An article in the New York Times published February 13 states that “For recipients, it’s a lifeline. For liberal supporters, it shows how expanding government can make a difference. For conservatives, it’s a return to wasteful welfare handouts.”
“Chicago and the surrounding suburbs of Cook County are conducting the largest experiment of its kind in the nation, an effort to supply thousands of residents with a basic level of subsistence, not in the form of food, housing or child care — just cash. Ms. Lightfoot’s $31.5 million Resilient Communities Pilot selected 5,000 city residents in August to receive a guaranteed cash income for a year. The first $500 checks from a separate program, a $42 million county pilot, went out in December to 3,250 residents concentrated in the near-in Chicago suburbs.”
Read the full article here.
Great idea. Take from the shrinking productive, competent sector and give to the rising nonproductive, incompetents and gain their votes. Ingenious…Until there are not enough productives remaining. But no worries. Money is created out of thin air by the Fed and they will continue printing until, well that remains to be seen.