New ( Repub) Stimulus Package Expected Today - Here's What Will Likely Be In It

[UKvisitor_rivals101449]

As reported by WLAP:
"Senate Majority Leader Mitch McConnell plans to reveal the Republican version of the next stimulus relief package later today. It's expected that he will suggest a handful of different bills, each addressing a component, rather than put it out as one proposal. Here's what to expect in it:"

Another Stimulus Check
Unemployment Benefits
Return To Work Bonus
Payroll Tax Cut
School Funding
Coronavirus Testing
Paycheck Protection Program Extension
Business Liability Protection

 

[420grover]

Cool. I need to do a few things to the truck. Now it's free.

 

[UKvisitor_rivals101449]

It is a Republican version and still has to get through the House and the Senate followed by a signature from the Pres.
THEN the admistration has to make it happen.
It may be awhile before the money flows out

 

[funKYcat75]

 

[Tskware]

I wonder how many generations will pass before the money we are spending now will ever be paid back? Remember when US policy makers used to care about deficits? Or at least pretended to?

 

[Nuke99m.]

I wonder how many generations will pass before the money we are spending now will ever be paid back? Remember when US policy makers used to care about deficits? Or at least pretended to?

Seems like Rand Paul is the only one left that pretends to care.

 

[jwheat]

Hop lite level IV ceramic plates with the last one. This one will go towards NV nods. The Tyrants won’t know what hit ‘em

 

[jwheat]

Seems like Rand Paul is the only one left that pretends to care.

Thomas massie as well. I’m proud that the two most libertarian (which isn’t saying much) politicians represent this wonderful state. I always thought of Kentucky as the state that wants to leave people the **** alone and let them live.

 

[BlueRaider22]

I wonder how many generations will pass before the money we are spending now will ever be paid back? Remember when US policy makers used to care about deficits? Or at least pretended to?

It was all a fallacy......they never cared. The federal deficit has increased under almost every single president.

https://www.marketwatch.com/story/h...s-contributed-to-the-national-debt-2018-10-29

 

[Bill Cosby]

A bunch of dumbasses run this country.

Maybe use up all the first PPP funds and start forgiving the goddam loans before implementing another round.

And just as businesses were about to be able to start hiring back people who are milking the unemployment system, let’s get another round of ******** UE pay bumps.


The next round of “stimulus” should be removing any and all incentives for hospitals to fudge Covid numbers and severe penalties for reporting inaccurate cases. We’ll be back to normal tomorrow.

 

[Tskware]

It was all a fallacy......they never cared. The federal deficit has increased under almost every single president.

https://www.marketwatch.com/story/h...s-contributed-to-the-national-debt-2018-10-29

Oh I agree, some used to just pretend they cared. Oh well, it's not that bad to be the North American version of Greece!!

 

[BlueRaider22]

My prediction......



Another Stimulus Check - same amount and distribution as under the Cares Act.

Unemployment Benefits - It'll be a step down process.......they won't cut it off completely at once. For example, the $600 will be reduced to $200 in September or something.......then reduced to $0 by December.

Return To Work Bonus - I don't think we'll see this. If we do, I'll be pissed because I've been back for a long time. If this does occur, I hope there's a bonus wrapped up for those essential workers who never took off.

School Funding - Will the school loan forbearance continue? It'll be interesting. One proposal I heard was to back up the forbearance till Sept 2021. I think this is a bit too extreme. I think if they back up the period, It'll be just for the rest of the year.

Coronavirus Testing - yup.

Businesses - Probably more small business protection programs.

Travel tax credit - This is a proposal that has been floating out there for a while now. The idea is to give everyone that travels up to a $4000 tax credit for traveling this year.......reimbursement for gas, hotel, restaurants, etc. I've never seen how this could be regulated and void of fraud. I really don't think we'll see this.

Illegal immigrants - This is something that the Democratic proposal included when it went through the House. I can't see this going through the Senate.

 

[UKvisitor_rivals101449]

I hope there's a bonus wrapped up for those essential workers who never took off.

Health care workers should be given a Huge Bonus and a Medal.
(I am not a health care worker and no one in my family is one)

 

[BlueRaider22]

Looks like the Payroll Tax Credit is a no go.


https://finance.yahoo.com/news/white-house-gop-agree-virus-043826266.html

 

[Tskware]

Looks like the Payroll Tax Credit is a no go.


https://finance.yahoo.com/news/white-house-gop-agree-virus-043826266.html

Good, we don't have the money for another tax reduction.

 

[Bill Cosby]

Looks like the Payroll Tax Credit is a no go.


https://finance.yahoo.com/news/white-house-gop-agree-virus-043826266.html

Of course. Why put money directly in the pockets of Americans who are actually working when you can use the same money to keep people sitting on their *** at home.

 

[Bill Cosby]

Good, we don't have the money for another tax reduction.

lol. Yes, the payroll tax cut is going to be the thing that pushes us over the edge. But let’s send some more money to dead people.

 

[gamecockcat]

Oh I agree, some used to just pretend they cared. Oh well, it's not that bad to be the North American version of Greece!!

At this point, the ONLY thing Dems and Repubs agree on is that we're not spending enough money. Who/what/where we spend it is always a disagreement but there is no disagreement that it will be spend somewhere. I just roll my eyes when politicians of any stripe start talking about the debt. The lack of a sense of irony in Washington is a true pandemic.

 

[LineSkiCat14]

That **** is getting invested, immediately. Yes, I know it would be better to go buy things.. but screw it.. time to make some money of this *****.

 

[WildcatfaninOhio]

Let’s hope no more tax (borrowed) dollars go to religious organizations, like the last go ‘round.

https://www.google.com/amp/s/www.wa...churches-salaries-coronavirus/?outputType=amp

 

[Bill Cosby]

Let’s hope no more tax (borrowed) dollars go to religious organizations, like the last go ‘round.

https://www.google.com/amp/s/www.washingtonpost.com/religion/2020/04/10/cares-act-paycheck-protection-churches-salaries-coronavirus/?outputType=amp

Much better to have the money go to the democrat party of Ohio or planned parenthood.


Edit: this is in no way a defense of that dog **** program.

 

[Deeeefense]

I wonder how many generations will pass before the money we are spending now will ever be paid back? Remember when US policy makers used to care about deficits? Or at least pretended to?

At some point investors (buyers of treasuries) will lose confidence in the U.S. Currency and our ability to repay those notes. At that point interest rates will rise rapidly and create hyper-inflation. The only resource would likely be for the U.S. Treasury to recall the currency and issue "new" currency at a devalued rate to pay off the debts. Everything you own - from real estate to marbles will instantly lose a large portion of it's value, maybe as much as 90%

Full disclosure, this is my own opinion not something I copied off of a web site, though it is based on what I have heard from trusted economists, so take it for what it's worth.

Note: under the current economic situation with the virus the government is most likely in a place where they have no other choice but to continue to support the economy with debt. In short we are avoiding short term negative economic consequences in favor or raising the risk of a longer term more sever problem.

 

[Tskware]

Note: under the current economic situation with the virus the government is most likely in a place where they have no other choice but to continue to support the economy with debt. In short we are avoiding short term negative economic consequences in favor or raising the risk of a longer term more sever problem.

That is what they said in 2008-2009, and they were right. Fingers crossed this time again . . .

 

[Get Buckets]

Note: under the current economic situation with the virus the government is most likely in a place where they have no other choice but to continue to support the economy with debt.

Actually they do have another choice: open up the economy and put people back to work.

 

[Deeeefense]

That is what they said in 2008-2009, and they were right. Fingers crossed this time again . . .

From memory I recall the economic recovery act was something like $800 Billion, whereas now we have already sunk over $6 Trillion into Coronavirus stimulus. At some point interest rates will start reacting negatively and it could spiral down very quickly IMO. I'm heavily invested in stored value assets - in particular gold and bitcoin.

 

[jwheat]

Start giving money to the states handling the covid crisis and see how quick those numbers drop.

 

[buckethead1978]

Political thread

 

[UKvisitor_rivals101449]

Political thread

Money thread

 

[Rebelfreedomeagle]

I'm going to invest mine too. I remember March.

 

[CB3UK]

Actually they do have another choice: open up the economy and put people back to work.

Bingo. Less than 1% of the US population has been infected. So...what the hell are we doing.

 

[dgtatu01]

I wonder how many generations will pass before the money we are spending now will ever be paid back? Remember when US policy makers used to care about deficits? Or at least pretended to?

They can pay it back today if they want. They don't need taxes to do it and the government doesn't need taxes to pay for programs. The only thing they should concern themselves with is inflation. The debt doesn't matter.

 

[rick64]

That $600 extra was brilliant wasn’t it. Folks making more money staying home than going back to work. Our government leaders are such intellectual giants.

 

[DSmith21]

Pelosi and Schumer are already saying that they want a $3 trillion package rather than the $1 trillion proposed by the GOP

 

[AlbanyWildCat]

People mad about poors getting an extra $600/month when the PPP program is the greatest heist ever. Getting PPP was nice and to think I will be able to get to wet my beak twice on the same program sounds unbelievable.

But yeah, don't stop fighting over the extra $600....

 

[Rebelfreedomeagle]

That $600 extra was brilliant wasn’t it. Folks making more money staying home than going back to work. Our government leaders are such intellectual giants.

I really think they can't comprehend how many people live on $10 per hour or what that actually looks like. $600 a week is peanuts when half of Congress are millionaires.

 

[wildcatsincebirth]

I wonder how many generations will pass before the money we are spending now will ever be paid back? Remember when US policy makers used to care about deficits? Or at least pretended to?

What about the current generation that is facing huge unemployment issues and can’t eat or pay their rent?

 

[Wildcats1st]

I wonder how many generations will pass before the money we are spending now will ever be paid back? Remember when US policy makers used to care about deficits? Or at least pretended to?

It’s repaid through inflation and always has. You’re still paying for the Vietnam war and the social programs of the 60s today when you purchase anything.

 

[PhDcat2018]

Actually they do have another choice: open up the economy and put people back to work.

Yup. This is the winner.

 

[PhDcat2018]

People mad about poors getting an extra $600/month when the PPP program is the greatest heist ever. Getting PPP was nice and to think I will be able to get to wet my beak twice on the same program sounds unbelievable.

But yeah, don't stop fighting over the extra $600....

Poors are doing what poors do. Not work. That 600 a week was incentives not to work. That hurts the economy far more. You're giving people money to produce no goods or services. It's like paying rent instead of a mortgage. Throwing money into a bottomless pit.

 

[Bill Cosby]

People mad about poors getting an extra $600/month when the PPP program is the greatest heist ever. Getting PPP was nice and to think I will be able to get to wet my beak twice on the same program sounds unbelievable.

But yeah, don't stop fighting over the extra $600....

Try employing someone rather than just grifting off the federal government and you’ll understand what that $600 does to the employment market.