Bailout--Stimulus Thread

[Numark3]

17 hours ago, Capco said:

 

Giving the money to most people directly doesn't just help those people.  The vast majority of people who receive this money are going to spend it almost immediately.  This is just as much of a stimulus for the economy as a whole as it is for the individual American.  

 

But you're right that there are some pitfalls.  For example, anyone who didn't make enough money to even file a federal tax return for 2018 or 2019 is SOL afaik, unless they are already receiving payments from SSI or Social Security.  That's basically the homeless plus anyone who predominantly works under the table, and those people are typically below the poverty line.  

not to be rude, but how are the homeless being impacted financially?

 

and what exactly are people

goiing to immediately spend the money on.  If I got 1,200 bucks right now, I would have trouble spending it if I wanted to.  

[Tiberius]

He literally said he will disobey the law, the part on oversight. What would the scam artist who gave us Trump U do that? 

 

You think he will bail out is properties? 

Just now, Crayola64 said:

not to be rude, but how are the homeless being impacted financially?

 

and what exactly are people

goiing to immediately spend the money on.  If I got 1,200 bucks right now, I would have trouble spending it if I wanted to.  

It's a good time to buy stock. ?

[Numark3]

6 minutes ago, Tiberius said:

 

It's a good time to buy stock. ?

that’s what I would do.  But I imagine a large portion of people making less than 100,000 are not invested in the stock market outside of their retirement 

[Tiberius]

1 minute ago, Crayola64 said:

that’s what I would do.  But I imagine a large portion of people making less than 100,000 are not invested in the stock market outside of their retirement 

Yup, lots of people are going to be wiped out by this. There are some hard times coming too many. 

[3rdnlng]

57 minutes ago, Tiberius said:

Yup, lots of people are going to be wiped out by this. There are some hard times coming too many. 

To, two and too. Still stumping Gleeful Gator. 

[SoCal Deek]

1 hour ago, Crayola64 said:

that’s what I would do.  But I imagine a large portion of people making less than 100,000 are not invested in the stock market outside of their retirement 

Not trying to be overly argumentative here, but recent the stock market drop has been around 25%, which is pretty much back to the level it was just a year or so ago. The current correction shouldn’t have ‘wiped out’ anyone. It will come back, it always does. 

[Foxx]

https://twitter.com/JohnCornyn/status/1243893448085733376

 

[Tiberius]

Why would Trump do this? 

 

Trump Ousts Pandemic Spending Watchdog Known for Independence

The official had been leading the office of the inspector general for the Pentagon. In removing him from that role, the president stripped him of his pandemic relief oversight duties as well.

 

 

 

 

 

WASHINGTON — President Trump moved on Tuesday to oust the leader of a new watchdog panel charged with overseeing how his administration spends trillions of taxpayer dollars in coronavirus pandemic relief, the latest step in an abruptly unfolding White House power play against semi-independent inspectors general across the government.

Edited April 8, 2020 by Tiberius

[shoshin]

I'm not sure if this is covered here but our company went through the PPP exercise. We have had to change our application almost completely twice. The government is changing the rules and requirements about as fast as it can. It is not easy to spend 2T in a hurry and I'm not complaining, just explaining.

 

All the changes made sense. At first our 1099 employees were part of our calculation, then they weren't because the gov wants them to apply directly. There was a question of how to backup our payroll data for the bank to have an accurate record. Which months to include. I could go on. I'm surprised the $$ is hitting people's accounts already from the PPP given how fast the guidelines are changing. If we'd gotten our app in a day before, I think we would have gotten all our 1099 people covered, and these people are now not part of the PPP for companies, though they should be able to apply themselves. When I spoke to my banker yesterday, he sounded like his head was in a vice. This is a very senior guy who is running around helping businesses fill out forms now. 

 

The big banks are a cluster on this. I was lucky to avoid Wells Fargo (my usual bank) and get help from a small local bank. Wells had a notice up on their website as early as Saturday telling businesses to work with other banks because they weren’t yet ready. I should have screen shot it. 

Edited April 8, 2020 by shoshin

[3rdnlng]

2 hours ago, Tiberius said:

Why would Trump do this? 

 

Trump Ousts Pandemic Spending Watchdog Known for Independence

The official had been leading the office of the inspector general for the Pentagon. In removing him from that role, the president stripped him of his pandemic relief oversight duties as well.

 

 

 

 

 

WASHINGTON — President Trump moved on Tuesday to oust the leader of a new watchdog panel charged with overseeing how his administration spends trillions of taxpayer dollars in coronavirus pandemic relief, the latest step in an abruptly unfolding White House power play against semi-independent inspectors general across the government.

Links?

[shoshin]

Update: One business's experience. My banker just told me that the SBA "approved" our PPP request. 

 

Things he said he doesn't know yet:

 

(1) What amount is approved (the amount we requested or some lesser amount).

(2) If they will adjust the amount, pay it at once, or pay it in installments.

(3) How they will get it to me. 

(4) Whether they will want more information before distributing it. 

(5) When it will be available.

 

But it's "approved." That's better than whatever I had yesterday. I'll keep updating my fellow business owners on our progress. 

 

(We applied for very little by the way, but even a little will help our cash flow...as I go on 3 weeks without a bill being paid!)

Edited April 8, 2020 by shoshin

[Foxx]

it has begun...

[Tiberius]

Washington post: House Democrats unveiled a sprawling coronavirus rescue bill Tuesday that would direct more than $3 trillion to state and local governments, health systems, and a range of other initiatives, setting up a huge clash with Senate Republicans and the White House over how to deal with the sputtering economy.

The bill would also send a second round of stimulus checks to millions of Americans and include more funding for the Postal Service. Not every component of the bill would include more government spending. Some parts would aim to address the coronavirus pandemic in other ways, such as by requiring passengers to wear masks on airplanes and public transit.

[unbillievable]

On 3/28/2020 at 7:28 AM, Crayola64 said:

not to be rude, but how are the homeless being impacted financially?

 

and what exactly are people

goiing to immediately spend the money on.  If I got 1,200 bucks right now, I would have trouble spending it if I wanted to.  

 

The homeless guy pan-handling at the intersection next to my office building (same guy for years) has disappeared since they governor locked down the state.

 

[Tiberius]

Republicans in Senate are not even going to consider this next bailout. Are they just giving up on Trump and getting ready to fight Biden on the sudden found need for tax cuts and budget cuts. 

 

Note: Democrats are trying to save the people. 

[SoCal Deek]

6 minutes ago, Tiberius said:

 

Note: Democrats are trying to save the people. 

Classic! First, you starve your captives until they’re near death, then you start offering them crumbs....and they’ll follow you anywhere. “Please Sir, can I have some more?”

[Tiberius]

Just now, SoCal Deek said:

Classic! First, you starve your captives until they’re near death, then you start offering them crumbs....and they’ll follow you anywhere. “Please Sir, can I have some more?”

Most Americans understand and approve the fact we needed to take measures to survive a pandemic. I get the loons will say the virus is a Democrat, just like FDR helped the Japanese bomb Pearl Hatbor. 

 

Loons  s will be loons. 

 

Still, Republicans bailing out on Trump? Lol 

[SoCal Deek]

2 minutes ago, Tiberius said:

Most Americans understand and approve the fact we needed to take measures to survive a pandemic. I get the loons will say the virus is a Democrat, just like FDR helped the Japanese bomb Pearl Hatbor. 

 

Loons  s will be loons. 

 

Still, Republicans bailing out on Trump? Lol 

I have no idea what most of that’s about but you seem absolutely committed to it so I’m not going stop you. Rock On! 

[Tiberius]

1 minute ago, SoCal Deek said:

I have no idea what most of that’s about but you seem absolutely committed to it so I’m not going stop you. Rock On! 

I think it’s funny the Republicans want Trump gone, too 

[SoCal Deek]

2 minutes ago, Tiberius said:

I think it’s funny the Republicans want Trump gone, too 

In America it only matters what the voters want. This isn’t parliament! 

[B-Man]

'Not something designed to deal with reality': GOP rejects Pelosi's $3 trillion coronavirus package

by Susan Ferrechio

Original Article

 

 

 

[B-Man]

 

 

LARDED UP: 

 

9 Pet Projects in Pelosi’s $3T ‘Democratic Wish List’ Coronavirus Bill.

 

 

 

 

 

 

[B-Man]

 

 

 

 

 

[Tiberius]

3 minutes ago, B-Man said:

 

 

 

 

 

You are making fun of the person trying to help, are you not sweet. Remember all the crying about how the economic crisis was going to hurt so many people? Here's help, now you trash it. @Magox 

[B-Man]

 

[Boatdrinks]

1 hour ago, Tiberius said:

You are making fun of the person trying to help, are you not sweet. Remember all the crying about how the economic crisis was going to hurt so many people? Here's help, now you trash it. @Magox 

Is that what Pelosi was doing the first time around when she was holding things up ? Helping ? 

[Tiberius]

27 minutes ago, Boatdrinks said:

Is that what Pelosi was doing the first time around when she was holding things up ? Helping ? 

Holding what up? The stimulus that passed? Sure, we are a republic, they argue, what's wrong with that? 

 

 

Here, the GOP is saying screw local government. Do you know how bad a recession is, all the death, suicide, misery, etc.??

[IDBillzFan]

30 minutes ago, Boatdrinks said:

Is that what Pelosi was doing the first time around when she was holding things up ? Helping ? 

 

Please. Pelosi completely left Americans hanging with no income because it didn't benefit her. 

 

 

[Chef Jim]

2 hours ago, Tiberius said:

You are making fun of the person trying to help, are you not sweet. Remember all the crying about how the economic crisis was going to hurt so many people? Here's help, now you trash it. @Magox 

How is this helping?

 

The HEROES Act also requires the Assistant Secretary for Mental Health and Substance Abuse to “submit a report to Congress that details a strategy for offering support or providing technical assistance for training programs for National Suicide Prevention Lifeline counselors to increase competency in serving LGBTQ youth.”

 

 

[B-Man]

3 minutes ago, Tiberius said:

Holding what up? The stimulus that passed? Sure, we are a republic, they argue, what's wrong with that? 

 

 

Here, the GOP is saying screw local government. Do you know how bad a recession is, all the death, suicide, misery, etc.??

 

 

And here Boatdrinks, is the perfect example of Kindergarten spin.

 

Holding up the stimulus by democrats is normal acts by the government.............."whats wrong with that ?  

 

While the GOP stating that the lard filled 2nd proposal by Pelosi and Co. is ridiculous, while NOT saying the people might need more help soon (as ? keeps lying)

 

Boiled down to simpleton Tibs level -- "if you don't love the Democrat proposal, you hate Americans"

 

?

[Boatdrinks]

4 minutes ago, Tiberius said:

Holding what up? The stimulus that passed? Sure, we are a republic, they argue, what's wrong with that? 

 

 

Here, the GOP is saying screw local government. Do you know how bad a recession is, all the death, suicide, misery, etc.??

I don’t think that’s the case. It seems the Dems proposal is filled with lib -style goodies that need weeding out. Things that have little or nothing to do with Covid 19 relief. You know;  releasing criminals , vote by mail, LGBTQ crap, “ environmental justice ..wtf? The bill mentions “ diversity “ about 20 times. How is that relevant to Covid 19 ? There’s some good stuff in there, but a LOT of garbage too. 

[Tiberius]

1 minute ago, Boatdrinks said:

I don’t think that’s the case. It seems the Dems proposal is filled with lib -style goodies that need weeding out. Things that have little or nothing to do with Covid 19 relief. You know;  releasing criminals , vote by mail, LGBTQ crap, “ environmental justice ..wtf? The bill mentions “ diversity “ about 20 times. How is that relevant to Covid 19 ? There’s some good stuff in there, but a LOT of garbage too. 

Of course the GOP is going to say that. They don't give a crap about regular people so they just make a political argument, "Transgender people will get fake breast implants with this bailout!!" 

 

Just like when the pandemic started people like @Magox were saying economic hardship is a disaster for people, now the solution to the problem of  suicide, abuse, early death are like, well, not the governments problem. 

 

 

6 minutes ago, B-Man said:

 

 

And here Boatdrinks, is the perfect example of Kindergarten spin.

 

Holding up the stimulus by democrats is normal acts by the government.............."whats wrong with that ?  

 

While the GOP stating that the lard filled 2nd proposal by Pelosi and Co. is ridiculous, while NOT saying the people might need more help soon (as ? keeps lying)

 

Boiled down to simpleton Tibs level -- "if you don't love the Democrat proposal, you hate Americans"

 

?

there's a depression going on! The Government should help. Dems are trying. GOP has said now, "What problem?" 

[Boatdrinks]

6 minutes ago, Tiberius said:

Of course the GOP is going to say that. They don't give a crap about regular people so they just make a political argument, "Transgender people will get fake breast implants with this bailout!!" 

 

Just like when the pandemic started people like @Magox were saying economic hardship is a disaster for people, now the solution to the problem of  suicide, abuse, early death are like, well, not the governments problem. 

 

 

there's a depression going on! The Government should help. Dems are trying. GOP has said now, "What problem?" 

But that’s not a political argument Tibs, its an argument about spending that has nothing to do with Covid 19 relief baked into a bill specifically for such relief. It doesn’t belong in there and is a disgusting display of special interest BS being used to hold regular people and their finances hostage. To advance what is a purely political agenda. That’s just wrong. 

[IDBillzFan]

23 minutes ago, Chef Jim said:

How is this helping?

 

The HEROES Act also requires the Assistant Secretary for Mental Health and Substance Abuse to “submit a report to Congress that details a strategy for offering support or providing technical assistance for training programs for National Suicide Prevention Lifeline counselors to increase competency in serving LGBTQ youth.”

 

 

 

Homophobe! 

[B-Man]

 

Democrats’ $3 Trillion Bill Would Include a Massive Gift…to Communist China

 

 

 

House Speaker Nancy Pelosi has introduced the Democrats’ next package they bill as coronavirus relief. As has been the case in the previous bills, this one treats the coronavirus crisis as an opportunity to fund the Democrats’ partisan priorities. Genies continue jumping out of Christmas trees every time Democrats write up another of these bills.

 

 

They’ve also prioritized China’s economy in this one. The bill includes a provision that waives Chapter 83 of title 41, United States Code. What’s that?

Chapter 83 of title 41, United States Code, shall not apply with respect to purchases made in response to the emergency declared by the President on March 13, 2020, under section 501 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5191) and under any subsequent major disaster declaration under section 401 of such Act that supersedes such emergency declaration.

Chapter 83 of Title 41, United States Code is none other than the Buy American Act. That 1933 law prioritizes American manufacturers over others when the government makes purchases. The Trump administration strengthened the Buy American act last year. The Democrats’ bill would waive it permanently, allowing the government to purchase more goods from overseas, unrestricted.

 

Advantage: China, the world’s manufacturing hub. Disadvantage: Americans who want to work making things.

[Boatdrinks]

30 minutes ago, B-Man said:

 

Democrats’ $3 Trillion Bill Would Include a Massive Gift…to Communist China

 

 

 

House Speaker Nancy Pelosi has introduced the Democrats’ next package they bill as coronavirus relief. As has been the case in the previous bills, this one treats the coronavirus crisis as an opportunity to fund the Democrats’ partisan priorities. Genies continue jumping out of Christmas trees every time Democrats write up another of these bills.

 

 

They’ve also prioritized China’s economy in this one. The bill includes a provision that waives Chapter 83 of title 41, United States Code. What’s that?

Chapter 83 of title 41, United States Code, shall not apply with respect to purchases made in response to the emergency declared by the President on March 13, 2020, under section 501 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5191) and under any subsequent major disaster declaration under section 401 of such Act that supersedes such emergency declaration.

Chapter 83 of Title 41, United States Code is none other than the Buy American Act. That 1933 law prioritizes American manufacturers over others when the government makes purchases. The Trump administration strengthened the Buy American act last year. The Democrats’ bill would waive it permanently, allowing the government to purchase more goods from overseas, unrestricted.

 

Advantage: China, the world’s manufacturing hub. Disadvantage: Americans who want to work making things.

Wow. You’d almost think Dems don’t want Americans working, making things. They’d prefer them to be on government programs, sitting home receiving UBI. 

[Tiberius]

Yup, like I said 

 

Fed chair warns of long, painful downturn if Congress does not provide more relief

Federal Reserve chair Jerome H. Powell said the potential for mass business closures and bankruptcies could diminish growth for years. 

• By Heather Long and Erica We

[Reality Check]

12 minutes ago, Tiberius said:

Yup, like I said 

 

Fed chair warns of long, painful downturn if Congress does not provide more relief

Federal Reserve chair Jerome H. Powell said the potential for mass business closures and bankruptcies could diminish growth for years. 

• By Heather Long and Erica We

Listen commie, all they have to do is stop holding us hostage. The fact that you endorse your fellow citizens being held for ransom to shake trillions of dollars out of the system is absolutely awful. Unfortunately, you are the sort of parasite that will suck the last drop of blood from the host, which ultimately destroys you. Please never stop posting. You are like a speed bag.

[Motorin']

I don't think either party has the will to do what needs to be done right now. They have injected trillions into the banking system, but they haven't required banks to offer forbearance on mortgage and business loans. 

 

The businesses, home owners and renters that are shut down or out of work due to government mandate should be allowed to pause their repayments until the government lifts the shut down. 

 

No balloon payments, no additional interest, and the paused payments should be added on to the end of the term instead of require extra payments within the term. And it needs to be retroactive back to the time of the shutdown.

 

Businesses are already shutting down instead of paying rent on spaces they can't operate in, renters are two months behind on rent, home owners across the country are in danger of foreclosure. Everybody loses if 20%-30% of small businesses go under, if renters are evicted and homeowners lose their homes.

 

The Federal government can tell the banks they won't recertify them for FDIC insurance if they don't offer forbearance, and can require mortgage holders who receive forbearance to extend it to their renters. 

 

It's going to be a horrible ***** show without this type of support.

 

 

Edited May 14, 2020 by Motorin'

[Tiberius]

12 hours ago, Reality Check said:

Listen commie, all they have to do is stop holding us hostage. The fact that you endorse your fellow citizens being held for ransom to shake trillions of dollars out of the system is absolutely awful. Unfortunately, you are the sort of parasite that will suck the last drop of blood from the host, which ultimately destroys you. Please never stop posting. You are like a speed bag.

God you are an idiot 

 

 

Nearly 3 million Americans filed jobless claims last week; eight-week total at 36.5 million

Many of these workers lost their jobs because of closures and a huge drop in spending and travel during the pandemic. The White House and some governors are struggling to reopen parts of the economy.