Bernie Madoff once said that “the whole government is a Ponzi scheme.” As the government passed trillions in COVID-19 stimulus spending over the past year, many Americans Ponzied the government right back.
The CARES Act and the American Rescue Plan each poured countless billions of taxpayer dollars into federal unemployment benefits, stimulus checks, and small business loans. Indeed, a Department of Labor probe discovered that state and federal officials’ lack of communication and failure to cross-reference databases caused at least 10% of unemployment aid to be improperly distributed.
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