Rashida Tlaib has made a proposal that would pay illegal aliens $2,000 right away and an additional $1,000 a month until one year after the economy recovers. Of course, she is willing to give you some of your money, too but you will have to pony up for illegal aliens as a condition. She is allowing $2 trillion dollars for this project that she says will not increase the debt at all. She’s wrong, but that is what she says.
Here is her plan for raising the money:
Funding the Program
a. This Automatic BOOST to Communities Act would be a money-financed fiscal program for
which no additional U.S. debt would be issued.
b. Instead, the program would be funded directly from the Treasury, using its legal authority to
create money via coin seigniorage, which is a statutory delegation of Congress’s
constitutional power of the purse.
c. The mechanics of this funding approach would be as follows:
• The Treasury Secretary would direct the U.S. Mint to issue two $1 trillion platinum
coins, under the legal authority provided by 31 U.S.C. § 5112(k).
• Congress would direct the Federal Reserve to purchase the newly issued coins at full face
value.
• The Federal Reserve would complete the purchase by crediting the U.S. Mint’s account
at the Fed with $2 trillion in reserves.
• The Fed would retain ownership over the two $1 trillion coins permanently in order to
ensure its own balance sheet remains fully capitalized by the Treasury.
• The Treasury Secretary would “sweep” the newly created reserve funds from the Mint’s
account into the regular Treasury General Account.
• The Treasury would make the funds available to the Bureau of the Fiscal Service to
disperse to every person in America in the form of pre-paid U.S. Debit Cards.
And who does she say can collect this largesse?
Guaranteeing Universality
“Every person” includes:
a. Dependents, so a couple with two children would receive 4 x $2000 = $8000 in total.
b. Non-citizens, including undocumented people, permanent residents, and temporary
visitors whose stay exceeds three months.
c. Individuals who do not have a bank account, social security number, or permanent
address.
d. People living in unincorporated territories or protectorates and Americans living
abroad.
e. To ensure that this program is as universal and comprehensive as possible, the U.S.
Treasury will develop its list of eligible individuals in coordination with the Internal
Revenue Service, the Social Security Administration, the Federal Election
Commission, and every other relevant federal, state, and local government agency,
including state-level Departments of Motor Vehicles (DMVs).
Where does she think the treasury gets it’s money? It either has to borrow it or print it. Either way the debt rises and the dollar gets devalued. So, getting this free money hurts everyone except the illegal aliens. Just who does the Democratic party represent? Ill give you a hint. It’s not the American people.