Thursday, March 26, 2020

Glaring Holes In The Two Trillion Bill Coming Out Of Capitol Hill

  1. The check going out to everyone needs to be immediate. It can not be delivered three months from now. The majority of people in the US live paycheck to paycheck.
  2. This can not be a one-time payment. The payment has to be every month until the lockdown is no longer necessary. Or even a few months after that, considering job losses are widespread. Numerous businesses thought it prudent to push their workers onto unemployment benefits.
  3. I am not opposed to bailing out the airline industry. But that can wait a few months. No matter how many tens of billions you pump into that industry, no one is flying now. But it is good that the government is seeking equity for the money.
  4. The magic trillion that magically appears to give trillion-dollar zero-interest loans to banks is free money. And if it is not free, give the same to ordinary people. Give everyone a zero-interest $10,000 loan. Also, no matter how much money you pump, people are not going back to work for several more weeks.
  5. The biggest whole is it is missing the international dimension. No matter how much you pump the American economy, if the rest of the world stays out, this economy will not rise up again. If America can dole out two trillion to America, it should be able to dole out at least 20 billion to the world's poorest. And the best way would be direct payments to each individual.

Coronavirus News (16)

Pelosi: Democrats eyeing more cash payments in next emergency bill
California coronavirus cases doubling every three to four days as US death toll nears 1,000
Cuomo says Senate's $2 trillion coronavirus bill would be 'terrible' for New York "Based on initial reports, New York State government gets approximately $3.1 billion," Lever said in the statement. "As a percent of our total state budget – 1.9% – it is the second lowest amount in the nation."....... "The gross political manipulation is obvious," Lever said. "Compounding this inequity is the fact that New York State contributes more to the federal government than any other state in the nation. It is just another case of politics over sound policy."....... More than 30,000 COVID-19 cases have been counted across the state as of Wednesday morning, accounting for more than half of all confirmed cases in the country. ........ The House bill would have given us $17 billion. The Senate bill gives us $3 billion
Congress likely to send taxpayers $1,200 checks in coronavirus aid. Here’s who qualifies However, you are still eligible for a check if you have no income or if you rely solely on non-taxable government benefit programs like Supplemental Security Income benefits, or SSI, from Social Security....... You also must have a valid Social Security number in order to receive the funds.
Coronavirus deals blow to Putin's plans to stay in power until 2036
The upcoming job losses will be unlike anything the US has ever seen
Quarantined In India: No Soap, Dirty Toilets, Not Enough Coronavirus Tests
Woman coughs on $35K of goods at Pennsylvania grocery store in ‘very twisted prank’
Coronavirus deaths reported in the US hit a high yesterday. Today will be worse
Trump team failed to follow NSC’s pandemic playbook
China: Pompeo has 'sinister motive' for pushing 'Wuhan virus' language
US push to include 'Wuhan virus' language in G7 joint statement fractures alliance
Video reveals lung damage in US coronavirus patient: 'People need to take this seriously'