YEREVAN (CoinChapter.com) — The United States Congress has approved the controversial $1.7 trillion government funding bill.

The omnibus package, which had become the topic of a hot debate in the country, received overwhelming support first from the US Senate, passing with 68 in favor and 29 opposed, eight more than the required 60. 

Although former President Donald Trump had called on Republicans to vote against it, the Joe Biden administration received support from its political rivals. As many as 18 Republican Senators backed the bill. 

Following the Senate’s approval, the House passed the bill on Friday. The voting took place along party lines, with the final results reflecting 225 for and 201 against. 9 Republicans in the House of Representatives voted in favor of the bill, while one Democrat voted against it, with another voting present.

US President Joe Biden is now set to sign the same law. 

However, the controversy around the bill remains as American citizens brace themselves for an uncertain future amid high inflation and possible recession. 

The US National Debt crossed the $30 trillion mark this year. At current rates, economists expect it to reach $41 trillion by 2026. Yet, the Biden Administration seems to have other priorities.

What is the $1.7 trillion Federal spending bill?

The new legislation, over 4,000 pages long, will provide funding to the US Government until next September. This, according to Democrats, will prevent an encumbering in Congress next year when the Republicans take control of the House in January.

The bill envisions $772.5 billion for nondefense programs and $858 billion in defense funding. Controversially, the US Department of Defence (DOD) has received an 8% hike for defense programs. As a result, defense programs account for about half of the total amount. 

CoinChapter reported that the Pentagon failed to account for 61% of its $3.5 trillion in assets. This was the 5th-in a row audit failure of the DOD.

However, the haphazard, last-minute introduction and passing of the bill have become a matter of much criticism. Temporary Government funding runs out by Friday, and lawmakers are trying to avoid a possible Government shutdown.

As many Republicans and critics pointed out, the Democrats have tabled the bill hours before its deadline. This has been allegedly done deliberately to prevent a detailed discussion of its elaborate content. 

“The bill was given to us in the middle of the night, at 1:30 in the morning…There hasn’t been enough time for a single person to read through the entirety of this bill let alone time to deliberate or discuss the implications of this massive spending, “ 

Republican Senator Rand Paul said on the floor of the House. 

This move by the Biden Administration is very undemocratic and anti-people. Furthermore, the government is exhibiting authoritarian tendencies by waiving the legitimate point of order raised by the opposition and not allowing a debate or discussion. 

Recommended: As people in Europe suffer from US-led sanctions on Russia, Asian giants like India buy cheap oil

More aid to Ukraine amid the economic crisis? 

Since the Russian invasion of Ukraine earlier this year, the US Government has put its money where its mouth is. Not only has it led efforts to sanction Russia, but it has also sent billions in military and humanitarian aid to Kyiv. 

However, amid the economic crisis, the move has not received unanimous support. While the Republicans have threatened to cut funding to Ukraine, citizens are frustrated that their taxes are misused to fight someone else’s war.

It is no surprise that the anger against the $1.7 trillion federal spending bill is only getting worse. But, unfortunately, the Democrats are doing the opposite instead of cutting Ukraine funding. 

The latest omnibus package envisions an additional $45 billion in Ukraine’s military, economic and humanitarian assistance. This will bring the overall funding to the country to over $100 billion.

Several US Citizens have lashed out at the ludicrous proposition. 

“No more money for Ukraine. Fix our own problems first. Fix our own borders first. Fix our own country first. We are not the worlds police,” 

one angry reader commented on the news. 

Earlier this week, Ukraine President Volodymyr Zelensky addressed the joint meeting of the Congress. During his speech, he highlighted the importance of foreign aid and sought assistance from the United States. 

However, several conservative politicians slammed Zelenskyy, accusing him of facilitating money laundering. Others demanded an explanation of where all the previous funds went. 

“I don’t give a damn about Volodymyr Zelensky or which particular international criminal cartel rules in Ukraine, especially not when my own country is being purposely collapsed by the same people funneling billions to this clown and his cronies.” 

Scott Morefield, a writer for the conservative website Townhall, tweeted.

Meanwhile, the US has pressing economic issues…

The last-minute $1.7 trillion Federal spending bill is an insult to all those American households that can barely make ends meet. In addition, the Covid-19 pandemic and the Russian invasion of Ukraine have disrupted global supply chains. 

The energy shortages have caused fuel prices to skyrocket, hurting the budget of many low-income families. With increasing financial challenges, it is bizarre that the US Authorities are spending so much on increasing the military budget. The ramped-up assistance to Ukraine adds insult to injury.

Inflation in the United States reached 9.1% in 2022, up from just 0.6% in 2020. Official figures suggest that the poverty rate in the US is 12.8%. The Child poverty rate in the US was 16% nationwide as of 2020. As of January 2022, over 12.5 million live under poverty standards. 

Homelessness is also a pressing issue in the country. According to a 2021 report by the Department of Housing and Urban Development (HUD), it would cost just $20 billion to end homelessness in the USA.

This, therefore, begs the question, why does the Biden Administration not allocate those funds to help homeless Americans? Do the people in the United States deserve those funds less than those in Ukraine? 

As Senator Rand Paul pointed out, the bill “ignores soaring inflation, rising interest rates, and the ballooning $31 trillion national debt.”

The bill has also allocated funds to otherwise important but in no way urgent matters. For instance, the Democrats plan to spend $65 million “for necessary expenses associated with the restoration of Pacific salmon populations.”  

Moreover, it has set aside $3.6 million for the “Michelle Obama Trail – PATH Trail Project” in Georgia. 

End to Medicaid for millions of US citizens

The Biden Administration is more worried about Salmons than US citizens. Millions will lose their Medicaid public health insurance thanks to the $1.7 trillion Government funding bill.

During the Covid-19 pandemic, the number of people enrolled in the program crossed 83 million. During the pandemic, the US Congress barred states from removing people from the program. 

However, from April 2023, State Governments can terminate the provision for those citizens that do not meet the program’s pre-Covid eligibility criteria.

It is no wonder that former President Donald Trump called the bill “ludicrous, unacceptable” and a “disaster for our country.” 

“Biden and the radical Democrats are trying to ram through this monstrosity in the dark of night when no one has even had a chance to read it. It’s over 4,000 pages crammed with left-wing disasters, Washington betrayals, and special interest sellouts — all designed to keep the corruption going without lifting a single finger to solve the problems,” 

Trump hit out at his political rivals.

With the $1.7 trillion funding bill now a deal, it has once again displayed that the US Government doesn’t care about its citizens. 

The post US Govt’s $1.7T Omnibus Spending Bill Set to Make Americans Poorer appeared first on CoinChapter.

---

Filed under: Bitcoin - @ December 24, 2022 5:21 pm