Posted on 03/11/2021 11:23:55 PM PST by Libloather
**SNIP**
The letter, which was also signed by Congressional Progressive Caucus (CPC) chairwoman Pramila Jayapal (D-WA) and Rep. Alexandria Ocasio-Cortez (D-NY) did not specify how much any future payments should be, but progressives have voiced support for monthly $2,000 checks.
"One more check is not enough during this public health and economic crisis," said the letter signed last month by Minnesota representative Ilhan Omar and the other lawmakers.
But this third stimulus check passed because it was part of budget reconciliation, requiring only a straight majority in the upper house, and so avoided the need for Republican support in the split upper house.
However, this process can only be called upon once per fiscal year, meaning that the Democrats would have to wait until after October 1 to use it again. By then, Biden's administration may be tackling other priorities such as climate change and health care.
There was a tight deadline for Democrats who wanted this round of relief passed before unemployment benefits expired on March 14. They will not expire again until September 6, meaning that the pressure is off for lawmakers.
Also, senators later in the year might be keener to use the process on an infrastructure bill as opposed to another stimulus check, which got no backing from Republicans.
(Excerpt) Read more at msn.com ...
Also known as Universal Basic Income.
The well is dry.
Our total revenue for the entire USA, exclusive of Sicial Security and Medicare payroll taxes is about $2.3 trillion per year.
$2.3 trillion divided by $30 trillion total debt is 7.5%.
The means that if interest rates hit 7.5% on our national debt, it takes 100% of our revenue to pay the interest.
Many remember when Jimmy Carter screwed us up and caused interest rates under the early Reagan years to be over 15%.
The well is dry. Food and energy prices are skyrocketing. We are entering inflation and high interest rates again... It’s not a matter of “if”, but when we collapse.
BitEm, Wal-Mart to work plan.
If it fails....sales decline ❎ then the Greenspan Clinton MBS CDO bankers will have more loans mortgages underwater.
Then another backend stimulus to cover up another front end TALF.
The U.S. government’s total revenue is estimated to be $3.863 trillion for FY 2021.
Social Security and Medicare (payroll taxes) are $1.373 trillion in 2021.
$3.863 total revenue less $1.373 SS & Medicare is $2.133 trillion to pay for all other expenses including defense, interest on the debt, and welfare payments.
We are done.
The stimulus bill is the equivalent of maxing the credit cards before filing bankruptcy.
I disagree, there will be more bills and money to give out.
but not for me......
Term diluted into the stock market in the form of government retirement pensions. SMI Stock Market Inflation.
Farther and farther out.
Also early private (quasi govt. as in airlines bailout) retirement buy outs also term diluted into the exploding INFLATED so called “market”
Fannie Mae and Freddie Mac meet the criteria for disclosure entities and, consequently, are not consolidated into the government’s financial statements.
This means that all the mortgage proceeds kicked into the economy are NOT considered “expenditures.”
The current S&P500 10-year P/E Ratio is 34.9. This is 77% above the modern-era market average of 19.6, putting the current P/E over 1 standard deviation above the modern-era average.
Amazon.com’s Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2020 was $41.77. Therefore, Amazon.com’s PE Ratio for today is 73.28
It’s a Ponzi scheme, not based upon reality.
I just read all the white kids have to learn about oppression and injustice to indigenous and Mexican and Blacks in CA.
Good luck with the debt.
China invades and we allow it.
Names I haven't seen among our American WWII heroes.
Where does the Fed get the $$$ to own $4 trillion of our debt?
Audit the Fed.
They are trying to get you hooked to make it UBI...universal basic income...like rats in a maze.
Didn’t Schumer say, “ Go Big?” (Basic Income Guarantee)
It has not worked where it’s been tried, but that’s not stopping them.
What is the amount (ballpark figures) that we have paid in interest on the debt each of the past few years prior to this?
Who do we pay the interest to? Is it half China and half ourselves, paying back what we are borrowing from money we should be putting into reserves to pay Social Security and Medicare, etc?
What happens if we “stop paying ourselves”?
What happens if we bill China for the virus by cancelling our debt with them unilaterally, and stop further borrowing?
Which is what the left wants so they can ring in the global utopia where you'll own nothing and be happy.
We have already collapsed and its not just the US its the entire international central banking system. The petro dollar has died the central banks are bankrupt. The defunct Federal Reserve is just still printing paper because the new financial system has not yet started up. Spend your $1400 and don’t worry about it that debt is not going to to be saddled on your kids or grandkids.
The struggle which appears about to end is between the globalist cabal who want a crypto currency that totally does away with cash and can be used to control and manipulate your entire life or Trump’s quantum currency which is backed by gold,silver and platinum and gives you complete control over your money. Why do you think Trump keeps saying the best is yet to come?
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