Skip to main content
Politics

RFK Jr. wants to put full government budget on blockchain for accountability

Apr 23

Share

Media Landscape

See who else is reporting on this story and which side of the political spectrum they lean. To read other sources, click on the plus signs below.

Learn more about this data

Left 0%

Center 100%

Right 0%

Bias Distribution Powered by Ground News

Robert F. Kennedy Jr., an independent presidential candidate, emphasized his proposal to use blockchain technology to manage the U.S. budget during a campaign stop in Michigan on Sunday, April 21. Kennedy wants to make federal spending transparent by allowing Americans to monitor government expenditures on items like toilet seats.

QR code for SAN app download

Download the SAN app today to stay up-to-date with Unbiased. Straight Facts™.

Point phone camera here

“We’re gonna have 300 million eyeballs on our budget, and if somebody is spending $16,000 for a toilet seat, everybody’s gonna know about it,” Kennedy said.

“I’m gonna put the entire U.S. budget on blockchain so that every American can look at every budget item in the entire budget, anytime they want, 24 hours a day,” he said.

Blockchain technology — essential for cryptocurrencies and secure digital transactions — provides a transparent, tamper-proof and permanently unalterable record of data stored in blocks linked by cryptography. These decentralized systems are not controlled by any single entity, increasing their transparency and resistance to manipulation.

RFK Jr. used historical government overpayments, like the $16,000 toilet seats, to demonstrate how blockchain could improve government spending transparency.

He continues to advocate for cryptocurrency technology to strengthen the U.S. economy, including specific policies to back the dollar with Bitcoin reserves and exempt Bitcoin profits from capital gains taxes.

“My administration’s mission of making America the global hub of cryptocurrencies, particularly Bitcoin, as a means of incentivizing greater investment in green and renewable energy production and attracting engineering, investment and innovation to our country,” Kennedy said in 2023. “I will clarify some kind of sensible jurisdiction in governance that Bitcoin is not a security and should not be regulated as one.”

Kennedy is building momentum in his presidential campaign, having secured a spot on Michigan’s ballot — the second state after Utah to do so. His campaign and supporters say they have collected enough signatures in crucial states like Arizona, Georgia, Nevada and North Carolina, pending official validation.

Tags: , , , ,

[ROBERT F. KENNEDY JR.]

“We’re gonna have 300 million eyeballs on our budget, and if somebody is spending $16,000 for a toilet seat, everybody’s gonna know about it.”

[LAUREN TAYLOR]

INDEPENDENT PRESIDENTIAL CANDIDATE ROBERT F. KENNEDY JR. WANTS YOU TO KNOW HOW MUCH THE GOVERNMENT IS SPENDING ON TOILET SEATS. 

DURING A CAMPAIGN STOP IN MICHIGAN ON SUNDAY — RFK JR PROPOSED USING BLOCKCHAIN TECHNOLOGY TO MANAGE THE U.S. BUDGET

[ROBERT F. KENNEDY JR.]

“I’m gonna put the entire US budget on blockchain so that every American can look at every budget item in the entire budget, anytime they want, 24 hours a day.”

[LAUREN TAYLOR]

BLOCKCHAIN TECHNOLOGY IS AN IMMUTABLE LEDGER, CRUCIAL FOR CRYPTOCURRENCIES AND SECURE DIGITAL TRANSACTIONS. DATA IS STORED IN BLOCKS LINKED BY CRYPTOGRAPHY, ENSURING THAT ONCE ADDED, INFORMATION IS TRANSPARENT, TAMPER-PROOF, AND PERMANENTLY UNALTERABLE.

BLOCKCHAINS ARE DECENTRALIZED, MEANING THEY ARE MAINTAINED BY MULTIPLE PARTICIPANTS ACROSS DIFFERENT LOCATIONS, NOT OWNED BY A SINGLE ENTITY. THIS CHARACTERISTIC MAKES THEM TRANSPARENT AND RESISTANT TO CONTROL OR INTERFERENCE BY ANY ONE PARTY.

LET’S HEAR FROM ONE OF ITS CO-INVENTORS TO EXPLAIN IT FURTHER.

[STUART HABER]

“If I promise to send you 17 Bitcoin you can’t turn that promise into a promise for 1,700 Bitcoin or 17 Bitcoin cents.”

[LAUREN TAYLOR]

KENNEDY POINTED TO HISTORICAL OVERPAYMENTS, LIKE THE TOILET SEATS, TO ILLUSTRATE HOW BLOCKCHAIN TECHNOLOGY COULD ENHANCE TRANSPARENCY IN GOVERNMENT SPENDING. 

HOWEVER THE CHALLENGE LIES IN THE COMPLEXITY OF RECORDING EVERY GOVERNMENT TRANSACTION ON THE BLOCKCHAIN, GIVEN THE FEDERAL BUDGET OF APPROXIMATELY 3.8 TRILLION DOLLARS.

THE GOVERNMENT ACCOUNTABILITY OFFICE HAS RAISED CONCERNS THAT WHILE BLOCKCHAIN TECHNOLOGY CAN INCREASE TRANSPARENCY, IT ALSO CARRIES SIGNIFICANT RISKS, SUCH AS VOLATILITY AND FRAUD.

KENNEDY CONTINUES TO ADVOCATE FOR CRYPTOCURRENCY TECHNOLOGY AS A TOOL TO BOLSTER THE U.S. ECONOMY — LAST YEAR HE OUTLINED SPECIFIC BITCOIN-FOCUSED POLICIES HE WOULD ENACT AS PRESIDENT INCLUDING BACKING THE DOLLAR WITH BITCOIN RESERVES AND MAKING BITCOIN PROFITS EXEMPT FROM CAPITAL GAINS TAXES.

[ROBERT F. KENNEDY JR.]

“My administration’s mission of making America the global hub of cryptocurrencies, particularly Bitcoin, as a means of incentivizing greater investment in green and renewable energy production and attracting engineering, investment and  innovation to our country. I will clarify some kind of sensible jurisdiction in governance that Bitcoin is not a security and should not be regulated as one.”

[LAUREN TAYLOR]

KENNEDY IS GAINING MOMENTUM, SECURING A SPOT ON MICHIGAN’S BALLOT—MAKING IT THE SECOND STATE AFTER UTAH TO LIST HIM AS A PRESIDENTIAL CANDIDATE. HIS CAMPAIGN AND SUPPORTERS CLAIM THEY’VE GATHERED ENOUGH SIGNATURES IN KEY STATES LIKE ARIZONA, GEORGIA, NEVADA, AND NORTH CAROLINA, THOUGH THESE ARE STILL AWAITING OFFICIAL VALIDATION.