Will Optimal Policy Prevail With The Next Relief Bill!

JimofPennsylvan

Platinum Member
Jun 6, 2007
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Although the next Coronavirus relief bill taking form in Washington will be helpful to America from the harm caused by the Covid 19 pandemic, the effort has a lot of shortcomings. The Republican bill is woefully short in not trying to cover a sizable portion of the tax revenue loss from the pandemic for states and counties across America; if the Federal government does not come thru in a big way in this area America is going to see these municipalities lay off people in the hundreds of thousands range which will significantly add to the indefinite disintegrating economy currently unfolding on America. Just for the second quarter three of America's top tier banks increased their credit reserves by twenty-five billion dollars, Yelp has reported that it is their assessment that sixty-five thousand retail businesses across America closed for the pandemic will be permanently shuttered! The American people dropped the ball in getting control of this Covid 19 disease and threw away its chance of having a good economic recovery now the task for the country is to try to preserve as much of the economy as possible and not forcing states and counties to cut employees en masse to cover tax revenue shortfalls should be part of that effort!

Republicans are right on the policy that Washington should be using the power of its purse, heavy handedly, to do everything it can to reopen schools across America. The facts are shutting down schools is resulting in many children falling behind in their education. The facts are that shutting down schools will cause many children to have education shortfalls that will cause them to fail out in college and not be competitive in college and not get into graduate schools that can offer them prosperous careers; besides hurting them in the quality of college they get into and the financial assistance package they get. Washington needs to condition the financial aid for primary and secondary schools in the next relief bill that only schools that "re-open" get it. Washington can pass laws that says teachers that are afraid of Covid 19 can choose not to work and their job will be waiting for them when the pandemic is over Washington can pass laws that says parents that are afraid of Covid 19 can home school their children. Whatever Washington needs to do to reopen schools for the next eighteen months it must do suspend union teacher contracts outside of wages and benefits, allow school districts to open schools on Saturdays it needs to do because the futures of our children are at stake!

Washington is not being optimally prudent in resending Americans another $1200.00 check; however, they should do another round of checks of $500 per child for American families. The more important need for the country than stimulus checks is to have state's and major cities have programs to help people that cannot pay their rent or mortgages Washington should robustly fund these programs. Media reports have been that a lot of people took their first $1200 check and put it in a Robinhood Investment brokerage account and engaged in financial market speculation is this what members of Congressional want to be about other media reports are that a lot of Americans just saved the $1200, don't America's families have more urgent needs! Do members of Congress even care that a lot of Americans are in a predicament because of the pandemic where they don't have money to pay their housing costs and that the only thing standing between them losing their home is the moratorium on evictions and foreclosures and these government blocks will be lifted in the near future or already have been!
 
Democrats stop COVID relief that would have provided more paycheck protection funds and an additional $300/wk for the unemployed through Christmas.

While the GOP had 52 votes to the Dems 47 they needed 60 to break the Dems filibuster.

The Hill reported:

Senate Democrats blocked a coronavirus bill on Thursday.
 
$600 in extra UI benefits was like getting paid an extra $15 per hour to not work. As a result, most people have financially benefited from the panDemic.

No wonder the "unemployment" rate skyrocketed. It's time to go back to work
 
$600 in extra UI benefits was like getting paid an extra $15 per hour to not work. As a result, most people have financially benefited from the panDemic.

No wonder the "unemployment" rate skyrocketed. It's time to go back to work
It certainly helps that Households in the Trump Strong Economy went into this challenge in the best shape ever recorded. That's part of why were powering out of sharpest contraction ever recorded in such an amazing manner.

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Atlanta Fed has raised it's nowcast for current GDP to 30.8%! The Midline of the Blue Chip Consensus is at about 22% annualized GDP growth for the current quarter. Either number is just smoking hot.

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We continue to see a just incredible performance from the American People.
 

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