Dem Congressman say's Pelosi 'making a mistake' by not taking Trump's $1.9 trillion stimulus deal

[White 6]

A trillion here, a trillion there, pretty soon, you're talking about some real money.


Democratic Congressman Says Pelosi 'Making a Mistake' by Not Taking Trump's $1.9 Trillion Stimulus Deal


Representative Max Rose, a New York Democrat, criticized Speaker of the House Nancy Pelosi on Tuesday, arguing that she was "making a mistake" by not accepting the White House's latest $1.9 trillion COVID-19 stimulus deal.

Democratic Congressman Says Pelosi 'Making a Mistake' by Not Taking Trump's $1.9 Trillion Stimulus Deal

I got to admit, I am at a loss on this stimulus thing. I cannot say who should be offering or who should be accepting or why. I absolutely cannot wrap my head around a number as big as 1,900,000,000,000. I believe last year GDP was around 21.427 Trillion (notice I didn't bother to type that out long hand). The numbers are too big. Maybe I lack imagination. I am insulated from direct effects of the economy, as I planned to be. Had more skin in the game when Bush economy crashed after the party.
Have not seen what they plan to spending it on or who they plan to give it to. A lot of people to dip a finger into a pie that large. I don't know whether helping the people damaged or just further slopping the hogs at the trough. They discuss this crap daily and I say, oh, that's interesting, hope they get it figured out. They will get something figured out. Like anything talking about spending that much, I am sure there will be crap I do not like and regard as irresponsible, yet will be hailed as a victory by both sides. I like win/win solutions for the sides in contention, but they often do not address that when all is said and done, they will probably piss off a lot of the stake holders that sit and say Oh, that's nice, with no idea what is in the bill until it comes out or is put into 3 or 4 hundred pages of Washington speak.
I got no idea where this rambling BS post is going except to say, I realize something probably needs to be done, don't know what (economically), hope they get it right, but figure the Democrats and the Republicans will work together to FK it up massively for what they perceive as political benefit and the benefit of their special interests, more than any thing else.

I understand what youre saying.
Though the numbers say one thing (debt) while Trump was in office this first term, the fact is, he's had a plan he was working on to start eliminating our debt. All these deals he made (especially China) were going to start reducing the debt in time.
This is one of the main reasons that the China virus hits on purpose and of course we have to spend more.
Trump has stopped most of the finacial bleeding and if the China virus hadnt been released on the world, we were going to be finacialy heading in the right direction once the money started fully flowing in, as the results from all these deals.
This is why I believe Trump will make China pay for what they did.
I bet a dollar to a dog biscuit, that Trump left us an out with the contractual deal he made with China, so that Trump will renegotiate next term, and Trump will be holding leverage against China.
I believe we will be doing just fine in time, as we begin to rebuild our own great country.

Hasn't actually stopped much of the bleeding, as a matter of fact has been adding to the national debt at about the same rate as Obama did or more, digging out after the Bush crash. Difference is, the economy was stablilzed and growing when he turned it over, so until Covid, trump was blowing money and raising debt during solid GDP years instead of paying as he went. This is born out looking at US National Debt by Year – Polidiotic a site that tracks national debt from the beginning of the country.
As for the deal with the Chinese, that set targets of what China would spend, they have been missing their committments by 28-40% as the balance of trade has continued to flow in their favor. They are not even living up to the agricultural targets that were supposed to bring relief to American farmers after Trump destroyed their markets with tariffs on incoming goods that you and I pay (not China) and China cut American agriculture in return on the trump tariff war. Once buyers leave a supplier for greener pastures it is hard to get them back, as new commitments are made and built on with new suppliers in the intervening time.
This Covid thing is an economic ball buster. Still do not know what the economic effect of the upcoming stimulus. Can't say I know the economic effects of the last stimuli, much less the one to come. Suspect the Dems will have to stabilize the economy again, like after Bush, but like Don says, "It is what it is". They will most likely do it like they did last time in true Keynesian fashon (since supply side econ does seem to help main street), they will continue to run the presses with the support of the Fed. Have nothing against the Dems in general, (economically) but do wish some Dem besides Nancy was in charge of the House, as Califonia big spending makes me a bit queasy. Republicans beat up on the Dems for the last 4 to 8 years over the slow growth recovery. I hope this is another slow growth recovery (low on inflation) as that is best for stability of the economy and my personal outlook included.

I have a lot to learn about what deals have been made, what is projected to come in from these deals, regardless of, and in respect to, spending and GDP.
With all due respect, I have complete confidence that with Trumps experience in the financial world, combined with people like Steve Manucian, Larry Kudlow, other economic advisors, and their entire staff, will far outweigh the opinions projected on this forum.

Hope you are right, but seems optimistic, especially with him on the way out.