“Helicopter Money”
“American Rescue Plan Act of 2021 – Impact on Central Iowa
Wednesday, April 14, at 4:30 PM
In 1969, Milton Friedman wrote: “Let us suppose now that one day a helicopter flies over this community and drops an additional $1,000 in bills from the sky, which is, of course, hastily collected by members of the community.” The phrase was reincarnated in 2002 when , Ben Bernanke said that “A money-financed tax cut is essentially equivalent to Milton Friedman’s famous ‘helicopter drop’ of money.”
The “American Rescue Plan Act of 2021” has essentially dropped $1.88 trillion on us and our communities.
For example, it appears that the helicopter is going to drop an estimated $95,060,000 on Polk County, $94,550,000 on Des Moines, and $9,340,000 on Ankeny.
Topics to be considered:
- How much is $1.88 Trillion?
- An overview of the Act
- How can counties, cities, and schools use the money?
- Things on which the money can NOT be used.
- Funding for mental health, transportation, etc.
- Dialog
Panelist: to be announced
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