By Wolfgang Effenberger.
Before signing the Care Act on 27 March 2020, Trump underlined the importance of the day. Trump said he will sign the largest economic aid package in American history. The package will be „twice as large“ and „will deliver urgently needed relief to our nation’s families, workers and businesses“
Finally, Trump thanked the Republicans and Democrats for coming together, putting aside their differences and putting America first.
By signing the bill, initiated by the House of Representatives (H.R. 748) “Coronavirus Aid, Relief, and Economic Security Act,” (“CARES Act”) gained legal status.(2)
The CARES Act includes measures designed to provide some economic and fiscal relief to companies, small businesses and individuals who have run into financial difficulties as a result of the COVID-19 crisis (3).
But behind the help for US citizens in financial difficulties hides the “single-biggest economic relief package in American history”. This law is worth up to 6.2 trillion (US trillion) dollars.
Even in relation to the size of the total federal budget, the CARES Act is considerable.
In 2019, federal revenues amounted to a total of 3.5 trillion dollars. The CARES package alone will swallow up more than half of this revenue.
Last year, the federal government spent nearly $1 trillion more than it earned. Before the coronavirus crisis, the Congressional Budget Office predicted that a deficit of over $1 trillion would remain for at least the next ten years. The CARES Act will increase the deficit by $1.8 trillion dollars in 2020 alone.(4)
Fed revenues. 3.5 trillion US dollars
Fed spending. 4.4 trillion US dollars
Trump’s fiercest opponent in Congress, House Speaker Nancy Pelosi (D-Calif.), was also moderate: “Today, as we have all acknowledged, our nation faces an economic and health emergency of historic proportions due to the coronavirus pandemic, the worst pandemic in over 100 years. The American people deserve a government-wide, visionary, evidence-based response to address these threats to their lives and their livelihoods, and they need it now.“(5).
Only Democratic Congresswoman Alexandria Ocasio-Cortez (N.Y.) poured some vinegar into the wine and called the Coronavirus Emergency Law “one of the largest corporate bailouts” in American history. (Reuters)
This rescue operation was brought to the House of Representatives by Democrat Joe Courtney on 24 January 2019.
H.R. 748 – 116th Congress (2019-2020)
Middle Class Health Benefits Tax Repeal Act of 2019
This draft law abolishes the excise tax on employer-sponsored health care services for which there is a surplus (high cost plans). The repeal applies to taxable years beginning after 31 December 2019.
This all sounds very unsuspicious.
This makes it all the more necessary to shed light on the 14 months between signing and entering the House of Representatives:
24.1.2019: Motion in the House of Representatives by the Democrat Joe Courtney; referred to Ways and Means Committee
21.5.2019: Inclusion of the law in the consensus calendar
18.7. 2019: Submission to the U.S. Senate
31.12. 2019: China reports pneumonia of unknown origin discovered in Wuhan to the WHO country office in China
21.1.2020: The Centers for Disease Control and Prevention (CDC) reports the first coronavirus infection in the USA
30. 1. 2020: WHO Director-General declared the outbreak of the Novel Coronavirus (2019-nCoV) an international health emergency.
27. 3. 2020: US President signs CARES Act
Who can correctly classify this incredible process?
Against this background, the current contributions on the relationship between the USA and China appear quite meaningless and hardly conducive to overcoming the global crisis:
15 hours ago – Corona vaccine: USA accuses China of espionage. Worldwide competition for a vaccine against sars-CoV-2.
According to the USA, Beijing is having research institutes spied on – with the help of hackers and students.
Corona in the USA: Donald Trump’s economic advisor demands compensation from China. Update, May 11th, 5:40pm: US President…
04.05.2020 – The US government again fires up the theory that the corona virus originates from a Chinese laboratory. But there is no …
Sources:
1) https://youtu.be/D-chBV7A0n8
2) https://www.whitehouse.gov/briefings-statements/remarks-president-trump-signing-h-r-748-cares-act/
3) https://www.congress.gov/bill/116th-congress/house-bill/748
4) https://www.heritage.org/budget-and-spending/commentary/how-big-the-covid-19-cares-act-relief-bill
5) https://www.washingtonpost.com/us-policy/2020/03/27/congress-coronavirus-house-vote/
6) https://kenfm.de/wp-content/uploads/2020/05/03.jpg
7)https://de.wikipedia.org/wiki/Centers_for_Disease_Control_and_Prevention
8)https://www.zeit.de/zustimmung?url=https%3A%2F%2Fwww.zeit.de%2Fpolitik%2Fausland%2F2020-05%2Fcorona-impfstoff-usa-china-forschungsdaten-diebstahl-hackerangriff
9)https://www.zeit.de/zustimmung?url=https%3A%2F%2Fwww.zeit.de%2Fthema%2Fchina
10)https://www.merkur.de/welt/corona-usa-donald-trump-new-york-fauci-tote-zahlen-infizierte-aktuell-twitter-massnahmen-zr-13750442.html
11)https://www.sueddeutsche.de/politik/corona-usa-china-1.4896401
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