The Swamp = Everyone in Washington - Republican and Democrat. Absolute power corrupts absolutely. What does The Swamp do best? Give other peoples money away. And Senate/Congress are giving lots and lots of money away for things that have nothing to do with the virus. The whole process and outcome of the stimulus package was disgusting. At the heart of all of this is the US is just Too Big. We use to need big countries for defense but that concept has overcoming its usefulness. We need to think about smaller units of people who share the same interests. Congress at its best - getting its hands on money to spend. Nothing like a crisis to make it so easy. Have you noticed that People aren't sick - they are INFECTED. 1. There are ranges of being sick from severe to mild. 2. Can anyone who is sick make someone else sick? 3. How many virus cells does it take to make another sick? 4. Need to break down deaths by age and pre existing condition. We are freaking out on numbers that are not well defined. About 1/2 of the spending in the bill is for things that have very, very, little to do with the Coronavirus. An upsetting aspect for me is the additional $600 a week ($15 an hr) for those on unemployment. In effect raising the min wage to way over $15 an hr. Kick back and make $30 + dollars an hour. Lots of people will be trying to quit. When it comes time to coming back to work that is going to be interesting. I am all for unemployment benefits. Extend weeks. But not more than 100% of what you were making. This was another one I really liked The Coronavirus Aid, Relief and Economic Security Act (CARES Act) – which the House of Representatives is expected to vote on Friday – includes the funding for the African Development Fund (ADF), the African Development Bank (AfDB) and the International Development Association (IDA). TO BIG. WE NEED TO START CONSIDERING DIVIDING INTO GROUPS THAT SHARE COMMON INTERESTS. What makes this all worse is that the Congress is excessively giddy with glee and is talking about additional stimulus packages. Bye, bye, American Pie.
Comparing this to the TARP $787 billion bailout of 2008, I thought that was bogus because the fear tactic is the banks are going under. There were a few banks affected but, how many banks could easily buy those banks up and not affect the economy? I was totally against it and let my politicians know but, they voted for TARP just the same. Canada did not bailout a single bank and no Canadian bank went under. Instead, the TARP bailout went to CEO bonuses? Anyone remember that? Politicians inserted that in the TARP bailout so that, nobody got prosecuted over it. General Motors got a $60 billion bailout without having to pay it back. Also, took shares of the retiree bondholders who got $0.10 of every $1.00 of their monies with no interest whatsoever. Bondholders all got hosed big time. In contrast, this $2 trillion bailout of major industries like airlines, restaurants, small businesses, etc. is real. Millions of Americans lost jobs and businesses on the brink of going under. It is better to save those companies so that, those jobs are not lost. Those companies and their employees would be paying taxes as soon as they get back on their feet. If there pork in this bailout? Of course. You cannot really avoid it like the $25 million for the Kennedy Center and I am sure there are others. Politicians will do what suits them and their political patrons. That is the reality of it. The 2008 TARP bailout was more corrupt in my opinion although, this bailout is larger.
This was actually my favorite part. This money going to bottom workers who don't know how to save. This is the part of the stimulus that's really going to help. I do share your concerns a bit about people staying unemployed, but you can't just quit and collect unemployment. You have to be out of work through no fault of your own. But yes...$6T is going to cause some higher than expected inflation, but we've been living with inflation for the last 107 years. It's a part of life. Its just this time, we'll notice wages and prices going up 10-20% over the next 12 months instead of not noticing the 2-3% we normally have. Personally, I would've rather never shut down the country and just took the small hit of extra deaths, but the government decided to shut everything down. If the government says we have to cut off your leg to save you, I'm at least going to demand an ample supply of bandages, morphine and a state of the art bionic leg rather than giving the people a wooden peg, bandaid and some aspirin.
Ayn Rand, Stop Bullshitting around man. I think it's a terrific thing. Helping people who loss their jobs so they can stay home and protect their family and other people. Everybody not wealthy man. Have some sympathy for people with less man. Why do you care if someone is getting an extra $600 a month in unemployment benefits? That's not none of your business. Stop worry about what another man has in his pockets.
It is $600 a week extra. It is $15 an hour more. I am all for helping whoever needs help but you should not have a policy that pays you more than a 100% more than you were making when you were actually working. That much extra money is going to be like a Big Time Drug. Will be hard to get off of when it stops.
Oh well, it is what it is. I agree with our government giving people an extra $600 per week. The $2400 (600 times 4 weeks) can be used to : 1. Start an emergency fund for future issues. 2. Pay mortage or rent 3. Save the money incase their employer chooses to keep them not working for 6 to 12 months. Noone knows how long this recession will last. It is a win-win for people who had some hardships. It is win-win for everyone. Everyone will get some money. As I said before have some sympathy for other Americans. People will learn from this events and get better from it. Every bad event is a chance to get better.
we will all look back at this and realize how bad of an idea this whole thing was.. i promise you... private individuals should have savings for stuiff like this.. and businesses can buy disruption insurance... We are reaching the pinnicale of raiding public coffers .. no one things there are consequences to this kind of crap.. the one guy who stands up and says anything about it thomas massie, gets murdered almost... crazy times
Hello cdcaveman, What type of insurance can a business owner buys to protect them against lost of profits due to this event? For example let's say I owned an Event Space business. I rent out my space to clients who wants to have a gathering. Right now, Noone is booking my event space in fear of a virus. What do I do?