Civilized said:
BBW12OG said:
To all of the posters on here with kids under 18 I hope you realize what the left has done to them today. The tax burden for the SOCIALIST wish list just dumped a $1.71 trillion dollar tab on them in 10 years from now. I hope the ones that voted for Sleepy Joe and the gang are put in state run homes by their kids for voting this clown show into office.
And I honestly from the bottom of my heart with all sincerity mean that.
The SOCIALIST PARTY is bailing out San Francisco to the tune of $1.5 BILLION after giving millions, $5 million I believe, to homeless in order to buy them alcohol, marijuana, opiates and provide them with hotels to stay in to use said drugs.
Way to go guys....way to go.
2022.... then 2024 I hope we change every damn rule, law in the land to make sure the SOCIALIST PARTY never sees power again.
What were the long term costs of not stimulating the economy enough after the Great Recession?
How does the cost of this stimulus compare to the risk of doing too little as we emerge from COVID?
If the economy comes roaring back quickly will you still be on here decrying what the left has 'done to us today'' or will you be screaming and shaking your fist at the sky about whatever new SOCIALIST PARTY affront you're furious about that day?
CIv, the latest "Covid relief bill" is a massive boondoggle no matter how you slice it. I'm sorry but comparing this to the great recession just does not work. If we had passed nothing, the economy would still come "roaring back" in a few months when vaccines have been given to most Americans. Some parts of the bill may add some fuel, but most of the effect was already going to be there.
Certain things in this were good, or partially good. Unemployment benefits, PPP payments, aid for bars and restaurants, etc. I can quibble with details around this, but they are largely needed. However this covers less than 25% of the total cost.
Other items are largely a massively inefficient use of government spending. I'll summarize a few of the major points.
First, direct stimulus payments. Most Americans have kept their job this entire pandemic, with the job losses being heavily skewed towards low paid service employees. However those low paid workers have already been made whole (often more than that) by the unemployment extensions. There are people who have lost income, not made whole by unemployment, but this is a fairly small minority who could be targeted much better than sending checks to 90% of households.
The economist's argument for stimulus is that when there is not enough capital to satisfy pent up demand, additional capital can spur consumer spending and lead to a multiplier effect throughout the economy. But we largely do not have a capital problem. In 2020, Americans saved more money than ever before and reduced debt levels to record lows. They had money (yes supplemented by previous stimulus), but what they didn't have was something to spend it on. The lockdowns and fear of covid are what is currently suppressing demand. When we are able to vaccinate everyone who wants one, you will see a surge in spending that would have happened regardless of this round of stimulus.
Next, $350 billion went to state and local governments with another $100 billion+ to various government organizations like local public transit. This was completely unnecessary. Only half the states are even facing deficits right now. Many haven't spend funds previously allocated from prior rounds of covid relief.
Then $130 billion to K-12 schools, regardless of if they use the money to reopen. Most of the money won't even be disbursed this year, so saying it related to Covid just doens't hold water. This part of the bill was an olive branch to teacher's unions.
Finally, the rest of the bill is a large pile of steaming special interests. I won't get into every detail, but there is so much pork here. $75 billion goes to shoring up pension funds that were asking for a bailout pre-covid. We have pet infrastructure projects for CA and NY.
