RFK Jr.’s blockchain budget | The hill

‘I’m going to post the whole thing US budget for blockchain so that every American – every American can view every budget line item in the entire budget whenever they want, 24 hours a day,” Kennedy said at a rally in Michigan on Sunday.

Such public disclosure of expenditures would theoretically increase transparency and accountability how the federal government spends taxpayer money.

But moving government transactions to the blockchain would be a solution Herculean task. There is also already some visibility into federal spending through the legislation that controls it, and government watchdogs like the Government Accountability Office and Inspectors General can audit departments.

“We have 300 million eyes on our budget, and if anyone spends money $16,000 for a toilet seatEveryone will know about it,” Kennedy said, referring to reports such as the infamous $640 per toilet seat the Pentagon paid in the 1980s.

Kennedy has cryptocurrencies embracedaccepting campaign donations in bitcoin and touting plans to back the US dollar with bitcoin if he is elected president.

But Kennedy has also said he opposes plans for one central bank digital currency (CBDC), as do many Republicans, including former President Trump.

While the Federal Reserve is currently “exploring” a CBDC, Fed Chairman said Jerome Powell said the central bank will not create one without a directive from Congress.

The Independent Firebrand has described itself as the only pro-crypto presidential candidate in a race dominated by the rematch between Trump and President Biden.

Kennedy is “strongly supportive of crypto,” according to an analysis by Stand With Crypto, a 501(c)(4) nonprofit founded by grassroots advocates and crypto exchange giant Coinbase, which “champions clear, common-sense regulations for the crypto industry.”

The advocacy group rates Trump as “supportive‘of crypto and Biden as’in return for‘, although the sitting president did issue a 2022 executive order calling for “the responsible development of payment innovations and digital assets” that will help the US maintain its leadership in global financial markets.

The Hill’s Taylor Giorno has more here.