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Tough choices. In many countries people sleep on the medians of highways. They fall off, get hit by cars and are killed. Many countries have virtually no health care, or the people must pay or barter for the simplest (and necessary surgeries). An infected tooth can kill ya. A stroke will leave you helpless.
The goal of he democrats is to reduce us all to that level and the "stimulus" says "look away from what we are actually doing". Thousands of ill people pouring into the southern states, targeting strikes in Iraq preparing for war, millions for planned parenthood and not a thing for the police.
The big picture. They want us to drown into the chaos and misery of a 3rd world nation while they stand at the top of the pile. So take the stimulus, put it towards your mortgage, or your weapons and watch....
Tough choices. In many countries people sleep on the medians of highways. They fall off, get hit by cars and are killed. Many countries have virtually no health care, or the people must pay or barter for the simplest (and necessary surgeries). An infected tooth can kill ya. A stroke will leave you helpless.
The goal of he democrats is to reduce us all to that level and the "stimulus" says "look away from what we are actually doing". Thousands of ill people pouring into the southern states, targeting strikes in Iraq preparing for war, millions for planned parenthood and not a thing for the police.
The big picture. They want us to drown into the chaos and misery of a 3rd world nation while they stand at the top of the pile. So take the stimulus, put it towards your mortgage, or your weapons and watch....
Doom and gloom. Geeez. What would cheer you up? Let me guess. Trump checks?
I'm completely on board with spending our way out of a true crisis. However the stimulus bill has far too much pork in it and was poorly thought out - and has little to do with the CV-19 "crisis". For example, a friend of mine's parents are retired. They're collecting multiple government pensions, own a $1M home outright, and haven't been employed in over 15 years. They bring in more from pensions and SS, not to mention other investments, every year than most people will earn in in 3 years. Guess who got a stimulus check? Biden's stimulus debacle was nothing more than blatant vote buying. Democrats counted on people being too damn stupid to understand the long term economic ramifications of this nonsense. And they were right, people are too damn stupid. Speaking of which, I'm sure, given how outspoken you are about spending government money, have your portion ($13,000) of the cost of the stimulus package ready to go in the form of a check to the government? Yeah, I didn't think so.
your partisanship is showing.
If they got a check under biden, they got one under trump as well.
Just like with $4T of post 2008 QE's this stimulus will have little negative repercussions. For several reasons.
In both cases unemployment high and demands were low, so stimulus in general improves general commerce while doing little to incite inflation.
And second, and very important, and seemingly not generally known or appreciated, the QE's and these more current stimuli are moneys created out of thin air by the Fed and then exchanged for the debt. These are not taxpayer funded programs. And when the Fed owns our federal debt, the interest the Treasury pays out to the Fed is returned to the Treasury by the year end. And as long as the Fed keeps the debt on its books, even the principal is of little concern.
Large and ominous feeling national debt numbers are more of an illusion if the bulk of the new debt is Fed owned. And yes we are bound to see a bit more of inflation coming out of the Covid crisis.
so you're saying we can keep repeating this without repercussions?
lets get that printing press going on full steam!
Of course the $1,400 payments will boost the economy. Ask yourself the question: is the economy being held back by a shortage of capital or by a shortage of aggregate demand? It's the latter, of course. We are swimming in large excesses of capital (world savings glut, near zero interest rates); OTOH, wages have been mostly flat and have not kept up with productivity increases.
In an economy that's restrained by a shortage of aggregate demand due to low wages, there is a large pool of latent demand: people want to buy things but lack sufficient discretionary income to buy. So among the lower wage cohorts that $1,400 will get spent and spent quickly.
$1.9T is about 8% of current GDP. Since a good deal of that $1.9T will work itself back through the economy in spending and consumption, one can expect to see some upward bumps in GDP YoY growth numbers.
Nations can create currency out of thin air, consumers cannot.* National debt doesn't matter until it does. Japan's debt-to-GDP ratio is about 230%, they haven't defaulted; but at similar levels Greece did. The U.S. is at roughly half that amount. So no cause for alarm at this time.
uhh, what? if we're swimming in anything, it's debt.
Funny how nobody says a word about all the billions and billions defense , war and the military costs but God forbid the American people get a few grand of their own money back. Geeez.
I've complaint countless times about our "defense" budget. I do rather spend it on infrastructure and in this instance, extending unemployment checks rather than giving money to everyone under a certain income.
but the MIC owns the govt so there isn't really anything we can do to stop it. there is too much money to be made in waging wars and selling "defense" weaponry.
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