If it’s financed at 0% interest, it’ll cost them $2 trillion.
But a portion of that is going to flow back to government anyway through income taxes.
And what’s the cost of not protecting the economy?
I think there is a fair chance of a massive debt reset coming. China needs to pay for this crap.
Fortunately, many had already dipped into it.
I sold my stock in December to have money for cataract surgery available. It was $18/sh....now it's 10/s. I lucked out. Except they shut elective surgery down and the second eye is on hold. In the fall....it's not real bad like the first one.
$2T is just today’s price. There will be another one this year, and no doubt another after next year’s closing.
What we are doing to our children, grandchildren, and future generations of America is immoral, unconstitutional, and unethical.
It should be illegal. This is wrong.
onservative Inc” need to stop with the knee jerk ideological reactions.
If China had declared war on the US none of you would say a word about this spending. This China Virus is doing more damage to the US, and the World, economy then any war in our history.
Yes we all wish this was not necessary. Yes, we wish this was a clean bill without the usual pork vote buying tactics. Well welcome to the messy workings of legislative politics in a Constitutional Republic.
People have to deal with the world as it is right now, not as they wish it would work. We can go back to the ideological wars in 30 days.
Corporations employ tend of millions of people. Corporations are everything from your local privately own gas station down the street to massive operations like Ford or Delta Airlines.
Corporations have debt they have to play just like people. For example, When they build a new store or plant, they borrow money to finance the capital expense. In addition, they do not usually pay cash for daily supply delivers. Those are purchased are made on credit with 15-30-45-60 days to make payment. All those debt payments still have to be made even thought the Government shut them down or put a lock down on their customers.
Here is an example. I work for a Food Manufacturing corporation that employs about 5,000 people nation wide. Due to the loss of business from the slow down, they just cut all Executive and Sr Management salaries 20%. If this goes one 2 more weeks, they will cut middle management salaries, if it goes on a month they have to cut all salaries. After that they start laying off worker bees like me and shutting down production lines. Why? Because they have to have the money to make their debt payments now and hope they can make it up to employees later.
We are an “Essential Business” not shut down like the Airlines or the Car companies. The US, and the World, are on the brink of a financial crisis like nothing seen since the 1929.
Those credit bills have to be paid even if they are shut down by Government order. The people supplying them need to be paid so they can pay their creditor and so on and so on.
If they are not paid, this will trigger a cascading financial default on scale with what happened in 1929.We not talking about just crashing our economy here, we talking trashing the worlds economy if this is not addressed
$2 trillion is just the start.
Peoples’ children, grandchildren and great grandchildren will despise them for allowing this to happen.
Meh, what’s this we have now?
The House and Senate are totally doing this because of this election. Can’t wait to vote for my Rep’s opponent.
The debt keeps going up and up and up
What if we just paid people for actual losses through unemployment and then give businesses of all sizes tax breaks. Wouldn’t that cost us less rather than assuming that every adult lost $1200? Open businesses again and get people back to work. Then this whole thing will be like a bad dream rather than a nightmare that comes back to haunt us and future generations over and over again.
Well we’ve spent that much in Afghanistan. I’d rather give it to a crackhead in Camden than to a goat humper.
Absent deflation, this is really not a ball-busting concern, we should be more fiscally responsible but s#$t happens.
If everyone goes broke there will be no income tax going to the treasury and the present debt will blossom.
Damned if we do, damned if we don’t.
”But what’s unconscionable is the fact that, thanks to the way Congress spent the last decade ignoring any sense of fiscal responsibility, coronavirus relief must come at the cost of further indebting future generations”
What is unconscionable is continuing to use debt as money and to increase the power of the usurers who are strangling our people.
It is untrue that “debt relief must come at the cost of further indebtedness”. Debt relief can be accomplished by direct liquidation of debts by executive order.
This guy is clueless. Trump is purposefully bankrupting the Fed. He has no intention of paying back the $2 trillion.
The President has to veto this bill because of all the non disaster spending.
Also because of the rats legalizing all future alien immigration into this country.The border patrol will be unable to enforce any immigration controls.
The Rats love these alians more than they love American citizens.
It will cost them very little.
Overseas travel will be unaffordable because the dollar will be dispised worldwide.
Store shelves will look like those in Moscow in 1987.
It will cost them very little.
Overseas travel will be unaffordable because the dollar will be dispised worldwide.
Store shelves will look like those in Moscow in 1987.