Sen. Rand Paul says a far bigger threat to the U.S. economy than the coronavirus pandemic is “one-size-fits-all” solutions and new debt embraced by lawmakers.
The Kentucky Republican — fresh off recovering from COVID-19 — told colleagues that trillions of dollars in new debt coupled with muddled policies would not bear good economic fruit.
“Not all the money in China will save us from ourselves,” he said Thursday. “Our only help of rescuing this great country is to reopen the economy.”
Mr. Paul said it was bizarre to blanket America with billions of dollars in stimulus cash to individuals who essentially won’t be able to use it.
“If you print up billions of dollars and give it to people, they are unlikely to spend it until you end the quarantine,” he said The Blaze reported. “The virus is still dangerous and we shouldn’t ignore the risks, but we should put those risks in perspective! … Make no mistake: the massive economic calamity we’re experiencing right now is caused by government. Passing out $1,200 checks indiscriminately, to people who haven’t lost their job, will do nothing to rescue the country!”
The Republican warned that “our recovery only comes when the quarantine is ended” while adding that he wanted to be on record as resisting Congress’ legislative response to the pandemic.
“This money doesn’t exist anywhere,” he said. “It will be created or borrowed. … I did return today, though, so that history will record that not everyone gave in to the massive debt Congress is creating. My hope is that across the country there will remain a vibrant voice for limited government, for our constitutional Republic. I don’t want to see this massive accumulation of debt destroy this great country.”
• Douglas Ernst can be reached at dernst@washingtontimes.com.
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