New DEBT as far as the eye can see, has our government no shame?

King Trump today:  New DEBT as far as the eye can see...King Trump on Sunday night signed into law the $1.4 trillion fiscal 2021 appropriations and the $900 billion Covid-19 relief deal Congress approved last week, after criticizing the measure and signaling he might not sign it for days. The House will vote today to raise stimulus checks to $2000, but it is not likely to get 60 votes needed to pass the Senate (which means the stimulus checks remain at $600 and the rest of the bill remains the same) “As President I am demanding many rescissions under the Impoundment Control Act of 1974. The Act provides that, "whenever the President determines that all or part of any budget authority will not be required to carry out the full objectives or scope of programs for which it is provided, or that such budget authority should be rescinded for fiscal policy or other reasons (including termination of authorized projects or activities for which budget authority has been provided), the President shall transmit to both Houses of Congress a special message" describing the amount to be reserved, the relevant accounts, the reasons for the rescission, and the economic effects of the rescission. 2 U.S.C. § 683.”  The bill will remain law regardless of what Congress decides to do with President Trump's request for rescissions.

 Stimulus bill includes:

• Extension of all pandemic unemployment insurance programs by $300/week per person.
• $600/person stimulus checks (which change depending on income).
• $284 billion to Small Business Administration and Payroll Support Program extended through March 31, 2021.
• $27 bln for airlines and other transportation (potential related stocks: UAL, AAL, DAL, LUV, JBLU, SAVE, HA).
• $15 bln for live event places.
• $84 bln for schools.
• Additional money for vaccine distribution, and testing. No money for state and local governments. No liability protection.
• The bill includes new Fed language: "rescinds more than $429 billion in unused CARES Act funds; definitively ends the CARES Act lending facilities by December 31, 2020; stop these facilities from being restarted, and forbids them from being duplicated without Congressional approval."