Post ARP

In an editorial last week the New York Post called it the ‘worst spending bill ever’.

The American Rescue Plan (ARP) was the most expensive spending bill in half a century. It takes remarkable economic illiteracy and incompetence to apply $1.9 trillion in “stimulus” in a manner that actually worsens the economy, and (with few small exceptions) fails to address any significant policy challenges.

The main points are hit including this on the multiemployer plan bailout:

Finally, the public barely even noticed an $80 billion bailout of bankrupt union pension systems, which overrode bipartisan negotiations for a cheaper solution. This federal bailout of private pensions sends a message to all corporate and union pension systems that any future underfunding will simply be rewarded with a taxpayer bailout.

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