Where is the Bailout Bill?????

Varmint

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Holding little to no debt is not usually a good thing in modern times. Very few countries worth living in that arent city states have low debt. The rest of the countries with low debt to GDP ratios are like that because they arent worth investing in, ergo, can't get the liquidity in the 1st place. It's more of a feature, not a bug.

If the US paid down it's debt it would mostly serve to stagnate the economy at this point.
Yeah, running up massive debts works great until it doesn't.

nobody seems to be talking about where the $2 trillion is coming from. Will we run a $3 trillion deficit this year? Maybe $4 trillion due to reduced tax receipts?

Try dumping $4 trillion in Treasuries on the bond market and see what happens to interest rates. Look at the overnight REPO market for a clue - rates go to 10% in minutes.

So the only way we can "pay" for this package is if the Fed monetizes the debt. The Fed's balance sheet will be at least $5 trillion after the newest stimulus takes effect, tack on $4 trillion and the Fed is at $9 trillion.

Hmm, ok, maybe that doesn't matter - nobody really knows, but the bizarre behavior in the bond market this month could be a clue that maybe the Fed's balance sheet isn't unlimited.
 

rickflst

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IS anyone calling and emailing our two fine senators and asking them WTF. Get the pork out and get the bill passed people need this. If we can light up Hiawatha's switch board maybe she will wake.up.
 
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Really? Wow I never got a corporate welfare check from Uncle Sam.
How does one apply for one?
Lobby, schmooze, contribute a few million to campaigns by promising to bribe a government official with a portion, put politician as profiting member or stockholder, you know - standard corporate corruption procedures in DC.
 
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When we get a bill it will not help the people who really need it. Right now everyone will be getting money even the federal, state and local employees who have been given a paid vacation.

Except for police, fire and medical employees no person who has not been laid off or lost their health insurance should get a payout.
 
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Senate comes to agreement on $2Trillion package. It them how long!? They sit there and blame the other side of the aisle and set us upon our neighbors (Dem vs Repub).

Notice that the $1.5 Trillion F-35 project was done in a blink of an eye? It was a total failure! Nobody fought over it or shut the government down on that one. Why? Because it benefits both sides of the corrupt government.

When it comes to you and I the government tried to find every way to convince you that they are helping when they only end up helping themselves.

Don’t fall into the trap of hating your neighbors based on an political ideology -especially when your leaders really don’t care about you.
 

Dench

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Yeah, running up massive debts works great until it doesn't.

nobody seems to be talking about where the $2 trillion is coming from. Will we run a $3 trillion deficit this year? Maybe $4 trillion due to reduced tax receipts?

Try dumping $4 trillion in Treasuries on the bond market and see what happens to interest rates. Look at the overnight REPO market for a clue - rates go to 10% in minutes.

So the only way we can "pay" for this package is if the Fed monetizes the debt. The Fed's balance sheet will be at least $5 trillion after the newest stimulus takes effect, tack on $4 trillion and the Fed is at $9 trillion.

Hmm, ok, maybe that doesn't matter - nobody really knows, but the bizarre behavior in the bond market this month could be a clue that maybe the Fed's balance sheet isn't unlimited.
I'm not saying it's great or fool proof. I am saying that all the 1st world countries do it, and the rest dont. And most of those who don't suck.

Will it break? Probably. Is it a balancing act from hell? Yes. Would any of us live in a country who isnt doing it? probably not.
 

Varmint

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I'm not saying it's great or fool proof. I am saying that all the 1st world countries do it, and the rest dont. And most of those who don't suck.

Will it break? Probably. Is it a balancing act from hell? Yes. Would any of us live in a country who isnt doing it? probably not.
How do you think world empires become 3rd world shitholes?
 

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So . . . couples who made $200k in 2018 and are now both laid off, don't deserve the stimulus cause they should have saved in good times.

Big corporations however . . .
If you are successful in America they steal from you and give it to the #poors. I'm surprised you're not used to it. [smile]
 

Varmint

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I dont, because that's not how modern countries transform.
maybe not, but we're in uncharted territory.

3rd world can't run up debt like us cause no one will loan to them cause they can't be trusted to pay it back. What will happen when the world realizes the US isn't gonna pay back its debt, which just grew $4 trillion this month?
 

Dench

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maybe not, but we're in uncharted territory.

3rd world can't run up debt like us cause no one will loan to them cause they can't be trusted to pay it back. What will happen when the world realizes the US isn't gonna pay back its debt, which just grew $4 trillion this month?
It's a risk. No one is denying it. But it's usually manageable. Now if the fed keeps the rates super low and the super rich keep F'ing us all in the A, its going to break for sure.

The thing the US has going for it is that the US controls its currency directly, and not through something like the EU
 

CLW42

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Ok, we got a deal.

Is the democrat BS still in it?

Is that rhetorical? Of course it's still there...a majority of it anyway. Rino's have no balls and they're all suckling from the same teets at the end of the day. Congress is like WWE without the entertainment value. Scripted nonsense for the masses.
 
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so I heard this Bill contains:
- 25 million for the Kennedy Performing Arts Center

$75 million for the National Endowment for the Humanities?

The real slap in the face? A raise…for the House of Representatives. $25 million to Pelosi and company.
That comes to nearly $60,000 per representative.
At a time when America is losing tens of thousands of jobs per day.


Hope these are not true...if these are true, every corrupt politician who voted for the bill needs to be replaced immediately

Need a link to the text of the bill.....has that been supplied to Citizens so they can read it...?
 
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PennyPincher

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Yeah, running up massive debts works great until it doesn't.

nobody seems to be talking about where the $2 trillion is coming from. Will we run a $3 trillion deficit this year? Maybe $4 trillion due to reduced tax receipts?

Try dumping $4 trillion in Treasuries on the bond market and see what happens to interest rates. Look at the overnight REPO market for a clue - rates go to 10% in minutes.

So the only way we can "pay" for this package is if the Fed monetizes the debt. The Fed's balance sheet will be at least $5 trillion after the newest stimulus takes effect, tack on $4 trillion and the Fed is at $9 trillion.

Hmm, ok, maybe that doesn't matter - nobody really knows, but the bizarre behavior in the bond market this month could be a clue that maybe the Fed's balance sheet isn't unlimited.
The fed is buying up all kinds of stuff and their "budget" has NO limits.
 
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The whole thing is f***ing retarded.
The only companies that should get bailed out should be the ones to agree to pay it back plus 1-2% interest to go towards our national debt.
There should not be ANY special interest groups involved in something like this. Our government is beyond f***ed.
We need to stop hand outs and bail outs for these giant companies who are too big to fail. If they take a bail out they should not be allowed to buy back their own stock or give giant bonuses like last time.
Boeing will be bailed out because they have a lot of government contracts yet they f***ed themselves.
Will the local restaurants get bailed out? Nope, even though it wasn’t their fault the state shut them down.

At the end we should punish China for hiding all this for so long and eliminate the the rest of the debt. Bring back all manufacturing companies to the US and allow them to be tax exempt for 3 years to get operational. Bring all the jobs back to the US.
Even if you paid them what their taxes would be those companies wouldn't be viable. Manufacturing has by products that are a lot cheaper to dump in chinas rivers than to properly dispose of
 

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Corporations are merely a convenient means of bundling the assets and liabilities of a going concern.
The fed is buying up all kinds of stuff and their "budget" has NO limits.
Their "budget" = the value of the dollar. They'll happily drive it closer to zero, and f*** anyone either with dollars, or anything denominated in dollars ( = retirees ).
 

vicorjh

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Cut and paste from Zerohedge:

• $250 billion to make unemployment insurance available to more categories of workers and to extend the duration of benefits to 39 weeks from the 26 weeks typical in most states. It would also provide an extra $600 a week for four months.
• $301 billion in direct payments to households.
• $349 billion in loans to small businesses, with the amount spent on payroll, rent or utilities converting into grants that don't have to be repaid.
• $500 billion for loans, loan guarantees or other aid to businesses, states and municipalities—including the possibility that the government will take direct equity stakes in distressed companies. Of the total, $29 billion is set aside for cargo and passenger airlines, and $17 billion is for businesses deemed critical to national security, such as Boeing. The remaining $454 billion would go to backstop losses in lending facilities established or expanded by the Federal Reserve.
• $32 billion in grants to cover wages at passenger air carriers, cargo air carriers and contractors.
• $150 billion in direct aid to states, distributed according to population size. A municipality could apply to receive aid directly, reducing the amount available to the rest of the state.
• $221 billion in a variety of tax benefits for businesses, including allowing businesses to defer payroll taxes, which finance Medicare and Social Security, for the rest of the year. It would also temporarily allow businesses to claim deductions using today's losses against past profits to claim quick refunds for cash infusions.
• $340 billion in supplemental spending, which includes $117 billion for hospitals and veterans' care. It also includes $25 billion mostly for public transit to make up for revenue lost because of dwindling ridership.

Here: Senate Releases Full Text Of $2 Trillion Stimulus Bill: Here's What's In It <-- has some additional details.
and here: Senate Passes "Largest Rescue Package in American History"
 

Boris

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so I heard this Bill contains:
- 25 million for the Kennedy Performing Arts Center

$75 million for the National Endowment for the Humanities?

The real slap in the face? A raise…for the House of Representatives. $25 million to Pelosi and company.
That comes to nearly $60,000 per representative.
At a time when America is losing tens of thousands of jobs per day.


Hope these are not true...if these are true, every corrupt politician who voted for the bill needs to be replaced immediately

Need a link to the text of the bill.....has that been supplied to Citizens so they can read it...?
lol @ "corrupt politician" ... are there any other kind? We need term limits if we can't prosecute and put them into jails. (#HilaryInOrange?)

they have also been making "progress" on increasing and extending H1Bs.
 

Broccoli Iglesias

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IS anyone calling and emailing our two fine senators and asking them WTF. Get the pork out and get the bill passed people need this. If we can light up Hiawatha's switch board maybe she will wake.up.
She doesnt give a f***. Her supporters are all transgenders with basket weaving degrees, purple hair, tattoos and the occasional liberal with a professional job.

She is probably still sore from losing to two white guys, a senile pervert and a communist, and from being called out on not being an indian.

She cares so much about the people of MA that she stopped doing her job hoping she could get a chance to get another job. She just got re-elected and tried to bail.

So tell me how many f*cks she will give about any Emails. My bet is on zero.
 

RumRunner

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From what I've found from reading so far, it seems they changed it to be off 2019 taxes first, then 2018 if you don't have 2019 filed. This may affect some if they made more for the 2019 tax year.
 

GomerPile

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f***ing congress took too long and there is too much uncertainty around the small business loans.
 
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GM-GUY

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I saw a report that the checks will be out by 31 Dec 2020 - thanks guys.

The congress set up the checks to be open ended - meaning ‘until the emergency is over’. We still have national emergencies that were declared by Carter on the books. The real names for the checks are ‘universal basic income’. Also, being open ended, how did they assign a cost? Did the CBO score it yet? Is it based on one check per person?

Further; the $2T is what Congress is spending, The FED is printing/conjuring $4T in addition.
 
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