Economic Stimulus Balloons to More than $1 Trillion

[applegrove]

Economic Stimulus Balloons to More than $1 Trillion

March 17, 2020 at 1:07 pm EDT By Taegan Goddard 0 Comments

https://politicalwire.com/2020/03/17/economic-stimulus-package-balloons-to-more-than-1-trillion/

"SNIP.....

“The government’s economic stimulus is set to quickly balloon into trillion-dollar territory in the coming days, the largest rescue in modern American history, as major industries flood the Trump administration and Capitol Hill for aid while huge swaths of the economy stall from the coronavirus crisis,” Politico reports.

“Treasury Secretary Steven Mnuchin will meet with Senate Republicans behind closed doors on Tuesday to present lawmakers with options for aid to airlines, hotels, casinos and small-to-medium-sized businesses.”

.....SNIP"


So George W Bush did massive military spending after the 2001 recession and 9/11. Trump does massive spending in the coronavirus crisis but Obama was not allowed infrastructure spending once he lost his supermajority while there was the great recession. Republicans are hypocrites.

[Newest Reality]

1. Will the...

Will the Captains of Industry begin to manufacture consumers to buy their wares, as well? The haves can only buy so much of the many things you don't really need to be happy and can't get enough of.

The rest of us, the low-hanging fruit for decades now, may eventually perish or retreat to the cracks and corners of this paradise to grovel and scrape for sustenance, so I don't think we will be supporting the welfare-driven socialism for Corporate America all that much after evictions and food scarcity weaken us to the point of a half-Depression scenario.

I guess the formula will be $1-trillion again, and again, and pump and inject, etc., while we all know where the bail out should really go if you want to be honest about the circle of producer/provider/consumer. It seems one part is being chopped off as collateral damage if not. How does that work? What sense does that make?

Oh, St. Scrooge and St. Potter know. It's capitalist dogma at its finest.

[uponit7771]

4. THIS !!! They'll need to make humans that'll buy crap cause everyone else is going to be hunkered

... in their houses.

The real economic impact is going to hit in a month and Trump will be talking about Hillary's emails still

[Newest Reality]

5. Yup!

I think a good metaphor/example of this is that there is a HUGE market of luxury condominiums. Take New York for example. They build mostly luxury now for that reason. The wealthy buy them both for status and as investments. Many are not sitting, unoccupied because that market is going down. Awww!

However that is an indicator to me that capitalism is now dedicated to serving the wealthy and building even more luxury while a significant number of Americans are in dire straights. Affordable housing is not really even on the radar, and more luxury investment properties are still the larger percentages of starts in many areas.

Meanwhile, homelessness, food insecurity and a crises that will make it even more obvious that the facade or mask covers up a very bad economic situation for a wide swath of Americans. The house of cards?

[uponit7771]

12. Yep and its about to fall hard

[Aaron Pereira]

2. Cash grants to casinos cruise lines and assorted Republican donors?

How are they going to PAY for that? The question never asked during corporate bailout time.

[uponit7771]

3. That doesn't solve money flow problems at the consumer level. Since we have no testing regime

... nationwide we wont know he's sick

[Goodheart]

6. Aid to CASINOS? You've got to be fucking kidding me, right?

[NewJeffCT]

8. I'm sure Trump resorts and casinos will get bigly money

and golf courses

[Sugar Smack]

17. I admit my jaw dropped.

[Goodheart]

7. Aid to CRUISE LINES? You've got to be fucking kidding me, right?

[KatyMan]

10. cruise lines whose ships carry foreign flags no less n/t

[applegrove]

11. Aid to BOEING? You've got to be fucking kidding me, right? Seriously,

I don't want to see Boeing go under but they do not deserve profits for some years to come.

[Windy City Charlie]

9. That's what I fear

I fear all of this money will go to the big businesses and corporations and the consumers who need it will get nothing.

[ooky]

13. Perhaps that's the purpose of "the $1000 check"? The consumers get ONE of those,

the corporations get the rest of the trillions. A $1000 pittance to make the little people think they are getting something, then our esteemed corporate oligarchs come in and ransack that "new money", fill their pockets with it, and buy back more their stock again while promising jobs and benefits that never materialize.

Just like the big Republican "tax cut". To them, this coronavirus is another big harvest opportunity.

[Windy City Charlie]

14. Exactly

That's why we need to keep a close eye on how the Senate version of the bill gets re-written.

[MFGsunny]

15. + 1000 n/t

[WyattKansas]

16. And you just know the greedy fuckers are going to be coming back in a few months...

Demanding Social Security and Medicare cuts to cover it.
Or better yet, dump the Fund on the stock market to boost it for Corporate America.

[Amishman]

18. We will need stimulus and aide on both sides; supply and demand

businesses, especially restaurants and entertainment, are going to need tax breaks and plain old handouts to remain solvent.

The public are going to need financial aid as well.

[RandiFan1290]

19. Where is the 'Tea Party?'