Posted on 03/17/2020 7:03:48 PM PDT by Red in Blue PA
WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin warned Republican senators on Tuesday that failure to act on a proposed coronavirus rescue package could lead to U.S. unemployment as high as 20% and lasting economic damage, a person familiar with the closed-door meeting said. Mnuchin met with senators to persuade them to pass a $1 trillion stimulus package that would send cash to Americans within two weeks and backstop airlines and other companies.
(Excerpt) Read more at reuters.com ...
I honestly do not know. It is like we are living in the twilight zone....
Just suspend taxes on everybody for a year. Make the country a free enterprise zone for a year nd we’ll work out of this mess.
I laid off (informed) our employees yesterday. We have 30+ employees at assisted living centers.
I believe this is gong south.
What did people think was gonna happen when you purposely shut down all the schools and half the businesses.
This overreaction is going to kill the golden goose.
It is indeed insane. I’ve seen many accounts today of freepers and their families losing jobs. Yet to see one say a close associate has the Wu Flu. Let alone one seriously ill or has passed from it. Sanity has left the building
That is a very good point. I have not seen anyone post about having the wuflu, but as you noted, many know people personally who lost their jobs.
We are in big trouble and it has everything to do with us and nothing to do with wuflu.
Were in the fundraising/entertainment business. They shut down all our venues so we didnt have any choice. Cancel everything and give people their money back. We cant do any biz until this is over and venues start opening again.
There could well be unemployment at that kind of level as so many many businesses are forced to shut down. It could be that bad. These shutdowns must end ASAP! Id guess the unemployment is well over ten percent already and increasing every day as more work places shutter
I hope your in good shape.
We are all taking very hard hits.
I’m okay and will now look to help out.
+1. Same BS, different tactics. The impeachment scam was the latest to fail, but they had this queued up once impeachment faded from the headlines.
Well I certainly don’t agree with that statement either.
So besides the checks going to people it is going to help the airlines and backstop companies what companies do you think?
And if they do send out the checks what will unemployment be?
Wow, it turns out that date was a typo by a manger. For now.
Yep. I think we will look back and realize the reaction to the virus could have been more reasoned out.
So if you got one of those cheeks that he is pushing would that help you or your business?
I have thought that for a bit but to infect the entire world with a death virus is not gonna be accepted at all.
This is something that destroys all thought of a New World Order.
Think Tower of Babylon.
Unless they shut down gas stations or diesel delivery, my small family business goes on as usual
I’d probably just blow mine on another gun
Yes and China helped them.
I am asking this seriously. Just by how much would the death rate in the US increase if we did no more than isolate the must vulnerable population, test those with symptoms, followed guidelines for sanitation, and for the most part go about our daily lives?
Would it, when compared to overall population be so significant that extreme measures that will cause the sacrifice of many persons’ livelyhoods and future seem worthwhile?
Might be higher than 20% - entertainment, restaurants, travel, now most retail all shut down and in many cases indefinitely. Every week of no activity is 2 % of the country’s GNP. This will most likely make the Great Depression look like a non-event.
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