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|    alt.politics.economics    |    "Its the economy, stupid"    |    345,374 messages    |
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|    Message 343,624 of 345,374    |
|    davidp to All    |
|    =?UTF-8?Q?Don=E2=80=99t_Let_Unspent_Covi    |
|    16 May 23 22:44:44    |
      From: lessgovt@gmail.com              Don’t Let Unspent Covid Funds Become Slush Funds       By Joel Zinberg, May 7, 2023, WSJ       The House has passed the Limit, Save, Grow Act, which would raise the debt       limit for a year in exchange for deficit-relief measures. One of those       measures—recovering billions of dollars of approved but unspent Covid-19       relief funds—shouldn’t be        controversial. The official public-health emergency ends Thursday. The actual       emergency has been over for a long time. But some lawmakers want to use the       money as a slush fund.              Congress appropriated $4.6 trillion for pandemic response and recovery in six       Covid-19 relief laws enacted between March 2020 and March 2021. More than two       years later, $444 billion of the total remains unspent. More than $114 billion       hasn’t even been        obligated,” or committed to pay for goods and services ordered or       received. Of this amount, $90.5 billion remains available for obligation and       $23.7 billion has expired, meaning that it can’t be used to incur new       obligations.              Section 201 of the House bill calls for the rescission—permanent       cancellation—of these unobligated balances. Rep. Rosa DeLauro (D., Conn.),       ranking member of the House Appropriations Committee, objects and has produced       an eight-page list of projects        she says wouldn’t be funded if the unobligated balances are rescinded.              Undoubtedly, some of these projects are worthwhile, but Ms. DeLauro’s       catalog raises a big question: Why, more than two years after the money was       appropriated, hasn’t it been spent on these presumably valuable projects?              Bureaucratic agencies never return unused funds. They always spend them       regardless of the merits. If these unobligated funds, which agencies haven’t       found worthwhile uses for in more than two years, stay with the agencies, they       will be obligated and        spent.              The funds should be returned to the Treasury. That would reduce the deficit       and restore decision-making authority to Congress. If future projects are       truly valuable, lawmakers should fund them.              Cutting the deficit will require hard choices. Recovering unspent Covid funds       well after the emergency has ended is an easy choice.              Dr. Zinberg is a senior fellow at the Competitive Enterprise Institute and       director of the Paragon Health Institute’s Public Health and American       Well-Being Initiative.              https://www.wsj.com/articles/dont-let-unspent-covid-funds-become       slush-funds-pandemic-emergency-deficit-house-democrats-congress-       ppropriations-68b71057              --- SoupGate-Win32 v1.05        * Origin: you cannot sedate... all the things you hate (1:229/2)    |
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