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What can you get for $9.4 billion?
3G Capital recently purchased footwear giant Skechers for $9.4 billion.
$9.4 billion could cover your rent for a pretty nice apartment in New York City for more than 40,000 years.
Yes, it will just be you and the cockroaches by then.
Or, you could pay the cost of every major disaster in the past four decades – ranging from Chernobyl to Fukushima to Hurricane Sandy.
‘LONG OVERDUE’: SENATE REPUBLICANS RAM THROUGH TRUMP’S CLAWBACK PACKAGE WITH CUTS TO FOREIGN AID, NPR
But $9.4 billion isn’t a lot when cast against nearly $7 trillion in annual spending by the federal government.
And it’s really not much money when you consider that the U.S. is about slip into the red to the tune of $37 trillion.
Which brings us to the Congressional plan to cancel spending. That is, a measure from Republicans and the Trump Administration to rescind spending lawmakers already appropriated in March. The House and Senate are now clawing back money lawmakers shoved out the door for the Corporation for Public Broadcasting and foreign aid programs under USAID. The original proposal cut $9.4 billion. But that figure dwindled to $9 billion – after the Senate restored money for “PEPFAR,” a President George W. Bush era program to combat AIDS worldwide.
In other words, you may have a couple thousand years lopped off from your rent-controlled apartment in New York City. Of course that hinges on what Democratic mayoral nominee Zorhan Mamdani decides to do, should he win election this fall.
Anyway, back to Congressional spending. Or “un-spending.”
The House passed the original version of the bill in June, 216-214. Flip one vote and the bill would have failed on a 215-215 tie. Then it was on to the Senate. Republicans had to summon Vice President Vance to Capitol Hill to break a logjam on two procedural votes to send the spending cancellation bill to the floor and actually launch debate. Republicans…
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