Economy Biden Reveals Relief Package Trump Supporters Requested

[MiniCraque]

Yeah, but can't they go even further? Just think how big the boom would be if they spent $100 Trillion. Or $200 Trillion? The more money created out of thin air, the more positive the result of course.

No money is being created out of thin air.

 

[ultramanhyata]

It's not a bipartisan issue and no one here claimed it was.

It's a partisan issue in the sense that the left tend to be deficit doves and the right deficit hawks. Yet Trump supporters were never up in arms about Donny's profligate deficit spending but are now expressing grave concerns over Biden's proposed aid package. Interdasting.

 

[calavera2]

If only there was a conservative group of lawmakers that would stand up against these nation destroying deficits by the nwo. Something like a tea party rebellion. One can only dream.

 

[BlacknBlue]

No money is being created out of thin air.

Where are you thinking this $1.9 trillion is going to come from?

 

[Deleted member 555403]

If only there was a conservative group of lawmakers that would stand up against these nation destroying deficits by the nwo. Something like a tea party rebellion. One can only dream.

if only these tea party rabble rousers could see the issue is capitalism instead of celebrating it. One can only read a book.

 

[MiniCraque]

Where are you thinking this $1.9 trillion is going to come from?

Directly? Deficit spending. Indirectly? From anyone willing to purchase treasury bonds.

Biden can't "create money out of thin air". Only the FED can do that.

Is it too much to ask that people should know the difference between fiscal and monetary policy before they forecast inevitable doom?

 

[BlacknBlue]

Directly? Deficit spending. Indirectly? From anyone willing to purchase treasury bonds.

Biden can't "create money out of thin air". Only the FED can do that.

Is it too much to ask that people should know the difference between fiscal and monetary policy before they forecast inevitable doom?

So only the federal reserve can create money out of thin air, good. Now who is the single largest purchaser of treasury bonds by a large margin (especially since April)?

 

[Jack V Savage]

It is absurd to say that $1.9 Trillion is better than < $1.9 Trillion and I threw out exaggerated numbers to help illustrate that.

It doesn't illustrate it because there is a right answer (an ideal stimulus package size--it's not just "higher" or "lower"). And why would it be absurd to think that $1.9T is better than <$1.9T? Seems pretty obvious, given where interest rates, unemployment, inflation, and debt service is.

The idea that all government has to do is print large amounts of money and a "boom" is created (that they get full credit for of course) is also absurd.

Why? Lot of theory and evidence behind that.

 

[calavera2]

if only these tea party rabble rousers could see the issue is capitalism instead of celebrating it. One can only read a book.

Capitalism is fine it's those uppity half black guys in tan suits that are the real threat.

 

[blaseblah]

This is good. You need to spend to get out of a recession. Something "fiscal conservatives" don't seem to understand.

 

[Peli]

Biden will introduce the aid package during an evening speech from Wilmington, Del., tonight. at 7:15 p.m.
ET.

The Democratic president-elect said last week the stimulus package would be “in the trillions of dollars” and argued that more spending early on would reduce the long-term economic damage from the shutdowns spurred by the pandemic.

The proposal, called the American Rescue Plan, includes several familiar stimulus measures in the hopes the additional fiscal support will sustain U.S. families and firms until the Covid-19 vaccine is widely available.


Here’s some of what Biden calls for:

• Direct payments of $1,400 to most Americans, bringing the total relief to $2,000 including December’s $600 payments
• Increasing the federal, per-week unemployment benefit to $400 and extend it through the end of September
• Increasing the federal minimum wage to $15 per hour
• Extending the eviction and foreclosure moratoriums until the end of September
• $350 billion in state and local government aid
• $170 billion for K-12 schools and institutions of higher education
• $50 billion toward Covid-19 testing
• $20 billion toward a national vaccine program in partnership with states, localities and tribes
• Make the Child Tax Credit fully refundable for the year and increase the credit to $3,000 per child ($3,600 for a child under age 6)

The plan is the first of two major spending initiatives Biden will seek in the first few months of his presidency, according to senior Biden officials.

The nearly $2 trillion price tag will likely draw disdain from Republicans, such as Sen. Rand Paul of Kentucky, who may be wary of spending even more after December’s $900 billion bill.
https://www.cnbc.com/2021/01/14/biden-stimulus-package-details-checks-unemployment-minimum-wage.html



Hyperinflation anyone?

gotta spend money to make money. I would have liked it more left but I'm cool with it.

 

[Peli]

What Americans really need is a full re-opening of the country and getting rid of all governor mandates

the country is more or less open. Take the vaccine and we can open 'fully' just fine.

 

[MiniCraque]

So only the federal reserve can create money out of thin air, good. Now who is the single largest purchaser of treasury bonds by a large margin (especially since April)?

It doesn't matter. The policies are independent from one another. If the Fed wants to provide monetary stimulus, they can purchase bonds regardless of any fiscal expansion by the US government. If the US government wants to engage in fiscal expansion, it can do so with or without the Fed.

Unless Biden is secretly mind controlling Powell and ordering him to finance deficit spending, your "create money out of thin air" shows a total lack of understanding on what Biden can and can't do.

 

[Mark Hunts FIST]

Sure, more money is needed to be given out. Some states have crushed their constituents.
The state of New York has just been atrocious, if you're a business owner

 

[BassAckwards]

What's everyone's thoughts on national 15 dollar wage? Would have preferred UBI because I think automation may hurt higher wages if companies don't want to pay it.

great way to hurt small businesses. they'll have to increase the cost of their goods/services or make their full time employees part time so they dont have to pay for their benefits

 

[Greta Thunberg]

if only these tea party rabble rousers could see the issue is capitalism instead of celebrating it. One can only read a book.

Here's one...

 

[Mark Hunts FIST]

What's everyone's thoughts on national 15 dollar wage? Would have preferred UBI because I think automation may hurt higher wages if companies don't want to pay it.

National...fuck no..

States like ca/ny may need it. BFE Oklahoma doesnt.

 

[Renard]

1.9 trillion? Why not the clean 2 trillion? Type of stuff they teach you in psychology class.

This stimulus package can be yours for the simple price of 19 easy payments of 99.97 million. Order in the next 5 minutes and receive a FREE commemorative copy of "How Joe Biden beat Joe BIden"

 

[Peli]

They're going to find something like $10M earmarked for arts programs that will result in non stop bitching about how we need more STEM

I don't even think they know what STEM is.

 

[Greta Thunberg]

What's everyone's thoughts on national 15 dollar wage? Would have preferred UBI because I think automation may hurt higher wages if companies don't want to pay it.

It should be up to the states.




UBI?