As is his way, Kentucky Sen. Rand Paul isn’t sugarcoating the realities around our economic situation. Appearing on Fox News’s “America’s Newsroom,” Paul threw cold water on the states still enforcing lockdown orders and preventing their residents from getting back to work.
“We have no money, we have no rainy day account, we have no savings account. The three trillion that we’ve already passed out is imaginary money,” said Paul.
“It’s being borrowed, basically, from China. So the irony is we got the virus from China and now we’re going to be more dependent by borrowing more money from China,” continued Paul.
“The only thing that recovers our economy is opening the economy,” said Paul. “It’s not a lack of money, it’s a lack of commerce. If you let people have commerce, if you let them trade, if you take them out from forcible home arrest, our economy will recover. But if you keep everybody under home arrest and say you cannot practice your business, you cannot sell your goods, there will continue to be economic calamity.”
Paul launched after blue-state leadership for keeping their states on lockdown as well.
“All these blue state governors who don’t want to open their state, now they’re clamoring for federal money to bail them out because no state revenue is coming in. We don’t have any money,” Paul warned.
He’s not wrong. Our debt was already bad enough, but blue states seem to be calling on a broke federal government for more cash that it doesn’t have according to Fox News:
Meanwhile, California borrowed $348 million after receiving approval to use up to $10 billion in federal funds until the end of July, a Treasury Department spokesman told the Wall Street Journal on Monday.
Illinois and Connecticut have also been approved to tap into federal funds to aid with the unemployment claims — $12.6 billion and $1.1 billion, respectively – but neither state had requested to borrow the money as of the end of April.