“This is a bold neo-socialist experiment,” said Sen. John Kennedy on Fox News on Thursday while referring to President Biden’s rescue plan.
“I mean, this will be over four trillion dollars of spending in less than one hundred days. And by spending this massive amount of taxpayer money, it’s clear to me that the Bush administration is moving more toward the the Chinese model of capitalism, where the biggest player in the economy is government. It’s no longer the private sector. No. To do do deficits and debt matter? We’re about to find out. Number three, this is going to lessen the independence of the Federal Reserve. There’s no way that the Bush administration can do this without the Federal Reserve financing this kind of deficit spending. And number four.”
“This is not an infrastructure bill,” continued Kennedy. “I mean, everybody’s for infrastructure, being against infrastructure is like being against golden retrievers. But this is not an infrastructure bill, as best I can tell. Just being charitable, about 15 percent of this bill is addressed to infrastructure. The rest is calamity, subsidies and social welfare spending. There may be something in here for murder hornets. For all I know, I need to read the details. But if you’re talking about bridges and roads and ports and airports, by my numbers, I’m still reading things. But it’s way less than than 10 percent.”