America has long been an economic and military powerhouse at the center of the world’s stage. However, heavy and unbridled spending may send the nation into deep poverty like devastated political regimes such as Venezuela, according to Sen. Rand Paul.
“New 1,000,000 bolivar note in Venezuela worth 53 cents,” noted Paul, while commenting on a Bloomberg article on hyperinflation. “Will US be the next Venezuela with Congress borrowing over $6 trillion in one year?”
New 1,000,000 bolivar note in Venezuela worth 53 cents. Will US be the next Venezuela with Congress borrowing over $6 trillion in one year?
Hyperinflation Pushes Venezuela to Print 1,000,000-Bolivar Bills – Bloomberg https://t.co/IzPGWrNAwv
— Senator Rand Paul (@RandPaul) March 7, 2021
Fox News explained that “Venezuela’s economy has deteriorated due to, oil prices, the coronavirus and years of hyperinflation, according to Reuters. Its central bank issued a new banknote worth 1 million bolivars that will be worth 52 cents. The report said that many Venezuelans use U.S. currency to complete transactions.”
Similarly, the US may be headed down a slippery path.
After the Senate passed President Biden’s $1.9 trillion COVID-19 relief bill, Fox News noted that Sen. Mitt Romney, also was upset about “wasteful spending in the bill, including providing billions in financial assistance to states that do not need it.”
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