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Old Yesterday, 10:31 AM
 
Location: Florida
63,748 posts, read 34,849,409 times
Reputation: 10637

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When did they amend the Constitution and surrender the purse-strings to the president? I do not recall such amendment.

$30 billion bail out already to cover the damage done by idiotic economic policy...... When will it end?


https://www.msn.com/en-us/money/mark...out/ar-AAH1UXa

Senior government officials, including some in the White House, privately expressed concern that the Trump administrationís nearly $30 billion bailout for farmers needed stronger legal backing, according to multiple people who participated in the planning.
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Old Yesterday, 10:40 AM
 
30,636 posts, read 47,849,003 times
Reputation: 16494
Is this part of the new budget they are going to float soon to avoid another shutdown?
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Old Yesterday, 11:05 AM
 
Location: Barrington
47,190 posts, read 34,627,778 times
Reputation: 15658
The Emergency Economic Stabilization Act was signed by Bush in 10/ 2008.

The Act was passed on a bipartisan basis.

Loans were repaid. Treasury actually made a few $$$.
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Old Yesterday, 11:18 AM
 
Location: Bellingham, WA
1,050 posts, read 1,162,796 times
Reputation: 1185
At last count, tariffs on Chinese goods have surpassed $65 billion in the same time period. Bailing out farmers with some of that money makes total sense and is right in line with the way China's government is subsidizing their own manufacturing. Next year farmers can plant crops that cater to other/domestic markets, and/or get some cows in those soybean fields and get some more beef on the market.
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Old Yesterday, 11:28 AM
 
5,305 posts, read 1,621,111 times
Reputation: 3087
Quote:
Originally Posted by rkcarguy View Post
At last count, tariffs on Chinese goods have surpassed $65 billion in the same time period. Bailing out farmers with some of that money makes total sense and is right in line with the way China's government is subsidizing their own manufacturing. Next year farmers can plant crops that cater to other/domestic markets, and/or get some cows in those soybean fields and get some more beef on the market.
Great, so American taxpayers are paying $65 billion over what they would have otherwise and farmers are getting a $30 billion bailout. Where is the hand-wringing over wealth redistribution from conservatives?
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Old Yesterday, 11:33 AM
 
33,179 posts, read 16,966,263 times
Reputation: 18038
Quote:
Originally Posted by Finn_Jarber View Post
When did they amend the Constitution and surrender the purse-strings to the president? I do not recall such amendment.
Not necessary. All you need is a Senate majority leader who thinks his job is to act as an extension of the White House.
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Old Yesterday, 11:50 AM
 
Location: Florida
63,748 posts, read 34,849,409 times
Reputation: 10637
Quote:
Originally Posted by middle-aged mom View Post
The Emergency Economic Stabilization Act was signed by Bush in 10/ 2008.

The Act was passed on a bipartisan basis.

Loans were repaid. Treasury actually made a few $$$.
No, it was not a blank check for the future presidents. It authorized a certain amount of money to buy troubled assets. As soon as it passed, Bush admin spent it on something else.
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Old Yesterday, 12:07 PM
 
Location: Metro Detroit, Michigan
12,961 posts, read 14,198,554 times
Reputation: 13738
Quote:
Originally Posted by TEPLimey View Post
Great, so American taxpayers are paying $65 billion over what they would have otherwise and farmers are getting a $30 billion bailout. Where is the hand-wringing over wealth redistribution from conservatives?

Tariffs have been used in the USA since 1789. They are as American as apple pie. We actually give a damn about our workers, and don't want to aspire to be more like the 3rd world. Don't like it, and don't care to pay your taxes, you are free to leave.

But I would be curious to know, if a tariff in the USA is a wealth transfer, than what do you call the 25% tariff that was being charged on all our autos going to China? I call it naked protectionism to give their manufacturing base an advantage in their own market. Nothing more, because USA automakers never sent that many autos to China. Instead, they were forced to build plants in China and transfer their technology over to the communist government and industry it works to support.
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Old Yesterday, 12:24 PM
 
5,305 posts, read 1,621,111 times
Reputation: 3087
Quote:
Originally Posted by andywire View Post
Tariffs have been used in the USA since 1789. They are as American as apple pie. We actually give a damn about our workers, and don't want to aspire to be more like the 3rd world. Don't like it, and don't care to pay your taxes, you are free to leave.

But I would be curious to know, if a tariff in the USA is a wealth transfer, than what do you call the 25% tariff that was being charged on all our autos going to China? I call it naked protectionism to give their manufacturing base an advantage in their own market. Nothing more, because USA automakers never sent that many autos to China. Instead, they were forced to build plants in China and transfer their technology over to the communist government and industry it works to support.
A tariff coupled with a bailout is a wealth transfer. Any tariffs levied by the Chinese government is a cost shouldered by the Chinese and has no economic impact on our tariffs or the farm bailout, so I don't know why you are bringing it up in this context.

If you had concerns about Chinese trade practices, maybe you should have voiced them in support of the TPP - a means to actually effectively address them - before we stupidly abandoned it.


So much for "conservatives".
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Old Yesterday, 12:58 PM
 
Location: Bellingham, WA
1,050 posts, read 1,162,796 times
Reputation: 1185
Quote:
Originally Posted by TEPLimey View Post
A tariff coupled with a bailout is a wealth transfer. Any tariffs levied by the Chinese government is a cost shouldered by the Chinese and has no economic impact on our tariffs or the farm bailout, so I don't know why you are bringing it up in this context.

If you had concerns about Chinese trade practices, maybe you should have voiced them in support of the TPP - a means to actually effectively address them - before we stupidly abandoned it.

So much for "conservatives".
What do you call the 13 TRILLION of trade deficit with China that has amassed over the last ~13 years? More-so that China's government owns the land and the buildings and uses that surplus trade money to build their manufacturing base to further accelerate the imbalance. That's a "wealth transfer" if there ever was one, the making of the monopolization of the worlds manufacturing, and eventually the last stop for most of the worlds money and power if things don't change.
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