Judging Freedom - School Districts Are Struggling to Spend Emergency Covid-19 Funds

Episode Date: May 18, 2022

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Hi, everyone. Judge Andrew Napolitano here for Judging Freedom. Today is Wednesday, May 18, 2022. It's about 1055 in the morning here on the East Coast. Last night, the government announced that of the $1.9 trillion, with a T, in cash that it gave away for COVID relief. This is legislation enacted by the Congress and signed by President Biden early in his first year in office, about $123 billion of which was going to the school systems in the United States to compensate them for the extra money they had to spend to teach people remotely. Guess how much of that money has not been spent? $120 billion of the $123 billion has not yet been spent.

And the schools were told by the federal government, if you don't spend it by the end of September, we're going to take it back. We're going to go back into the bank accounts into which we deposited it, physically remove it. Only the government can get away with that. Only the government can go into your bank account and take back money that it has given to you. But think about how profligate the government is with your money or to be proper, money borrowed in your name. These are not tax dollars. These are dollars that the government

borrowed by spending bonds, by selling bonds, or by having the Federal Reserve just create cash. So the government finds out, oh, we gave away too much money. We'll give them a little time to spend it. Now, what are the schools going to do? They're going to find ways to spend it on everything under the sun. $120 billion borrowed in your name will now be wasted. COVID is for the most part over. The schools are, as far as I know, back in session, operating the way they normally do. They didn't have need for this money in the first place. The government just gave the money away. You wonder why we have inflation. There's too much cash floating around.

Too many dollars chasing too few goods causes the price of everything to go up. And whose fault is it? The federal government, my dear friends. Prediction? The schools will find a way to get rid of this cash, to spend it on frivolous things or on candy that they've had their eyes on, so to speak, before they let the feds go into the bank accounts and claw that money back. Judge Napolitano for judging freedom.