Fed Spends As Much Each MONTH as Sequestration Budget Cuts Cost In a YEAR
Stopping the failed war on drugs would more than pay for the $83 billion dollars in “sequestration” budget cuts.
Congressman Grayson notes that we could replace the sequestration cuts by ending the Afghanistan war early.
We could pay for the budget cuts – and save a lot more money – by cutting down on waste and fraud.
And the Fed is buying $85 billion dollars – the amount of annual sequestration cuts – each month to carry out “quantitative easing” … a policy which benefits the super-elite but hurts the American people and the economy as a whole.
Stop the Fed’s quantitative easing program, and we’ll be in much better shape.
Note: Admittedly, the Fed does get something for its money, so $85 billion is a gross -not net – figure. But it’s getting is worth a lot less than $85 billion a month.
And there are much cheaper and much more effective ways to help the economy. For example:
- Force the big banks to write down bad debt
Category: Think Tank
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