Alarm bells sound over historic deficit spending, as coronavirus bills could near $5T

[Natural Citizen]

Another day in the neighborhood. Similar to the days when the Soviets bankrupted themselves.

Anyway....

The $5 trillion number, adjusted for inflation, would also be more than five times the amount spent on the entire New Deal in the 1930s and just under three times the total cost of the Temporary Asset Relief Program (TARP) and the American Recovery and Reinvestment Act (ARRA) combined -- the two pieces of legislation enacted by the Bush and Obama administrations to pull the U.S. out of the 2008 Great Recession.

The counter-coronavirus spending is being done in a bipartisan manner with overwhelming support as few on either side of the aisle have brought up the potential fiscal impacts of the expenditures, despite the fact conservatives decried TARP and ARRA as wildly irresponsible deficit spending just a decade ago.

Trump has expressed a desire for the government to OK another $2 trillion for coronavirus relief, focused on infrastructure.

That means the federal government's total spending on its coronavirus response could reach $4.9 trillion.

The federal government spent $4.45 trillion in all during 2019. Another $5 trillion would be more than 20 percent of the total national debt, which is just over $24 trillion.

Continued...

Alarm bells sound over historic deficit spending, as coronavirus bills could near $5T

The U.S. government is poised to spend an unprecedented sum of money on its response to the coronavirus crisis, with a potential final price tag of nearly $5 trillion if lawmakers get the full extent of what they're seeking in as many as five separate bills.

www.foxnews.com

 

[Sun Devil 92]

We only had to do this because our fucked up "experts" demanded we put the country on lockdown.

This is what you get when you don't stop and think about what the hell you are doing.

 

[Dont Taz Me Bro]

Unfortunately, I'm not hearing many alarm bells at all

 

[bluzman61]

Unfortunately, I'm not hearing many alarm bells at all

I'm hearing NONE at all, just the bray of liberal jackasses.....

 

[C_Clayton_Jones]

Clearly the notion that Republicans are ‘fiscal conservatives’ and ‘fiscally responsible’ is forever dead and gone.

 

[C_Clayton_Jones]

“Trump has expressed a desire for the government to OK another $2 trillion…” ibid

But Trump was elected to end ‘business as usual’ in government.

 

[Sun Devil 92]

Unfortunately, I'm not hearing many alarm bells at all

Clearly the notion that Republicans are ‘fiscal conservatives’ and ‘fiscally responsible’ is forever dead and gone.

On that point you are correct (you get the broken clock award).

GWB and his drunken congress proved that.

 

[Sun Devil 92]

“Trump has expressed a desire for the government to OK another $2 trillion…” ibid

But Trump was elected to end ‘business as usual’ in government.

Can't help that we listened to a load of bullshit artists who insisted we shut down the country.

 

[toobfreak]

Unfortunately, I'm not hearing many alarm bells at all

You should be. There can be no justification at this point for the USA spending even a trillion dollars much less 2 or 5! We should be cutting spending at all costs. "Saving lives" is not even a justification, because in the end, spending this money is going to bury us all. But sadly, I think it is literal political suicide right now for anyone to even suggest we NOT spend this money (which we don't even have!)

Our only real choice in the Corona matter was to simply let the virus run its course and take our lumps until we can concoct a vaccine for it and move on. INFINITELY better to the decision to "save us" by freezing and locking down the nation and the world.

Do you know the other day I couldn't even get the telephone company to fix their own telephone equipment that I paid them for?! They were prepared to leave me with no contact with the outside world for up to MONTHS and left it up to me to FIX IT MYSELF rather than simply put on a tyvek suit, gloves and a mask to deal with the "bio-hazard" of entering my Covid-free home to deal with the 1:10,000 chance they'd pick up a virus. Couldn't even loan me the tools.

 

[Chuz Life]

Clearly the notion that Republicans are ‘fiscal conservatives’ and ‘fiscally responsible’ is forever dead and gone.

Tell me that story about how you leftardz care about the basic human rights of the weakest, most defenseless human beings. . . but not for the most basic human beings of all.

That one never gets old.

 

[keepitreal]

Another day in the neighborhood. Similar to the days when the Soviets bankrupted themselves.

Anyway....

The $5 trillion number, adjusted for inflation, would also be more than five times the amount spent on the entire New Deal in the 1930s and just under three times the total cost of the Temporary Asset Relief Program (TARP) and the American Recovery and Reinvestment Act (ARRA) combined -- the two pieces of legislation enacted by the Bush and Obama administrations to pull the U.S. out of the 2008 Great Recession.

The counter-coronavirus spending is being done in a bipartisan manner with overwhelming support as few on either side of the aisle have brought up the potential fiscal impacts of the expenditures, despite the fact conservatives decried TARP and ARRA as wildly irresponsible deficit spending just a decade ago.

Trump has expressed a desire for the government to OK another $2 trillion for coronavirus relief, focused on infrastructure.

That means the federal government's total spending on its coronavirus response could reach $4.9 trillion.

The federal government spent $4.45 trillion in all during 2019. Another $5 trillion would be more than 20 percent of the total national debt, which is just over $24 trillion.

Continued...

Alarm bells sound over historic deficit spending, as coronavirus bills could near $5T

The U.S. government is poised to spend an unprecedented sum of money on its response to the coronavirus crisis, with a potential final price tag of nearly $5 trillion if lawmakers get the full extent of what they're seeking in as many as five separate bills.

www.foxnews.com

Sorry, the bailout of 2008 cost us $29 TRILLION DOLLARS

Alarm bells weren't going off then

 

[bluzman61]

Another day in the neighborhood. Similar to the days when the Soviets bankrupted themselves.

Anyway....

The $5 trillion number, adjusted for inflation, would also be more than five times the amount spent on the entire New Deal in the 1930s and just under three times the total cost of the Temporary Asset Relief Program (TARP) and the American Recovery and Reinvestment Act (ARRA) combined -- the two pieces of legislation enacted by the Bush and Obama administrations to pull the U.S. out of the 2008 Great Recession.

The counter-coronavirus spending is being done in a bipartisan manner with overwhelming support as few on either side of the aisle have brought up the potential fiscal impacts of the expenditures, despite the fact conservatives decried TARP and ARRA as wildly irresponsible deficit spending just a decade ago.

Trump has expressed a desire for the government to OK another $2 trillion for coronavirus relief, focused on infrastructure.

That means the federal government's total spending on its coronavirus response could reach $4.9 trillion.

The federal government spent $4.45 trillion in all during 2019. Another $5 trillion would be more than 20 percent of the total national debt, which is just over $24 trillion.

Continued...

Alarm bells sound over historic deficit spending, as coronavirus bills could near $5T

The U.S. government is poised to spend an unprecedented sum of money on its response to the coronavirus crisis, with a potential final price tag of nearly $5 trillion if lawmakers get the full extent of what they're seeking in as many as five separate bills.

www.foxnews.com

Sorry, the bailout of 2008 cost us $29 TRILLION DOLLARS

Alarm bells weren't going off then

And correct me if I'm wrong, 29 trillion is a bit more than 5 trillion, isn't it? These liberal lunatics will find something/anything to put down our country or our president. Simply appalling.

 

[keepitreal]

Unfortunately, I'm not hearing many alarm bells at all

You should be. There can be no justification at this point for the USA spending even a trillion dollars much less 2 or 5! We should be cutting spending at all costs. "Saving lives" is not even a justification, because in the end, spending this money is going to bury us all. But sadly, I think it is literal political suicide right now for anyone to even suggest we NOT spend this money (which we don't even have!)

Our only real choice in the Corona matter was to simply let the virus run its course and take our lumps until we can concoct a vaccine for it and move on. INFINITELY better to the decision to "save us" by freezing and locking down the nation and the world.

Do you know the other day I couldn't even get the telephone company to fix their own telephone equipment that I paid them for?! They were prepared to leave me with no contact with the outside world for up to MONTHS and left it up to me to FIX IT MYSELF rather than simply put on a tyvek suit, gloves and a mask to deal with the "bio-hazard" of entering my Covid-free home to deal with the 1:10,000 chance they'd pick up a virus. Couldn't even loan me the tools.

O
M
G

THERE IS NO 'MONEY'...IT'S A FACADE

ENJOY WHAT YOU CAN WHILE YOU STILL CAN

 

[rightwinger]

Deficits don’t matter......

Unless a Democrat is President

 

[mdk]

Who cares? It’s not like we are going to have to foot the bill for it. Just pass it along to our descendants.

 

[danielpalos]

We need to solve simple poverty and increase the minimum wage until even the Poor help pay for their Government services.