tv U.S. Senate Sen. Rand Paul on Ukraine CSPAN May 20, 2022 6:47am-6:59am EDT
voted to gift $40 billion to ukraine argued it is in our national security interest. i wonder if americans across the country would agree if they had been shown the costs, if they had been asked to pay for it. if supporters for ukraine had been honest with americans, they could have implemented a war tax. i'm sure it would have been popular. by my calculation, each person would have to pay $500 to support this $40 billion, which by some accounts is down payment and will need to be replenished in about four months. so a $500 tax to every american income taxpayer would be paid to this. that is not how it is done in washington. we say, put it on the tab, we don't want to be honest and transparent with the taxpayer, we just add it to the debt.
we could have taken the $40 billion elsewhere in the budget, we could have said we spent $770 billion on our military which is more than the next eight countries combined, we could have taken it out of our military interest. perhaps it could be a military expenditure. we don't want to tax the people. we don't want them to know there is a punishment for this. we don't want to take it from somewhere elsewhere someone else is getting rich off of this money. no. we simply borrow it. put it on my tab is what congress says. so, yes, that is what will happen. when americans go to the grocery store, they will pay yet again higher prices and when americans go to the gas pump they will spend more for gas because there is no free lunch. $40 billion cannot be created out of thin air, although it sort of is from the fed. but this increases demand and
this causes inflation. debt leads to inflation. now, when the ink is not even dry on the money that we are shoveling out the door for ukraine, the democrats are back. it hasn't been yet an hour. we're still in the same hour that $40 billion was given away to a foreign country. now that that $40 billion is gone, there is -- they are busy with the printing press printing the money up, the ink is not yet dry now they want $48 billion more for covid bailouts. perhaps there was another alternative. perhaps instead of locking down the economy, which studies did not change the trajectory of the virus, perhaps instead of locking the economy down and ruining businesses, we could have not locked the economy down. that was an alternative and one if this happens again, we should learn a lesson, it did not change the trajectory of the
virus, it's no the answer. the answer is to lock down again and bail people out because guess what? almost $6 trillion was spentsz bailing out the economy. we didn't have it. we didn't have a rainy fund. you can't open a big safe door and say we'll give it to people we ruined by shutting the economy down. there's no money. we're already a trillion dollars in the hole. if you look at our ..you look at our nses, medicare, medicaid, social security, the military, food stamps, a few more social programs, that's the budget. that's a trillion dollars short. what comes in, what goes out, we're a trillion dollars short and then the last two years we borrowed $6 trillion more. is it any wonder we have inflation. but the other side is not even saying they understand where inflation comes from. they think it's greed. i wouldn't accept that from a third grade class.
it's more ronic. what do they suppose? everyone got together and the people that control the gas price became greedy last month. well, that's absurd on the face of it. greed has nothing to do with it. people are always self-interest. inflation comes from the expansion of the money supply. m-2 is a broad measure of the money supply. the last three years the m2 has been expanding at an annual clip. you can't expand the money supply by 15% and not get inflation. in january of last year, the m-2 was expanding at an an liesed rate of 27%. why? because we don't have the money to give people. it's dishonest. we give people stuff and say here's free stuff. you don't have to work anymore. we're closing your business down. here's some money. but we don't have it so we'll print it up or borrow it. that's what went on the last two years. congress went on a spending
spree. more than $6 trillion was given away. my colleagues may be shocked to learn is that it's never really free. there's no such thing as a free lunch. in fact, lunch actually costs a lot more than it did before. congress started spending all of this free money, but while the $30 trillion national debt continues to climb, congress continues to spend. you would think they would be chasten. we have nearly double din legitimate inflation. you think they would be saying oh, my goodness, we have to stop digging the hole deeper. instead they want to send $48 billion more after lunch. last month they sent over a hundred billion dollars in subsidies out. they doubled the size of one of the most wasteful government organizations we s.r. the national science foundation. so no, they're not chastened. inflation is caused by borrowing in debt and the fed monetizing it. what are they doing? they're making it worse. after two years of running up the taxpayers' credit card by $6
trillion, you'd think they would be beginning to grasp the problem. small businesses, hardworking americans simply can't spend any more of the money we don't have. we can't keep giving away money. maybe we shouldn't be surprised that democrats have now come to the realization or have not come to the realization that there are authoritarian lockdowns and ending spending caused the highest inflation in 41 years. in today's exercise, democrats want to spend another $48 billion. where's the emergency? the lockdowns have mostly been ended over the last year. and yet there's this all hurry up, we must print up more money. the $40 billion we gave to ukraine is -- the ink is not even dry but we have to shuffle out another $48 billion. where is the plrg? there will be $40 billion in this for restaurants, new grants will go to yachts, yacht clubs, limousine businesses, racket clubs and luxury gyms.
and minor league sports. oh, boy. we have an emergency that we need to get the minor league sports involved with the bailout. while americans across the country are getting poor. americans can't afford to put the gas in their car to go on vacation. americans are losing income every day. the average american family is paying $100 more every week, $100 more. $5200 a year is being lost to inflation for the average american family. what are we doing to protect them? i have great symphony for businesses that were -- sympathy for businesses that were forced to shut down during the pandemic. the lockdowns should never have happened. but we have no evidence that the lockdowns and restrictions altered the trajectory of the virus or saved one live. shutting down businesses is not based on science but based on a
perverted political science. no government check, no passing out of a bailout can beat the operating of the market. the marketplace is the only thing that created the great wealth of our country and the only thing that can continue to help us. yet the other side insisted on economic shutdowns only to prop up the market with taix pairs -- with the taxpayers' wallet and borrowed money. democrats need to wake up and realize that dumping more money in the economy is simply pouring $5 a gallon gas on an already out-of-control fire. america can be a rising nation again if we let it. the people have had enough with mandates and lockdowns. it's time to end the bailouts and once again let the free market rein