BREAKING: Trump wants MASSIVE $850 Billion stimulus

[Krugminator2]

Ok I hear a lot of complaining but not one solution provided.

People have credit cards. Gov could work with credit card companies to reduce interest fees and introduce lower minimum payments until the crisis is over.

I've also said in another thread that all groceries and medical supplies should be tax write offs. On top of that, general tax cuts as a way to mitigate further damage that comes in the future from debt accrued or time not spent working.

There are alternatives that I favor in opposition to a direct bailout. Trump is trying to save his re-election by making sure the economy doesn't tank due to corona, thats his motivation.

Here what should be done. Cut $2500 checks to anyone who made less than $70k last year. That number is in the IRS system. People can punch their soc. number in and get and bank info and get a direct deposit. The credit card companies will take care of this stuff on their own most likely. A tax cut will do nothing. The people who clean my house and make minimum wage and are losing cleaning jobs because people are cancelling because of the coronavirus don't need a tax cut right now. Tax cuts won't feed them.

Also have some sort of bankruptcy holiday for the next six months. Otherwise every town is going to have boarded up restaurants and you going to have multiple major industries that are going to go bust and then you have the potential to turn things into a banking crisis.

I know it is unpopular and people would like to kiss gold bars and watch in amusement as 20% of the labor force is unemployed, but Mitt Romney has exactly the right take. Mitt Romney should be President.

[eleganz]

Mitt Romney should be President.

A 2014'er on RPF saying Mitt Romney should be president.......

But anyway, seems like wha tyou want and what Trump is doing is not that far off, which is weird because don't you usually hate on Trump here?

Im usually in support of Trump but this bailout and direct checks is not the answer, at least not a blanket answer.

Billionaires also rely on a strong economy. If the government did not do a direct, what would someone like Jeff Bezos do to keep Amazon going strong? Cut his profit margins to zero during the pandemic? Open a program for donations to needy families who aren't able to work?

That kind of stuff on top of some of the non-direct bailout alternative I provided, seems to do the same without bailing anybody out.

It is in no ones interest for the economy to tank, except democrats.

[Krugminator2]

A 2014'er on RPF saying Mitt Romney should be president.

Because this is the greatest crisis since 1929 if there isn't massive action. Much bigger than 2008 which was easier to deal with because you just had to repair bank balance sheets. This is numerous sectors of the economy going belly up overnight. We need smart people who aren't $#@!ing around and making decisions to appease talk radio and illiterates. Mitt Romney is competent. And it seems like Mnuchin too.

[dokkie]

Because this is the greatest crisis since 1929 if there isn't massive action. Much bigger than 2008 which was easier to deal with because you just had to repair bank balance sheets. This is numerous sectors of the economy going belly up overnight. We need smart people who aren't $#@!ing around and making decisions to appease talk radio and illiterates. Mitt Romney is competent. And it seems like Mnuchin too.

+rep, couldn't agree more. We need bold action now and to stem the damage. 850m dollars will not break the bank

[eleganz]

Because this is the greatest crisis since 1929 if there isn't massive action. Much bigger than 2008 which was easier to deal with because you just had to repair bank balance sheets. This is numerous sectors of the economy going belly up overnight. We need smart people who aren't $#@!ing around and making decisions to appease talk radio and illiterates. Mitt Romney is competent. And it seems like Mnuchin too.

Some on RPF, the liBROtarians, would prefer to watch Americans suffer from a complete collapse. I'm not one of those. I just don't think a direct bailout is the answer. I'm not opposed to it as a way to mitigate disaster for millions of people, but its not a preferable thing to do every time a crisis appears. Alternatives should always be considered first, which I don't think they're doing in any meaningful way.

Trump appears to be doing everything you want though.

[Warlord]

Because this is the greatest crisis since 1929 if there isn't massive action. Much bigger than 2008 which was easier to deal with because you just had to repair bank balance sheets. This is numerous sectors of the economy going belly up overnight. We need smart people who aren't $#@!ing around and making decisions to appease talk radio and illiterates. Mitt Romney is competent. And it seems like Mnuchin too.

THe government doesnt have any money to give out or to bailout industries. They are running a 1.4 trillion deficit. What your advocating is for them to print dollars to give out which devalues the currency and it DOESNT WORK. It makes things worse.

The malinvestments need to be liquidated and the pain felt.

[kpitcher]

Suspend the income Tax & Payroll Tax for 3 months?
If you believe in bailouts you are not a Conservative or a Libertarian you are a Communist like Bernie sanders!

Not according to fox, or any #MAGA supporter. This will be sold as a visionary moment of leadership.

[Warlord]

Because this is the greatest crisis since 1929 if there isn't massive action. Much bigger than 2008 which was easier to deal with because you just had to repair bank balance sheets. This is numerous sectors of the economy going belly up overnight. We need smart people who aren't $#@!ing around and making decisions to appease talk radio and illiterates. Mitt Romney is competent. And it seems like Mnuchin too.

Mitt Romney is an economic illiterate

I think you should listen to the man who has been correct about this FROM THE BEGINNING..

His name is Peter Schiff. He was Ron Paul's economic adviser in 2008 (you are on RonPaulForums.com you know?)

Check him out. Read his books and listen to his podcasts and maybe you will learn something.

http://www.twitter.com/PeterSchiff/

[Bern]

+rep, couldn't agree more. We need bold action now and to stem the damage. 850m dollars will not break the bank

Good lord. Do you have me on ignore? It's 850 billion, not 850 million.

[Pauls' Revere]

Its not enough, hasn't even hit the Trillion Dollar mark.

[dokkie]

Good lord. Do you have me on ignore? It's 850 billion, not 850 million.

I see it now.

[oyarde]

Good lord. Do you have me on ignore? It's 850 billion, not 850 million.

You've convinced me to check my mail for my millions tomorrow . LOL

[oyarde]

Its not enough, hasn't even hit the Trillion Dollar mark.

But it would be 1.55 Trillion with the 200 billion Fed purchases of mortgage securities and the other 500 billion Fed ?

[Theocrat]

THe government doesnt have any money to give out or to bailout industries. They are running a 1.4 trillion deficit. What your advocating is for them to print dollars to give out which devalues the currency and it DOESNT WORK. It makes things worse.

The malinvestments need to be liquidated and the pain felt.

Why can't people understand the foolishness of thinking we can borrow ourselves out of debt or out of a recession?

[Pauls' Revere]

But it would be 1.55 Trillion with the 200 billion Fed purchases of mortgage securities and the other 500 billion Fed ?

Who cares! round it up to an even 2 Trillion.

[Pauls' Revere]

Why can't people understand the foolishness of thinking we can borrow ourselves out of debt or out of a recession?

We are Zombieland in every sense.

Definition of Zombie Corporation:

https://en.wikipedia.org/wiki/Zombie_company

Zombie companies are indebted businesses that, although generating cash, after covering running costs, fixed costs (wages, rates, rent) they only have enough funds to service the interest on their loans, but not the debt itself.[1] As such they generally depend on banks (creditors) for their continued existence, effectively putting them on never-ending life support.

[Theocrat]

And don't forget the gov't is BROKE. They dont have money for these bailouts. They're already running a 1.4 trillion deficit. Trump should be honest with the people and own up to the mess, cut government spending dramatically and fix this. But he won't. He's had 3 years and all he's done is pump up a stock market bubble and presided over massive debts.

"You must spread some Reputation around before giving it to Warlord again."

Trump supporters on this forum are going to reveal where there true principles lie, finally exposed today. Any support of Trump's actions to bolster the economy with government stimuli will expose them as supporting the same socialist policies that the Democrats support, from UBIesque measures to flooding the economy with more Federal Reserve Notes.

And if any of you Trump supporters agree with these government stimulus packages and lowered interest rates by the Fed, then YOU ARE ON THE WRONG FORUMS!

[Theocrat]

We are Zombieland in every sense.

Definition of Zombie Corporation:

https://en.wikipedia.org/wiki/Zombie_company

Zombie companies are indebted businesses that, although generating cash, after covering running costs, fixed costs (wages, rates, rent) they only have enough funds to service the interest on their loans, but not the debt itself.[1] As such they generally depend on banks (creditors) for their continued existence, effectively putting them on never-ending life support.

We need to "chop off their heads."

[Pauls' Revere]

We need to "chop off their heads."

Yep, double tap.

[shakey1]

[TheTexan]

Sweet sweet stimulation

[Pauls' Revere]

No kidding! They are printing so fast The FED had to restart the commercial paper printing facility.

https://finance.yahoo.com/news/u-fed...173701545.html

NEW YORK/WASHINGTON (Reuters) - The U.S. Federal Reserve said on Tuesday it would reinstate a funding facility used during the 2008 financial crisis to get credit directly to businesses and households as fears over a liquidity crunch due to the coronavirus have grown in recent days.

The reintroduction of the so-called Commercial Paper Funding Facility (CPFF) is one of a number of moves by the central bank in recent days to try to counter the adverse economic impact of the coronavirus outbreak, and the resulting turmoil in global markets, by pumping money into the real economy.

The commercial paper market is an important unsecured, short-term funding market, where companies typically pledge future accounts payables or inventories for cash, which they repay in less than a year. That market has been under strain in recent days amid growing fears that companies suffering business disruptions due to the virus may not be able to pay back the cash.

[r3volution 3.0]

As of now, they haven't quite decided how much they plan to piss away.

By Tuesday morning, the Treasury Department was preparing to unveil a package of $850 billion including more than $50 billion for the airline industry, $250 billion for small-business support and $500 billion for aid to individuals through direct payments or payroll tax cuts.

By Tuesday afternoon, Mnuchin acknowledged it was more than $1 trillion — and justified given the severity of the downturn.

https://www.politico.com/news/2020/0...timulus-133821

No kidding! They are printing so fast The FED had to restart the commercial paper printing facility.

https://finance.yahoo.com/news/u-fed...173701545.html

NEW YORK/WASHINGTON (Reuters) - The U.S. Federal Reserve said on Tuesday it would reinstate a funding facility used during the 2008 financial crisis to get credit directly to businesses and households as fears over a liquidity crunch due to the coronavirus have grown in recent days.

The reintroduction of the so-called Commercial Paper Funding Facility (CPFF) is one of a number of moves by the central bank in recent days to try to counter the adverse economic impact of the coronavirus outbreak, and the resulting turmoil in global markets, by pumping money into the real economy.

The commercial paper market is an important unsecured, short-term funding market, where companies typically pledge future accounts payables or inventories for cash, which they repay in less than a year. That market has been under strain in recent days amid growing fears that companies suffering business disruptions due to the virus may not be able to pay back the cash.

And there it is.

The only surprise is that they didn't do it Sunday.

Sweet sweet stimulation

That's not the intended use for Trumpy Bear...

[Gumba of Liberty]

Everything we need to have a Free Country: Individual Freedoms, Respect for Each Other, Courage, Small Town Businesses, Social Gatherings, Education, Tight-Knit Relationships, Hard Savings, Constitutional Protections, etc. are literally melting away before our very eyes. This crisis is perfect if your goal is to implode the American Economy and cause massive chaos. This feels like Pearl Harbor, 9/11, & 2008 all rolled into one. For what purpose? The same purpose Divide & Conquer is always used for: Fear & Control. God help us. Better yet, God give us the strength to help ourselves.

Oh and by the way, does anyone remember the Doomsday Bunkers the Billionaires have been building like crazy since 2008?

... and most people think the toilet paper people are crazy. Hold on tight, we are in for a ride.

[Sammy]

Tax cuts disappoint you?

No. I always support Tax cuts. I would like all Taxes except Tariffs to be abolished.
But this stimulus package includes:

$350 billion to increase the social safety net, including expanded unemployment insurance with waived work requirements; automatic extensions to Medicaid if America falls into a recession; a 15 percent benefit increase to SNAP; and pausing monthly student debt payments
Which I oppose.
$50 billion bailout for the airline industry. Mitt Romney & other RINOs are pushing for a UBI.

[ATruepatriot]

Everything we need to have a Free Country: Individual Freedoms, Respect for Each Other, Courage, Small Town Businesses, Social Gatherings, Education, Tight-Knit Relationships, Hard Savings, Constitutional Protections, etc. are literally melting away before our very eyes. This crisis is perfect if your goal is to imploded the American Economy and causes massive chaos. This feels like Pearl Harbor, 9/11, & 2008 all rolled into one. For what purpose? The same purpose Divide & Conquer is always used for: Fear & Control. God help us. Better yet, God give us the strength to help ourselves.

Oh and by the way, does anyone remember the Doomsday Bunkers the Billionaires have been building like crazy since 2008?

... and most people think the toilet paper people are crazy. Hold on tight, we are in for a ride.

This is one of the most realistic and astute observations I have read in years.

[RonZeplin]

No. I always support Tax cuts. I would like all Taxes except Tariffs to be abolished.
But this stimulus package includes:

$350 billion to increase the social safety net, including expanded unemployment insurance with waived work requirements; automatic extensions to Medicaid if America falls into a recession; a 15 percent benefit increase to SNAP; and pausing monthly student debt payments
Which I oppose.
$50 billion bailout for the airline industry. Mitt Romney & other RINOs are pushing for a UBI.

Mitt is a REAL Republican, GOP presidential candidate 2012 grade. The RINO's are the good guys, Massie, Rand and the like.



Another GOP presidential grade REAL Republican.

[Gumba of Liberty]

This is one of the most realistic and astute observations I have read in years.

I wish the circumstances were different but if we can’t call a spade a spade and speak truth were are truly doomed. It’s times like these where we need to be honest with ourselves and each other if we intend to see each other on the other side. Good luck everyone. Stay safe, stay strong, and, most of all, stay free.

[tfurrh]

Country music will cook up some "We're all in this together"
"God bless the president and damn the virus" songs and unite us all.

[ATruepatriot]

I wish the circumstances were different but if we can’t call a spade a spade and speak truth were are truly doomed. It’s times like these where we need to be honest with ourselves and each other if we intend to see each other on the other side. Good luck everyone. Stay safe, stay strong, and, most of all, stay free.

And the same to you...