President Trump appears to be vetoing the massive $900 billion coronavirus stimulus bill passed by Congress yesterday, slamming it for being full of “wasteful and unnecessary” items.

“Throughout the summer, Democrats cruelly blocked COVID relief legislation in an effort to advance their extreme left wing agenda and influence the election,” Trump announced.

He added that “it’s taken forever” to get a bill together, and now it “is much different than anticipated.”

“It really is a disgrace,” the President urged, demanding that Americans have stimulus checks upped to $2,000, while all manner of pork, including mountains of foreign aid, be stripped out of the legislation.

“Send me a suitable bill or else the next administration will have to deliver a COVID relief package and maybe that administration will be me and we will get it done,” Trump raged.

Watch:

Before the bill passed the Senate Tuesday, Senator Rand Paul, one of only six Republicans who voted against the legislation, slammed it as an ‘excessive’ waste of money, and said that all Republicans voting for it are no better than the ‘socialist’ Democrats they routinely criticise.

“When you vote to pass out free money, you lose your soul and you abandon forever any semblance of moral or fiscal integrity,” Paul urged.

Paul also noted that it would have been impossible for anyone to have read the bill:

Senator Ted Cruz also noted this, agreeing with Democrat Rep. Alexandria Ocasio-Cortez:

The difference, however, is that Paul and Cruz voted against the bill, where as AOC just voted in favor anyway.

The bill passed the House 359-53 and the Senate 92-6, but now it appears Trump will send it back.

In another stunning act of resistance, Joe Biden has hired two former Goldman Sachs officials to his transition team, prompting more charges that he’s filling up the D.C. swamp again.

Politico reports that Biden has hired Eric Goldstein and Monica Maher to the Department of Homeland Security Review Team, and the National Security Council Review Team, respectively.

Goldstein is currently employed as Chief Risk Officer for Antares Capital, but worked 18 years as managing director in the Merchant Banking Division of Goldman. 

Maher is still Vice President of Cyber Threat Intelligence at Goldman.

The hires clearly show that Biden has zero intention of keeping Wall Street out of government.

Biden already hired former Obama economic adviser Brian Deese, who previously worked for BlackRock, to head the National Economic council.

In addition, Biden has hired Adewale “Wally” Adeyemo, a former senior adviser for BlackRock, for the Treasury department.

These hires show without doubt that Biden’s previous promise to ‘crack down’ on Wall Street was horse shit of the purest grade, although anyone with half a brain always knew that was the case.

Indeed, Wall Street is apparently “very delighted” with Biden’s hires.

“Everybody I’ve talked to, including people on Wall Street, seem very delighted with the selections,” said Bruce Heyman, a former partner at Goldman Sachs Group Inc. “Nobody has said to me that this is really disappointing. In fact, it’s the opposite. They’ve just said, ‘This is great.’”

Biden’s hires in other areas have also been heavily criticised as he’s chosen a rogues gallery of globalist interventionists, and extreme leftist radicals.

If Joe Biden were to be elected his Presidency would cost American taxpayers $11 trillion dollars, according to a study by The Manhattan Institute for Policy Research.

The conservative 501 found that Biden’s proposals on social security, health care, climate and infrastructure could plunge the US into a debt crisis.

Speaking to the Daily Caller, author of the report Brian Riedl noted that “The policies he’s proposing are going to endanger the economy over the long term,” adding “$4 trillion in new taxes, which is the biggest tax increase since the end of World War II, as well as $11 trillion in new spending, certainly more regulation, a higher minimum wage. All of that is going to weaken the economy.”

For those interested, I've released the new 2020 version of my budget chartbook.

100 pages of charts that defy conventional wisdom on budget, spending, tax, and deficits. You can download the chartbook here – https://t.co/rKZ20fxvuk

— Brian Riedl 🧀 (@Brian_Riedl) October 27, 2020

Biden has proposed $2.4 trillion in coronavirus stimulus spending, as well as $2 trillion for climate and infrastructure, and a $1.5 trillion health care expansion. It is estimated that education spending will amount to $750 billion under Biden, which includes a free college plan.

Biden has offered little in the way of explaining how the costs will be covered, other than tax hikes, which he claims will be targeted at large corporations.

The problem is beginning with a $13 trillion baseline deficit over the decade, adding $11 trillion in new spending promises, and then hoping a $3.5 trillion tax increase on the rich will make the numbers work. Eventually, big middle-class benefits require big middle class taxes. https://t.co/G6AmsbfytG

— Brian Riedl 🧀 (@Brian_Riedl) October 5, 2020

Bets are in, and the odds look heavily in Trump’s favor and it’s because the betting tables have all the right data.

The numbers were crunched using figures from Biden’s campaign website, the Committee for a Responsible Federal Budget and the Congressional Budget Office.

“It’s absolutely unsustainable,” Riedl noted adding that “The danger is that eventually the interest costs will bury us. When you borrow that much money, all it takes is a small increase in interest rates to completely bury the federal budget.”

“Ultimately, we’re going to face a reckoning that requires either significant reforms to programs like Social Security and Medicare, or a possible doubling of middle class taxes,” Riedl warned, declaring that “There’s really no third option.”

“The worst case scenario is that politicians continue to pour gasoline on the fire by enacting even more spending, which just accelerates a debt crisis,” Riedl urged.

Under President Trump, the deficit has remained under $1 trillion each year. However, it is projected to jump to almost 4 times that this year due to coronavirus spending.