Kiss the Dollar Goodbye

House Democrats are expected today to approve a $1.9 trillion legislative Christmas tree masquerading as a crisis response to the ongoing pandemic. President Biden insists that every dime is urgently needed, asking rhetorically what would anyone propose be left out.

Sean Hannity responded last night by noting that only 9% of this massive spending bill directly relates to the damage done by the so-called Covid virus. The rest of it is earmarked for unrelated, pork-barrel priorities of congressional leaders and their favored lobbies.

If enacted, this legislation will effectively mean we’ll be printing lots more money. That could prove the last straw for the dollar, whose status as the world’s reserve currency the Communist Chinese and others are determined to end.

If that happens, the resulting devastation of our economy will make the present crisis look like the good old days.

This is Frank Gaffney.