In case you had any lingering doubts that forcibly shutting down the entire economy over a virus and replacing economic activity with government payments does not represent a smart strategy, the Associated Press has more evidence to bolster the case.
Its latest investigation, titled “The Great Grift,” highlighted the staggering scope of fraud taxpayers face because of Covid-era programs. On the heels of earlier AP investigations that showed significant spending on projects that had little to do with the coronavirus, the story provides one major explanation — albeit an infuriating one — for our nearly $32 trillion-and-counting federal debt.
Hundreds of Billions in Waste
Overall, the AP analysis found that the federal government appropriated nearly $5.2 trillion on Covid-related efforts during the pandemic. That total includes roughly $3.2 trillion shelled out under President Donald Trump, in addition to the $1.9 trillion “stimulus” legislation that Democrats rammed through after President Joe Biden took office.
Other figures seem even more shocking. For starters, roughly 20 percent, or $1 trillion, of the $5.2 trillion “has yet to be paid out, according to the [Pandemic Response Accountability] Committee’s most recent accounting.” You read that right: More than three years after the coronavirus first hit — and after the Biden administration (finally) ended the public health emergency for the virus — there is still $1,000,000,000,000 in federal “Covid cash” left to be spent. (Much of the money has been contractually obligated but not yet spent, which provides an explanation — or excuse, depending upon one’s point of view — as to why Congress could not rescind the full $1 trillion in last month’s debt limit deal.)
