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Here's the deal....
For good or bad this whole hot mess is playing out during a presidential election year, with a good part of senate and all of House up for re-election as well. Each side needs to get out ahead of this but things are difficult because epidemics have minds of their own.
What is clear however is that a federal government already up to its neck in debt, now is digging a deeper hole. This has not escaped a fraction of GOP who now have gotten religion and worry about US debt. It didn't bother them previously when GOP passed DT's tax "cut" *ahem* reform. Nor did it when DT was shoveling out huge sums for everything from military spending to that GD pet project of his (border wall), but *now* they are worried.
Debt is a weird thing, though. While it's true that the US has a 'lot' of debt, it's an incredibly nebulous concept. For example, the United States and its citizens own roughly 75% of the national debt- with the Federal Reserve owning like 7 trillion dollars of it. Staying current to individual borrowers, other countries, and banks/pension funds are of the utmost importance, and completely manageable, payment-wise.
The true 'outstanding' national debt (owed to banks, pension funds, etc) is something like 15 trillion, which isn't nearly as bad as $23T. Can the Fed cancel debt that it hypothetically owes itself, via the Treasury? Absolutely. It won't, but it also can basically roll over the interest payments to the treasury (hypothetically, again) forever. It's one big jedi-bookkeeping fiasco.
I think that since this is an election year, we're going to hear the republicans tow the line until around the end of July, and as **** is hitting the fan again, they're going to be onboard with more stimulus because people are going to be absolutely hurting.
A second round of coronavirus stimulus checks, including payments for dependent college students, may be in store for millions of Americans in the fourth COVID-19 pandemic relief package in the works on Capitol Hill.
U.S. Rep. Richard Neal, in an editorial board meeting with The Republican and MassLive Thursday, said lawmakers had proposed direct payments similar to the ones that have already rolled out to millions of Americans this spring as part of the $2.2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act.
There has been lots of speculations going-on about the Phase IV relief bill. Most likely the fourth bill will be targeted to State funding and liability protection. I am not yet counting on either a second stimulus or a 2K/month or FPUC extension...
There has been lots of speculations going-on about the Phase IV relief bill. Most likely the fourth bill will be targeted to State funding and liability protection. I am not yet counting on either a second stimulus or a 2K/month or FPUC extension...
Keep your eyes on the states that are reopening. If we have a 2nd wave (as almost all experts that are instantly being squelched say we will) there's going to be a 2nd stimulus/extension for sure, but at that point that will probably be the least of our worries...
Keep your eyes on the states that are reopening. If we have a 2nd wave (as almost all experts that are instantly being squelched say we will) there's going to be a 2nd stimulus/extension for sure, but at that point that will probably be the least of our worries...
They just won't test in those states that are reopening so they can make it look like there is no second wave
A lack of a 2nd stimulus will effect some when time for re elecetion comes.
Quote:
Originally Posted by lancers
Didn't take long for the public to get used to staying at home with their hands out did it?
Vote blue for the free stuff they said. I wonder how many of these people accepted their stimulus check from "not my president." It's comical really... especially considering the states with the highest death counts who want to remain locked down are all blue.
2nd wave? OK... these are the people that are rooting for it so they can live the rest of their lives in their living room hiding behind that wall of toilet paper waiting for the $2k a month handout. Pathetic really... rooting for the virus... but they are.
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