benefit from omnibus money.
“$1.2 million for ‘LGBTQIA+ Pride Centers’; $1.2 million for ‘services for DACA recipients’ (aka helping illegal aliens with taxpayer funds) at San Diego Community College; $477k for the Equity Institute in RI to indoctrinate teachers with ‘antiracism virtual labs,’” the thread continued.
More projects were listed in the following tweets, including “$1 million for Zora’s House in Ohio, a ‘coworking and community space’ for ‘women and gender-expansive people of color’; $3 million for the American LGBTQ+ Museum in New York City; $3.6 million for a Michelle Obama Trail in Georgia.”
New York’s state capital is set to receive three-quarters of a million dollars for “LGBT and Gender Non-Conforming housing”; Baltimore will rake in a cool $2 million for a wax museum dedicated to African Americans, tentatively named “Great Blacks in Wax”; and New York will get over $800,000 for an “LGBT center.”
An additional $750,000 is earmarked for the “TransLatin@ Coalition” in Los Angeles, which is supposed to create “workforce development programs and supportive services for Transgender and Gender nonconforming and Intersex immigrant women.”
On Twitter, North Carolina Republican congressman Dan Bishop had another list of wasteful spending items in the “omnibus” spending bill:
- an additional $47 billion in Ukraine funding, and the bill also authorizes a “Ukrainian Independence Park” in Washington DC.
- $11.33 billion for the FBI. $1.75 billion for the ATF. & $2.63 billion for US Attorneys, with an emphasis on J6 prosecutions and domestic terrorism cases. All with significant increases from the previous year.
- $535 million for the Corporation for Public Broadcasting, which indirectly funds NPR via grants.
- it expressly prohibits CBP funding from being used to improve border security.
- it allocates $1,438,000,000 for membership in global multilateral organizations, including the UN.
- it allocates at least $575 million for “family planning” in areas where population growth “threatens biodiversity.”
- $524.4 million for a DEI and “structural racism” focused NIH subdivision
- it allocates $410 million towards border security for Jordan, Lebanon, Egypt, Tunisia, and Oman.
- $335 million to prepare for an influenza pandemic! Including the use of surveillance tools.
- $286 million in Title X funding, which funds Planned Parenthood.
- Gender programs in Pakistan and a $200 million for a Gender Equity Fund.
- $70 million for minority business development – an increase of $15 million from Fy22.
- nearly $26 million for the House of Representatives Office of Diversity and Inclusion.
- $7.5 million to better understand the “domestic radicalization phenomenon,” plus $1 million for gun violence research. These research programs are often a smokescreen for violating civil liberties down the road.
What will be the end result of spending $1.7 trillion for Americans? I think it will cause inflation to go up, and people will pay even higher prices for gas, groceries and everything else. The higher inflation goes, the more interest rates will rise.
One of my favorite places to go to find out what is going on in the economy is the Wall Street Journal. There, I found a recent article entitled “Inflation Isn’t Vanquished Yet”.
The Bureau of Labor Statistics reported that inflation rose only 0.1% in November, and shelter made up half of the monthly increase. The 12-month inflation rate fell to 7.1% in November, which is down from 7.7% in October and is the fifth annual rate drop in a row since inflation peaked at 9.1% in June. The Fed’s monetary tightening is making a difference.
Yet a 7.1% increase in prices is still a long way from victory, and inflation continues to be sticky across much of the economy. Food rose 0.5%. Much of the decrease came in energy prices, which are volatile, and fell by 1.6%. But service prices excluding energy services rose 0.4% and are up 6.8% in the past year. The core CPI less energy and food rose 0.2% in the month and is still high at an annual rate of 6%.
What does this mean? It means that inflation is not under control, and interest rates will have to continue to rise. That’s bad news for economic growth. If Biden gets his omnibus bill passed, then we will be looking at rising inflation again, and an even longer recession that is currently being considered. I hope Democrat voters understand that they can’t spend their way out of inflation. It’s the spending that’s causing it.