How out of touch and clueless can one be? https://www.politico.com/story/2019/01/24/ross-government-shutdown-food-banks-1122842
Ross is quite correct in his assertions. The credit union associated with the federal employee union has made short term loans available to all federal workers that are not being paid. They will have to repay the loan with interest when they are paid by the federal government. This is a much wiser financial option than going to the food bank or not paying your bills. ----------------------------------- Speaking on CNBC, Ross argued the roughly 800,000 unpaid federal workers can take out loans to cover their bills as they're poised to miss another paycheck this week. The billionaire investor also emphasized that they'll eventually get back pay and that the overall economic impact won't be severe, becoming the latest Trump official to minimize the toll of the longest shutdown in U.S. history. "These are basically government-guaranteed loans because the government has committed, these folks will get back pay once this whole thing gets settled down," Ross said. "So there is really not a good excuse why there really should be a liquidity crisis now." "Now true, the people might have to pay a little bit of interest, but the idea that it's paycheck or zero is not a really valid idea," he continued. Federal employees have reported going to homeless shelters to find food for their families, but when asked on Thursday about the desperate measures, Ross replied: "Well, I know they are, and I don't really quite understand why." Ross argued with loans backed by the guaranteed back pay, federal workers should be able to find the money to carry them through the shutdown.
So let's take a rational look at Ross's statement -- which part of it is factually incorrect? The statement by Ross nearly matches the guidance given by the federal employee union to to the unpaid workers. Why is it when the union says it ... it is genius, but when Ross says the same thing he is clueless?
it's just plain stupid. if you are living paycheck to paycheck which many of the folks in this situation are, taking over more financial burden is a recipe for future problems and more hardships. they are not getting paid cause, a bunch of assholes decided to do a "dick measuring contest". taking a loan with even a small interest is just stupid and suggesting that makes you an insensitive outta touch asshole. PS. The union is there to help them and is not the root of the problem whereas Wilbur Ross is a part of the entity that caused the shutdown.
Hell, PayPal is offering 500 bucks with no interest at all for federal workers.https://www.cnbc.com/2019/01/23/why...ers-loans-during-the-government-shutdown.html I must say, people with jobs being forced to work for no pay and then having to borrow money to eat is bullshit. Every single one of these people should walk off the job, NOW. Fire them and I'd fully support as violent a protest as they could muster. Burn the mother fucking place to the god damn ground.
We can each have our own opinions on Ross's statement. The union directing employees to a financial institution where the union probably gets a kick-back for each loan originated via the union.... well that conflict of interest is ignored because the union "is there to help them". If the union was there to help them then the union would provide zero interest loans directly or provide partial pay.... like most other unions do when the employees are not being paid. But not the federal employee union which collects $250 million plus a year in dues.... they won't lift a finger to help the union members.
%% I told my congressman Mr Ross should have disclosed all his steel business buddys; his steel tariff ideas are nonsense, unless one like stupid Senator Smoot Hawley LOL Maybe something good will come out of it; since even the US gov defines so many of them as ''unnecessary'' Partial disclosure; i dont buy apples 'cause a gov seal {USDA}of approval is on them- capitalism has a lot of safeguards built in.
https://elitetrader.com/et/threads/trump-needs-to-fund-the-tsa-asap.328987/page-3#post-4795361 GWB....I'm sure a very large percentage of the 800K federal employees not getting paid are not members of that Credit Union. Besides.. what if people have lousy credit? Do they get these "tide me over" loans too? I'm gonna say no. Its not that easy. I can imagine the red tape and bs associated with trying to get one. Bottom line... Ross's statement was deplorable. In a big way. He's a fuckin senile billionaire and Constitutionman is spot on... Ross is clueless. I guess some of you people have never been poor.
%% Because Mr Ross is a republican ?? Its also a shame they spend like drunks +so many in gov do that =34 days with out a check is a crisis.