- Jun 6, 2007
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At the Press Conference today President Trump says he would love to do a Two Trillion Dollar Infrastructure Spending bill because it's the ideal time because the interest rates are near zero. Could he please spare the American people of this behavior where he acts like a complete idiot such legislation would significantly hurt the country's finances which are already in shambles with a twenty-three trillion dollar national debt. Doesn't the President know Economics 101, the Treasury already has a tough time selling long term debt because interest rates are inordinately low its foolish for most investors to tie up their money with such bonds. The Federal Reserve Board has driven interest rates down to almost zero but that is not good in any stretch of the imagination for anything but this emergency time because these interest rates inflate the price of assets in our society and when the bubble pop a lot of ordinary people get hurt and even before the pop ordinary people will be getting significantly hurt; for instance, the super low interest rates will inordinately increase the price of homes (real estate) {low interest rates give buyers more buying power so they bid up home prices) resulting in many Americans being priced out of being able to buy a home, an awesome way for American families to build wealth and build good retirement nest eggs.
Mr. President the American people and mostly it's future generations will not be paying for you infrastructure shopping spree with a near zero interest rate but with a much higher one. Moreover, if Washington passes a two trillion dollar infrastructure bill even a one trillion dollar bill it is going to be over paying for infrastructure projects like one cannot believe because the country has a limited number of companies that can do the work and it is not as if its easy for bridge, rail and road construction companies to come into existence - you need a lot of specialized knowledge and capital.
I cannot believe the President is talking about trying to pass an extravagant spending bill when he did such a terrible job negotiating the last Corona-virus Recovery bill. If he wasn't so manic about keeping his mug in front of the cameras at the daily press conference over the corona-virus he would have had time to negotiate a stimulus bill which didn't screw the American Small Business owners and screw it definitely did by throwing them a life-line secured with string that bakeries use to secure their packaging boxes and will break for many of them. If he was on the job he could have negotiated a bill that gave small business loans for three months of their wage costs not two, in two months from when authorities give the all clear to re- open the economy the economy will still look like it is in slow motion. If he was on the job he could have negotiated a bill that gave the loan forgiveness feature to all the loans that the Small Business Administration will be extending to small business not just a select category that maximizes out at one million dollars there is so many more small businesses across America that have a bigger two month payroll than that figure. If he was on the job he could have negotiated a further helping hand to the many small businesses that don't have a significant cash cushion who will be fighting to survive over the next year by giving a second means of having loan forgiveness which would involve for the balance of the loan that is not forgiven on the bill's first test (the average percentage of workers brought back over two months) allow loan forgiveness against this balance for the business' cash flow losses for 2020 and 2021 (cannot apply paper losses like depreciation and amortization and have the criteria which excludes portions of salaries that are in the high range)! What kind of people want a beautiful new bridge into a city where many of the residents have had their lives blown apart by this corona-virus which took their small business or their small business employer!
Mr. President the American people and mostly it's future generations will not be paying for you infrastructure shopping spree with a near zero interest rate but with a much higher one. Moreover, if Washington passes a two trillion dollar infrastructure bill even a one trillion dollar bill it is going to be over paying for infrastructure projects like one cannot believe because the country has a limited number of companies that can do the work and it is not as if its easy for bridge, rail and road construction companies to come into existence - you need a lot of specialized knowledge and capital.
I cannot believe the President is talking about trying to pass an extravagant spending bill when he did such a terrible job negotiating the last Corona-virus Recovery bill. If he wasn't so manic about keeping his mug in front of the cameras at the daily press conference over the corona-virus he would have had time to negotiate a stimulus bill which didn't screw the American Small Business owners and screw it definitely did by throwing them a life-line secured with string that bakeries use to secure their packaging boxes and will break for many of them. If he was on the job he could have negotiated a bill that gave small business loans for three months of their wage costs not two, in two months from when authorities give the all clear to re- open the economy the economy will still look like it is in slow motion. If he was on the job he could have negotiated a bill that gave the loan forgiveness feature to all the loans that the Small Business Administration will be extending to small business not just a select category that maximizes out at one million dollars there is so many more small businesses across America that have a bigger two month payroll than that figure. If he was on the job he could have negotiated a further helping hand to the many small businesses that don't have a significant cash cushion who will be fighting to survive over the next year by giving a second means of having loan forgiveness which would involve for the balance of the loan that is not forgiven on the bill's first test (the average percentage of workers brought back over two months) allow loan forgiveness against this balance for the business' cash flow losses for 2020 and 2021 (cannot apply paper losses like depreciation and amortization and have the criteria which excludes portions of salaries that are in the high range)! What kind of people want a beautiful new bridge into a city where many of the residents have had their lives blown apart by this corona-virus which took their small business or their small business employer!
