Corona Stimulus Thread

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Icarus
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Corona Stimulus Thread

Post by Icarus »

So far no details, but it will be interesting the total amount and how they plan to allocate it. The only certainty so far is $50 billion for the airlines and the house pitched something "more than $750 billion" the White House said "$850 billion" and Steve Mnuchin said it would need to be at least "$1 trillion on top of the $300 billion in tax deferments." Romney pitched giving $1,000 to every American household which would be roughly $128 billion unless he meant $1,000 to every adult in every household, which would make that jump considerably.

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Analytics
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Re: Corona Stimulus Thread

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I'm struggling to understand what Republicans are thinking about this--both the leaders and the followers.

Are they doing this because they think massive deficit spending is the right thing to do? Or are they doing it because they think it will help them win in November? In other words, would they behave differently if it wasn't an election year?

From the way they resisted all stimulus spending during the great recession (and then blamed Obama for the recession dragging out), we can be sure they'd be adamantly against any of these ideas if they came from a Democratic regime. Does their current attitude towards uncontrolled deficit spending in emergencies indicate that they've come to see the light about Keynesian economics? Or have they always understood economics, but simply think their own political power is more important than the good of the country?

Or are they playing a long game and just trying to bankrupt the federal government ASAP so that they can finally be able to cut Medicare and Social Security?
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Icarus
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Re: Corona Stimulus Thread

Post by Icarus »

Senate passes the House Bill but no details yet. Wonder why?

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Doctor CamNC4Me
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Re: Corona Stimulus Thread

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As a Democrat I oppose this not because Republicans something something, but because tacking on trillions to our national debt is horrifying to me. Kinda wish since Bush2 our federal government had been smarter with the deficits so when something like this rolled around it’d make sense rather than turn my stomach. The rapid devaluation of the dollar is now inevitable?

- Doc
In the face of madness, rationality has no power - Xiao Wang, US historiographer, 2287 AD.

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Re: Corona Stimulus Thread

Post by Icarus »

Doctor CamNC4Me wrote:As a Democrat I oppose this not because Republicans something something, but because tacking on trillions to our national debt is horrifying to me. Kinda wish since Bush2 our federal government had been smarter with the deficits so when something like this rolled around it’d make sense rather than turn my stomach. The rapid devaluation of the dollar is now inevitable?

- Doc


They're banking on the American people blaming it all on the virus, so they're acting like they have carte blanche to spend whatever they want now.

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Gadianton
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Re: Corona Stimulus Thread

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Analytics wrote:I'm struggling to understand what Republicans are thinking about this--both the leaders and the followers.

Are they doing this because they think massive deficit spending is the right thing to do? Or are they doing it because they think it will help them win in November? In other words, would they behave differently if it wasn't an election year?

From the way they resisted all stimulus spending during the great recession (and then blamed Obama for the recession dragging out), we can be sure they'd be adamantly against any of these ideas if they came from a Democratic regime. Does their current attitude towards uncontrolled deficit spending in emergencies indicate that they've come to see the light about Keynesian economics? Or have they always understood economics, but simply think their own political power is more important than the good of the country?

Or are they playing a long game and just trying to bankrupt the federal government ASAP so that they can finally be able to cut Medicare and Social Security?


'stimulus' spending in this case makes absolutely no sense to me. people raiding stores are doing the equivalent of "digging holes and filling them" under the theory of reversing the effects of thrift; but thrift isn't a problem that needs reversing here (it's actually what *should* be are problem). what does make sense (and I mean, makes sense in theory, but we don't know yet about the real numbers) are bail-outs or lending if there's good reason to believe keeping an industry afloat for a few weeks (under extreme optimism) will cost less than the entire train wreck coming back to life.
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moksha
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Re: Corona Stimulus Thread

Post by moksha »

One thing you can count on is that the poorest of the poor will not see any of this stimulus money. That should help sell the idea to Republicans.
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subgenius
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Re: Corona Stimulus Thread

Post by subgenius »

Funny how the hair fire has avoided noting the Democratic stimulus proposal...ya know? the one with $4500 checks, and up to $18k for a family of 4.

Senate Democrats' coronavirus bailout plan could give each American $4,500

https://flip.it/yKmT1H

but that's kewl...#TDS
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Re: Corona Stimulus Thread

Post by Icarus »

subgenius wrote:Funny how the hair fire has avoided noting the Democratic stimulus proposal...ya know? the one with $4500 checks, and up to $18k for a family of 4.

Senate Democrats' coronavirus bailout plan could give each American $4,500

https://flip.it/yKmT1H

but that's kewl...#TDS


We don't know the details of any proposals yet but I did hear Mitch McConnell say he intends to go well above and beyond what the House Democrats had passed.

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Some Schmo
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Re: Corona Stimulus Thread

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So now the GOP has gone full communist. The red symbolizing the GOP means something else today. ____' commie bastards.

I can't wait till someone whines about Democratic Socialism.
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MissTish
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Re: Corona Stimulus Thread

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I saw an idiot trying to twist this yesterday. The argument was along the lines of "this is capitalist in nature, and it can only work properly in a capitalist society. "

My eyes rolled so hard they almost got stuck.
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Doctor CamNC4Me
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Re: Corona Stimulus Thread

Post by Doctor CamNC4Me »

Some Schmo wrote:So now the GOP has gone full communist. The red symbolizing the GOP means something else today. ____' commie bastards.

I can't wait till someone whines about Democratic Socialism.


I was telling my wife last night that I never want to hear a GOP type utter anything about socialism again. There's nothing about that party that makes any sense.

- Doc
In the face of madness, rationality has no power - Xiao Wang, US historiographer, 2287 AD.

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canpakes
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Re: Corona Stimulus Thread

Post by canpakes »

Doctor CamNC4Me wrote:
Some Schmo wrote:So now the GOP has gone full communist. The red symbolizing the GOP means something else today. ____' commie bastards.

I can't wait till someone whines about Democratic Socialism.


I was telling my wife last night that I never want to hear a GOP type utter anything about socialism again. There's nothing about that party that makes any sense.

- Doc

I’d say that their naked self-interest and desire to satisfy their egotistical needs are merely extensions of early hominid evolutionary development (“looking out for #1” as a survival strategy), but then this is the same crowd that believes evolution is a fraud. So, yeah - you’re right.
Last edited by canpakes on Thu Mar 19, 2020 9:07 am, edited 1 time in total.

Icarus
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Re: Corona Stimulus Thread

Post by Icarus »

Well EAllusion made a good point on the other thread that technically this is quite different from 2009 in that the government is flat out ordering businesses to close shop. I can see why the government would be obligated to compensate them for lost business.

But at the same time I can't help but wonder if this is just a formality as these same businesses are likely to go out of business anyway because of the coronavirus fears. The mandatory shutdowns aren't for all businesses and they are only in a handful of areas across the country.

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Re: Corona Stimulus Thread

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Click "Disable BBCode" "Disable smiles"" "Do not automatically parse URLs" for a new post.
Last edited by DoubtingThomas on Wed Mar 25, 2020 10:28 pm, edited 1 time in total.

Icarus
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Re: Corona Stimulus Thread

Post by Icarus »

What the F is going on?

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Re: Corona Stimulus Thread

Post by DoubtingThomas »

[quote="Icarus"]What the F is going on?[/quote]

Don't know. I guess Jesus is mad at us.

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Re: Corona Stimulus Thread

Post by Icarus »

Looks like the stimulus of $2.2 trillion is about to pass.

https://www.marketwatch.com/story/what-the-2-trillion-stimulus-will-mean-to-you-2020-03-25?mod=home-page

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