Robert F. Kennedy Jr. Proposes Putting Entire U.S. Budget on Blockchain for Transparency
Independent presidential candidate Robert F. Kennedy Jr. has unveiled an ambitious plan to introduce blockchain technology to the U.S. budget, aiming to enhance transparency in government spending.
Kennedy announced his proposal during a rally in Michigan, stating his intention to leverage blockchain, typically associated with cryptocurrencies like bitcoin, to offer real-time public access to every budget item.
“We’re gonna put the entire U.S. budget on blockchain so that any American — every American can look at every budget item in the entire budget anytime they want 24 hours a day,” Kennedy declared.
The proposal seeks to allow citizens unprecedented insight into government expenditures, theoretically curbing financial mismanagement and fostering greater accountability.
Kennedy emphasized the potential for citizens to scrutinize spending habits, citing historical instances like the infamous $640 Pentagon toilet seat and $10,000 toilet seat cover scandals.
RFK Jr. at Michigan rally: “I’m gonna put the entire US budget on blockchain”
— Holden Culotta (@Holden_Culotta) April 22, 2024
“Every American can look at every budget item in the entire budget, anytime they want, 24 hours a day.”
“We’re gonna have 300 million eyeballs on our budget, and if somebody is spending $16,000 for a… pic.twitter.com/aqJ1JNUpxc
While Kennedy has embraced digital assets, including accepting campaign donations in bitcoin, he remains skeptical of central bank digital currencies (CBDC). He joins many Republicans, including former President Trump, in opposing CBDC plans.
Federal Reserve Chair Jerome Powell has clarified that the central bank will not pursue a CBDC without legislative authorization from Congress.
Kennedy, positioning himself as the pro-cryptocurrency candidate in the presidential race, contrasts with his opponents’ stances on digital assets.
A nonprofit advocacy group, Stand With Crypto, rates Kennedy as “strongly supportive of crypto”, in contrast to Biden’s “against” rating and Trump’s “supportive” rating.
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