Coronavirus

Lawmakers, White House Finalize $2 Trillion Coronavirus Stimulus: 'The Largest Main Street Financial Package' in U.S. History

The package doubled in cost over the course of the negotiations.

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The Senate and the White House struck a deal early Wednesday morning on a final coronavirus stimulus package, which will attempt to resuscitate an economy devastated by fears around the spread of COVID-19.

The bill will cost $2 trillion—double the price of the first stimulus draft—with an additional $4 trillion set aside for Federal Reserve lending power. It is the "largest main street financial package in the history of the United States," said Larry Kudlow, director of the National Economic Council, at a press briefing.

Among the plan's primary provisions are $500 billion in loan guarantees for corporations, $367 billion in loan assistance to small businesses, $130 billion for hospitals, $150 billion for state and local stabilization funds, $200 billion for "domestic priorities" like childcare, seniors, and transportation, a large expansion of unemployment insurance, as well as a $250 billion fund to make direct payments to some Americans. 

The direct payment portion means a check will be sent to every individual whose income falls below $99,000 and to every married couple who takes home less than a combined $198,000. Payments will amount to $1,200 for individuals who make under $75,000, with that benefit gradually phasing out as incomes rise above that threshold. Parents can also claim an additional $500 per child.

Republicans initially required that such payments be phased in from the bottom, as well: Those with little to no income tax would have received $600, and those who made less than $2,500 would have received nothing whatsoever—a detail that drew broadsides from both sides of the aisle. That component was eliminated from the final bill; anyone who makes under $75,000 (for single individuals) will now receive the same amount.

Payments will be based on 2020 earnings, a change from the originally-stipulated and much-criticized provision that they turn on an individual's 2018 tax filing. The Treasury Department will instead calculate each check using 2018 or 2019's tax return (if 2019 has already been filed) but will reconcile the payment later with any adjustments in income after reviewing 2020 filings.

Although the compromise is a bipartisan one, the fact that it's means-tested will raise eyebrows, particularly when considering that an individual's steady income in 2018 or 2019 does not necessarily relate to how he or she has been impacted by COVID-19. A restaurant owner who made six figures in previous years, for instance, stands to receive no immediate aid in this case, even if his or her business has been decimated by the coronavirus. That doesn't do him or her much good in the near-term, nor does it make up for the fact that government-enforced social isolation measures have prevented or severely limited businesses from serving their patrons.

"Americans need fast, direct relief. Start getting monthly checks to people now," argued Justin Amash (I–Mich.) yesterday. The libertarian-leaning congressman proposed eliminating the means-testing in favor of a temporary universal income, after which Congress could "consider recouping payments made to high-income households."

The final stimulus ballooned in cost over a week of negotiations as both sides sought to insert additional funding for their desired provisions. In the first three stimulus drafts, the corporate loan guarantees—which the federal government must recoup if businesses aren't able to repay their debts—amounted to $208 billion. In the final version, that number had grown to $500 billion.

Overseeing that loan program will be Treasury Secretary Steve Mnuchin, who will have broad power over which corporations receive money. Though Democrats were successful in mandating that an independent inspector general and an oversight board review those lending choices, the overall program expanded far beyond its original scope, more than doubling in cost. Critics rightly reduced it to a corporate slush fund: The federal government will wield great discretion in carefully selecting the businesses that survive coronavirus—a queasy example of corporate welfare.

"The Senate bill put corporations first," House Speaker Nancy Pelosi (D–Calif.) said Monday in a Facebook livestream as she railed against the corporate loan guarantees. "They must move closer to [our version]."

But Pelosi's stimulus bill, which she released Monday, included quite a few slush funds of her own—in the form of expensive demands that had little or no relationship to COVID-19. Pelosi's iteration bailed out the post office to the tune of $20 billion. It carved out grants for election audits and required early voting and same-day voter registration. It ordered the airlines to fully offset their carbon emissions. It mandated that corporations receiving aid pay workers a $15 minimum wage and establish corporate board diversity. It allocated $100 million for the Legal Services Corporation and set aside $35 million for the John F. Kennedy Center for the Performing Arts.

Those requests transparently resembled left-leaning policy goals rather than coronavirus-response measures. That may not surprise those who read Pelosi's earlier coronavirus aid package, which attempted to enshrine into law a permanent paid leave program, including for victims of stalking.

It was also not lost on Republican lawmakers. 

"We've got families that are suffering," said Sen. Ben Sasse (R–Neb.) on the Senate floor Monday. "We've got small businesses that are closing literally by the hour. We have doctors fighting to prevent their hospitals from being overwhelmed. And what does Speaker Pelosi try to do? She's trying to take hostages about her dream legislation, all sorts of dream legislative provisions that have nothing to do with this moment."

While Pelosi failed to push most of those dream measures through, she successfully lobbied for increased unemployment insurance eligibility, with recipients taking home an additional $600 per week for the next four months on top of state sums. She also pushed for bolstered hospital financial support and for the stabilization fund, which will address cash shortages in states and localities.

The $367 billion small business provision—a rare area of stimulus bipartisanship—grew by $17 billion from recent discussions in order to pave the way for a six-month loan forbearance period, according to Sen. Marco Rubio (R–Fla.). Businesses will be eligible for a loan that is 250 percent the size of their payroll.

A final vote in Congress is expected later today. 

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  1. Let’s print a bunch of money and lower the value of the dollar! That’ll help people out!

    1. But the dollar is still strong relative to other places. That and inflation will tell the story on whether your concerns are real

      1. Try buying something at Safeway with a Euro, idiot.

    2. Saving is for cucks.

      1. It really is. I mean sure, the interest rate is less than the inflation rate. But hey the government still taxes you on all of that interest income. I mean why don’t Americans save more. They mystery continues.

        Who doesn’t want to pay taxes for the privilege of loaning the bank money?

        1. I could coast for half a year if I had to. I polled my friends and very few of them could survive without a paycheck for more than a month.

          1. Hoarder! How can you hoard all those dollars when your neighbors are dying?

            1. Honestly, my neighbors are mostly spendthrifts. They can find sympathy in the dictionary between shit and syphilis.

              But if things get tough I’ll use my culinary skills to keep them fed. I’d rather feed them after inviting them into my home than shoot them for climbing through my window.

      2. Yep, only those euro cucks in Germany care about things like saving money and not running massive deficits. Murica baby these colors don’t run!

    3. I have not touched it all day, and I just felt my wallet get lighter.

      1. Yep, we’re getting mugged

        Government is nothing more than a giant switchblade and mask, and all in government and all of their cronies are nothing more than muggers. Government was devised as a bandit’s weapon and disguise and that is all that it ever can be.

  2. Nevada Governor bans the use of Choloroquine to fight the Chinese flu. As an aside to this, note the Rasmussen Tweet calling out the various idiots who tried to blame Trump for the guy drinking aquarium cleaner. One of said idiots is none other than Reason Board member Ken Dopehat White. God what a lowlife White is. The flip side is that his act seems to have worn thin with a lot of people. This is the first time I have heard him or his dopehat account mentioned in months.

    https://amgreatness.com/2020/03/24/nevada-governor-bans-use-of-promising-drug-chloroquine-to-fight-coronavirus/

    1. Trump’s reelection is really going to hit those people hard.

      1. Good. Maybe they’ll finally follow through on their “threat” to leave America.

        1. Ever the optimist, ay? I kept a list on my office wall for a year or so of those who swore they would, and not one miserable fucker did.

    2. It’s Trump’s fault the stupid guy couldn’t read a dosing schedule from drugs.com or the Merck Index online? Dumb people have been poisoning themselves with folk remedies ‘they remember from somewhere’ since the beginning of time.

      I used to really like reading Popehat too. Sigh. I don’t know what it is about Trump that causes so many people, smarter and more accomplished that I am, to absolutely and completely lose all rationality when talking about him.

      1. “I don’t know what it is about Trump that causes so many people, smarter and more accomplished that I am, to absolutely and completely lose all rationality when talking about him.”

        Those people know they are smarter than you and smarter than trump and refuse to admit they might be wrong.

        1. Those people know they are smarter than you and smarter than trump and refuse to admit they might be wrong.

          Exactly this. And I think a lot of that comes down to basic jealousy.

          If you look at it, most career politicians are really pathetic, degraded people. They got into politics and stayed there because there’s really nothing else they’re good at in life and if they lost their jobs they’d struggle to find anything to do unless a lobbying firm or media outlet hired them. That’s why they grovel and plead and the worst thing to them is the thought they might lose their job and their relevance. And on some level all voters realize this, and it enables them to look down on those politicians.

          But you don’t really have that with Trump. He’s a guy who’s had a wildly successful life by any objective standard. Billionaire, dated models, successfully ran a real estate empire for four decades, degrees from prestigious universities, cultural icon, produced and starred in a hit television show for a decade, won the presidency on his first attempt at elected office against overwhelming opposition…if someone were to write a book with that as a character, nobody would be able to suspend their disbelief and they’d call the character a “Mary Sue” (rightfully so).

          And people hate him for that because they find him personally abrasive and so they’re not willingly to begrudge him his success. And career politicians especially hate him because he highlights all the things they’re not, and he has no problem with pointing their flaws out when they pick fights with him. I think, at its core, TDS is really just about basic jealousy and spite.

          1. You sound like you’ve got a *crush* on Trump.

            Trump and H.S. sitting in a tree
            Kay eye ess ess eye en gee.

            1. What are you 12?

            2. Fuck off Sqrlsy.

      2. To go along with what Jesse said, I think that people like Dopehat were never that smart or accomplished in the first place. They were mostly self promoters and grifters whose main claim to fame was status and membership in the media club that gave them a platform. Ken White is a former US attorney work a day attorney in Los Angeles. He isn’t a federal judge or some big wig in a giant law firm pulling in 8 million a year or even a professor. White loves to gloat about his going to Harvard but his Harvard degree actually reflects poorly on him in that his accomplishments are pretty meager given the opportunities afforded someone with a Harvard degree.

        1. There is an observable fact that high intelligence is not required to be a member of the intellectual class. Especially the ones whose job is just to opine on current events.

          1. The other observable fact is that no one who is an expert or successful in a field has any interest or time to be in the media pontificating about it.

            I first realized this when I joined the Army and got to know a few people who were in the Special Forces. The Special Forces are a really small fraternity. Everyone in them either knows or has heard of about everyone else. And there would be some “ex Green Beret” or whatever on TV giving their expert opinion on something and none of the guys I knew in the special forces had ever heard of the guy. And that seems to be true of every other “expert” who is seen on TV.

            If you really are an expert and successful in a field, whether it be the military or law or science or anything else, you go and do it. You don’t waste your time pontificating in the media. So the people who do do that are not experts or particularly successful in their fields, otherwise they wouldn’t be in the media.

            1. “Foolish names and foolish faces often appear in public places.”

            2. Case in point: Andrew Napolitano. He occasionally raises a good or sometimes even great point, but he’s even more likely to just spout something so utterly and ridiculously false that it horrifies me the guy was ever a judge.

          2. Irrelevant, bigoted slack jawed liberals are quickly being replaced by their betters, who have the common sense to understand that a dude ain’t a chick just cuz he says he is.

        2. Well, for one, BigLaw partners don’t have the time to blog all day… And show me the Harvard grad that doesn’t manage to mix that into the conversation within the first five minutes of talking to them.

          I found his blog informative in the past. It may be an example of vos Savant’s maxim that, “A genius is someone who knows five percent more than you do about something,’ but I liked reading him on white collar Federal practice, copyright, and First Amendment issues. Haven’t read him in awhile though.

          1. Before Trump, I soured on him over his pushing of libel law reform. White makes it sound like the only people who have to worry about being sued for libel are little old ladies who stand up to big mean politicians who then bring frivolous libel suits against them.

            No, the people most concerned about libel laws are the media. And the media are the ones who produce the vast majority of slander in this country. Now maybe all of White’s clients in LA are little old ladies being sued for calling the local zoning commissioners mean things, but I doubt it. I bet most of his paying clients are media companies who want a bigger license to lie than they already have. And White goes out and shills for them in the name of the 1st Amendment. That is his right to do so. I just wish he wouldn’t be so dishonest about it and stop pretending he is protecting anyone’s interests but the media companies he no doubt represents.

            1. Great point. I wasn’t aware of his shilling.

    3. Maybe he meant to ban the aquarium-cleaner, and not the malaria drug?

      P.S. Does a governor have any legally permitted ability to unilaterally ban a drug? It doesn’t sound like there was any legislation behind this. Even if there were, wouldn’t the FDA has jurisdiction, don’t they? Could another state ban an approved chemotherapy treatment, for instance?

      1. I do not think he does. If there is one field that has been occupied by the Feds, it is drug regulation. There are no state FDAs as far as I know. It is not my field. So, maybe I am missing something. But, if state governors have the authority to regulate the use of drugs over and above the FDA, I would sure like to hear about it.

        1. Aren’t doctors board certified by the state? If so I am sure the NV govt could go after the doctor’s license. Not sure on the specific of whether the NV constitution grants any such power unilaterally to governor though.

          1. They could but that would never fly in court. You can’t take a doctor’s license as a back door way to overcome federal supremacy.

      2. That is not enough! The current fatality rate from drinking fish tank cleaner is now 50%! We must immediately ban all fish, tanks, and cleaners. And quarantine anyone who has been in contact with any fish tanks or pet stores, or watched Finding Nemo, Moby Dick, or Jaws.

        Am I doing it right?

        1. If banning fish tank cleaner saves even one life………..

      3. It was done at the request of the state pharmacy board to preserve the supply for those who depend on the medication.

        People already are unable to refill their prescription.

    4. I knew that the engineered and opportunistic outrage at Trump for supporting the choloroquine cocktail was going to get people killed, and it looks like it’s going to be the people of Nevada.

  3. https://freebeacon.com/latest-news/harvard-not-paying-all-workers-during-coronavirus-shutdown-despite-40-9b-endowment/

    Harvard and its $40 billion endowment lays off its kitchen staff. Their right to do that of course. But explain to me why these hives of scum and villainy like Harvard are not taxed and treated as “nonprofit”?

    1. I’m sure their faculty won’t stand for that. I hear they have some really great leaders on their faculty. Leaders that stand for the common man.

      1. I am sure all of their woke, snowflake students who care so much for the common man are going to be up in arms about this, right? They should tax the place into bankruptcy and use the campus for something more productive and respectable like a combination whorehouse and medical marijuana dispensary.

        1. Let student loans be dischargable in bankruptcy, without requiring a limb to be chopped off or the equivalent. Allow the creditors to try and claw back some of the funds from the educational institution.

          This problem solves itself. That it would also kick right in the nuts, one of the strongholds of left wing thinking and action in this country, is a nice bonus. No idea why the Republicans haven’t tried to do this. They’d get quite a few votes that otherwise belong to Bernie.

          1. I would even do one better. I would let the creditors be paid from a fund that is created by taxing the endowments of universities. The larger the endowment, the larger the tax. I mean we wouldn’t want to have a tax system that wasn’t progressive would we?

            Make them dischargeable in bankruptcy after 10 years and tax college endowments to make good on the government guarantees.

          2. Uh… we went in the other direction. They changed it so you couldn’t discharge a student loan. Why? Because nobody would make a student loan otherwise. People were racking up 6 figure debt and then declaring bankruptcy to dump it. Without federal guarantees, there was going to be no more student loan market.

            1. That is a legitimate concern. But that is why you make them dischargeable after 10 or maybe 15 years. By that time, the person likely will have enough wealth that declaring bankruptcy won’t be worth getting rid of the debt.

            2. No more student loan market would dramatically reduce the price of a college degree. And / or reduce the number of degrees.

              1. Yep, getting rid of grievance studies nationwide would be a big improvement.

            3. “People were racking up 6 figure debt and then declaring bankruptcy to dump it.”

              What was the actual incidence of people doing that? I know there were scare stories—usually about doctors doing it to skate on their med school bills—but how many people were actually doing that? Personal bankruptcy sucks to go through. Albeit a bit of the pain was from social stigma, and after the Boomers, we really don’t do social stigma anymore.

              Even if plenty of borrowers were doing that though, nothing prevented the lender from demanding additional security and/or raising the interest rate. Like they do for every other kind of loan. Instead, Uncle Sugar got involved, lenders got subsidized, and every thing else got fucked up about the process.

              1. Bankruptcy is a crappy deal. And it is only available if you really can’t pay your debts. If you have a job that covers your bill, the judge will not grant it to you. Also, judges won’t grant it if there is evidence of fraud. So, I don’t think quitting your job and moving home with your parents to get out of your debts would fly with many judges.

                I am with you. I think the instances of this were much rarer than claimed. The colleges, who in many cases make loans over and above the federal loans, and banks are just assholes who used a few horror stories as a way to make a portion of the public effectively into indentured servants.

              2. Yeah, that’s what’s known as bankruptcy fraud, and it’s prosecuted.

                I used to work as a debt collector after college, and ran into a few people who tried that scam. As soon as we caught onto it, we immediately filed suit and then contacted the D.A.’s office about it (and let the bankruptcy attorney know we’d done so). More often than not, as soon as they got our letter, the bankruptcy attorney urged them not to file, since he didn’t want to get in trouble along with his client and they started paying off the bills.

                I don’t think it’s as widespread as people claim, though. Most bankruptcies aren’t some elaborate dodge…they’re usually from legitimate financial crises that come up, like medical bills, a lawsuit, or just personal financial mismanagement.

                1. Or failed businesses. A lot of that came from failed businesses. And addiction issues. And divorce. To be honest, it was pretty horrifying and depressing what people would do to each other and themselves over money.

                  1. In the case of college, only half of people who attend get a degree.

                    So if you go to school to become a lawyer but don’t make it…. now you have to pay off a couple hundred grand from 7 years of school and you have maybe a bachelor’s degree…. So that 35k staff accounting job isn’t really gonna cut it.

                    But changing the loan subsidy system has meant that degrees are a lot more expensive, and they are also a lot more common, so the benefits the confer are lower than they once were. Not a good combo.

          3. Well, either that or make the students pay off their loans through indentured service, with years determined by their loan balance and the monetary value of the skills the education provided.

  4. So payments directly to people are 12.5% of the $2 trillion cronyvirus package

    1. That and the fact that it doesn’t bail out planned parenthood or do anything to appease the climate Gods dooms it to fail.

    2. I don’t think that’s true.

      Payments directly to people should be about 50% of the overall package it seems.

      These are basically payments to the low to middle income people regardless they lost their jobs or not.

      Higher income people will receive no funds regardless they lost their jobs or not.

      Sounds more like a class warfare than a rescue package IMO.

    3. Only if you don’t count the extra $4T for the banks.

  5. More money chasing less goods. I wonder what this could lead to.

    1. There was a time when I would have agreed with you about that. But after nearly 20 years of the fed printing money like it was going out of style and there still not being any inflation, I am afraid I am going to have to admit there is more going on here than I thought. What that is I don’t know. But clearly it isn’t as simple as what you and indeed I once thought it was.

      1. I cannot explain this at all. Trillions upon trillions of excess funds – between deficit spending and printing money. And nothing much in the way of inflation.

        And weird inflation. Cars are a lot nicer and a lot more expensive. But a 2 liter of soda can still be had for a buck – the same price it was in 1982.

        You can get a 65″ flat panel TV for less than the cost of a 25″ Sony CRT in 1985…. not adjusted dollars, real dollars.

        Gas jumped in price 20-some-odd years ago… and has remained mostly in the same range ever since.

        Sneakers are still in the same range they were in back in the late 90’s. There are a lot more luxury priced shoes on the market, but you can still get a nice pair for under $50 on sale.

        Bread has gone up… but not much. And now I have Aldi’s, where I can get a loaf of bread for a buck, and a box of fake cocoa crispies for a buck and a half. Less than the price of the real stuff 25 years ago.

        A light bulb costs a couple of bucks instead of 79 cents.. but it is an LED bulb that should last years instead of months, and is better on electricity costs. And how do you even quantify that in terms of “inflation” anyway?

        Meanwhile, health insurance has gone from what I thought was an exorbitant $450 per month for a family (employer and employee contributions combined) with no deductible and low copays some 20 years ago to a couple of thousand a month with a $10,000 deductible (or more).

        It all makes no sense. I don’t understand how you can expand the money supply by somewhere approaching 30 trillion dollars over the last 2 decades and not see some significant inflation.

        1. That makes two of us. I am willing to admit I am wrong about this. I thought we were going to get big inflation as a result of quantitative easing back under Bush II. But we never did. And I am at a complete loss to explain why.

          1. Wasn’t the quantitative easing just the government giving money to banks to give back to the government to claim they paid their debts when they never did. kind of some bizzar accounting laundering of money to keep the rich rich and banks afloat and raise the stock market with imaginary money

          2. It seems like inflating away the debt was a major part of the plan a decade ago. I think some economists are also pretty baffled by the lack of inflation. And maybe a little scared?

        2. I wonder how much of it could be attributed to efficiency.

          Things that cost consumers the same now as they did years ago could be being produced much more cheaply, but we don’t see it in the price.

          Just a thought.

          1. I can’t see how a good chunk of it isn’t the result of efficiency. The best explanation I can come up with is that we should have been in a huge era of deflation thanks to the increases in efficiency and instead have maintained stable prices thanks to the fed printing money.

            1. I think that’s what I said, or at least what I meant. Sometimes I have a hard time putting concepts into words.

              1. You said it perfectly. I was just agreeing with you. I hadn’t thought about it that way before but you are probably right.

                1. Thinking about it a little more, don’t services cost more than they used to? Services aren’t produced on an assembly line. Can’t automate the cost away. So it would make sense that the cost of services would rise with inflation, while the cost of goods that are being produced more efficiently would remain stagnant.

                  1. I think services are getting cheaper too. I know in law it is getting more efficient and the business model of the giant law firm billing huge numbers of hours for work done by lawyers that should be done by paralegals or even regular clerks is not what it once was. To the extent services haven’t gotten cheaper, it has been because professional guilds in law and medicine and such have kept the prices artificially high.

                    1. Completely off topic, here’s another tune I think you’ll like.

                  2. Stock prices increased 500%.

                    I don’t know about you, but for all the money the Fed was pumping into the economy via QE and lowering the interest rate, they never sent me a nickel of it, never sent me a pre-approved credit card with a teaser rate of 1% APR. I think the Fed’s economic stimulus benefits went straight to the banks and the banks sent it straight to Wall Street – there’s your inflation.

                    As I’ve said before, there have been people warning since last year that stocks were way over-priced and way over-due for a correction and people were aware since last fall that Warren Buffett was holding $100 billion + in cash.

                    Of course, inflation is simply defined as rising prices, and inflation is a bad thing but nobody considers rising stock prices to be bad news. Just the same as the real estate section in the AJC reports falling real estate prices as bad news and rising prices as good and I’m sure the Des Moine Register reports rising corn prices as good news and falling corn prices as bad, whether rising prices are good or bad news depends on whether you’re buying or selling, doesn’t it?

                    Look at it from Warren Buffett’s point of view – what’s the underlying value of the business, what are its assets worth and what are its prospects and what’s the ROI that makes this company worth investing in? If you’re only concerned about the stock price and not what’s driving the stock price, you’re not an investor, you’re a speculator and you’d do just as well to learn how to count cards and take your money to the blackjack tables in Vegas. Warren Buffett doesn’t gamble.

                    1. Very nice.

                    2. Yes, if you look around you see inflation everywhere that rich people spend their money. Land/rent, stock market, etc, all huge “gains”.

                    3. I tried that. Vegas is closed.

              2. Exactly. It should be getting easier to get by, but instead it takes more and more dollars.

          2. There has to be a lot of that.

            The supply chain has changed massively over the last 40 years. Walmart et. al. have killed the old model of layered distributorships and local shops. Amazon and others are carving out even more inefficiencies. And robotics and semiconductor style manufacturing have reduced the costs to make things in large quantities by several fold. Agriculture is much more efficient, transportation is better.

            Still…. is it possible to have squeezed that much more efficiency out of the system?

            Also, we are even more intimately tied to international currencies. The dollar should get hammered if everyone else isn’t printing money at similar rates.

            1. The dollar should get hammered if everyone else isn’t printing money at similar rates.

              I never would have thought of that. Very good point.

              1. Essentially, the US is the leper with the most fingers.

            2. Most goods are way cheaper in terms of number of work hours required to obtain.

              1. A fellow reader of cafeyhayek I see…

                1. My kingdom for an edit button!

                2. The first time I ran into this fact was by reading Matt Ridley’s “The Rational Optimist”…about 10 or so years ago.

                  1. Don references him a lot.

            3. “The dollar should get hammered if everyone else isn’t printing money at similar rates.”

              Does that change if we are the reserve currency that everyone else runs to when times are uncertain? I genuinely don’t know. I can see that our status incurs a lot of demand for USDs from foreigners, where if we weren’t the reserve currency, that demand might not exist.

              1. Could the world’s reserve currency be the whole point of CV?

        3. Fiddling with the CPI is part of it, along with one of Reason’s favorite expressions, ‘hedonic adjustment.’ But that only explains a little.

          I had thought most of the newly-created cash was sitting in banks’ reserves, due to modified insolvency regulations. If the banks can’t loan out the cash, it may as well not exist. But that can’t explain the seemingly inexhaustible appetite of the economy for QE either.

          Vastly increased foreign demand for the USD? Then wouldn’t we see some signs of inflation if foreign countries lowered their demand for dollars? Because of, say, a pandemic virus crushing worldwide consumer and capital activity?

          It is strange. And it is clear our economy is hooked on the shit. Can you imagine if interest rates rose, even to just Bush the Lesser levels?

        4. Gee, funny thing, Health Care/ Insurance, Education, Housing, climbing and climbing.

          All subsidized in one way or another.

          1. Those things, with the exception of housing, are also services, right?

            It’s much more difficult to automate or otherwise lower the cost of services compared to goods. So it would make sense that the cost of those things would rise.

            1. Explain to me how housing is not a service.

              You might think you’re actually buying something, but you’re not. When you buy something you own it and you can take it with you or do with it as you please and when people take it from you that’s called “theft” (or asset forfeiture, but I repeat myself). When you “buy” a house you are allowed to house a certain number of people in it and modify it in certain ways and you have to pay a fee to keep control of your property or else it is taken away from you. None of these rights are unlimited. Instead, they appear to be very similar to the rules regarding most rentals except instead of renting from a private owner you are renting from the government.

              Housing and property development in general is absolutely a service provided by the government and I defy anyone to convince me otherwise.

          2. Also factor in regulations like building codes and such. Try to build a home today to the standards of 1950 and you’ll be sent to prison.

            1. Very Good point. But I also think that since we subsidize the hell out of them, that is also inflationary. Education is the most obvious example.

            2. Kevin Williamson addressed this very thing about a week ago:

              https://www.nationalreview.com/magazine/2020/04/06/the-coronavirus-blizzard

              Third and fourth paragraphs. Needless to say it is not cheap or easy to build a house today.

        5. Somebody should cross-plot the inflation of specific goods and services against the degree of government and other bureaucratic involvement. Maybe TVs at one end of the scale and health care (and higher ed) at the other?

          1. You might find this interesting. He’s made quite a few posts on the topic. You can find more if you dig.

        6. I assume income/wealth ‘inequality’ eats up a lot of it…something i consider whenever people start railing against it.

          Print up a few trillion and give it to everyone…inflation.
          Print up a few trillion and have it end up in the hands of a few people who can’t possibly spend it all….low inflation…while a handful of people look ‘unfairly’ rich on paper.

        7. rillions upon trillions of excess funds – between deficit spending and printing money. And nothing much in the way of inflation.

          The money created is DEBT. At the front end – the ‘inflation’ end – it jacks up the prices of assets and the stuff bought with debt. At the back end – the debt-deflation end – it makes debt payments harder and harder and basically forces everyone to pay economic rent in the form of interest

        8. Just a note on cars. Cars have more features to them nowadays in a lower price range. Bluetooth, backup camera etc can all be had in a 18000 car. Hell you can get a mitsubushi mirage for like 12000 or less new. But those cars arent powerful or have the higher end features that the more exspensive ones do. Blind spot, self park, etc..

      2. That’s mostly because the money hasn’t actually entered circulation. It’s basically all M3.

        1. Yup. And some of it started leaking out in the form of mortgages, commercial lending, car loans, and whatnot, so inflation started creeping up in 2018-9.

    2. Just like inflation skyrockets when the minimum wage increases… Oh wait that doesn’t happen.

      1. Job losses help to offset that.

  6. Binion sure likes his stock footage of $100 bills. He used them for his last article on the stimulus too.

    1. At $2 trillion, I don’t think a stack of hundreds is gonna cut it. Even if you had million dollar bills, you’d need a stack of two million of them.

      Think of that – even if expressed in fictional million dollar bills, the stimulus likely would not fit in the house chamber.

      1. This page may be of interest. http://pagetutor.com/trillion/calculations.html

        Note the to-scale drawing of the guy standing next to the pallets of hundred dollar bills.

        1. Saw that. If you stacked $100’s on every square inch of a football field, $2T would be 15′ high.

    2. I noticed that too. Maybe he can use scrooge McDuck s vault for the next one.

  7. A long time ago, the flag of Virginia showed the proper course for tyrants, and that course was followed.
    Now if is just a dirty picture that shows a woman’s breast. So it is sexist and not worthy of comment.
    If the US citizens will not blow up over this madness, they never will.

    Just for the record; Like a bazillion other social security recipients, I do not really need a check; what I need is the value stolen from my retirement investments by panicked government officials to be restored.
    But I guess it will be my patriotic duty to spend it when it shows up.

    1. I am regretting a lot of the mean things I’ve said about Bernie Sanders supporters. I’m beginning to think that, in addition to being filthy fucking Communists, they might have had a point or two.

      This is ridiculous. Sheer madness. How were we to know that the real Free Shit Army was made up of connected, crony American businesses?

      1. I have always thought the Bernie Supporters has a few points. Mostly they are stupid kids who have been cheated by our education system such that they are unable to understand why things happen the way they do. But, a lot of them are smart enough to see what is going on in spite of that. They just can’t understand why. But, the Bernie supporters have a point about the banks and the big corporations owning the government and basically looting the country. They just have dangerous and stupid solutions to that problem.

        1. Yeah Bernie isn’t wrong about the problems, he just wants to hand more power and money to the central planners. We’re actually seeing what a Bernie presidency would look like….everybody pile everything you want into a bill and make the people pay for it.

          1. That’s what’s so frustrating about the Bernie types
            “Government is corrupt and ruled by the corporations… We need more government to fix it!”

  8. I hope every Democrat contracts the Pay me now virus.

    LIKE YOU’RE NOT THINKING IT.

    1. I thought Guy Fawkes had a point. It would need to be a bit bigger, though…

      I can’t remember despising Congress and the federal government as a whole, as much as I do now.

      1. Oh, and like all truly epic fuckings by D.C., this one’s bipartisan. You can’t lay this exclusively at the feet of the Democratic Party.

        1. Yeh sure but most of it I do. Democrats could just play ball here and not come out looking like opportunistic dumbasses.

    2. There are almost as many awful policies peddled by what passes for “conservatives”. A pox on both their houses.

  9. Did the museums get their money?

    Will baby parts trafficker Planned Parenthood not be aborted with aid?

    Will student debt be cancelled?

    Will racist virus terms be banned?

    The Democrats have the pulse of a nation at heart.

    Degenerates.

    1. The only way to stop this virus is to have lots of free abortions and throw anyone who says the word “Chinese” in the same sentence a “virus” in prison. Didn’t you know that Rufus?

    1. Nuke test in 3, 2, 1…

      1. We need these centrifuges for, uh, virus testing–that’s it.

    2. Those nukes ain’t gonna build themselves.

    1. Maybe she has a thing for guys sniffing her hair.

  10. That may not surprise those who read Pelosi’s coronavirus aid package

    Granny Winebox stuffed 1,119 pages of proggy goodies into that one.
    Sure there are families who can’t pay their mortgages because of government actions and there aren’t enough ventilators, but you know what they would have had?:
    – a provision for conducting risk-limiting audits of results of elections
    – a bailing out of the postal service
    – mandatory early voting ability
    – same day voter registration (a long-time Dem wishlist item)
    – a Protection for Collective Bargaining for Federal Employees Act
    – a program requiring the airlines to fully offset their carbon emissions
    – a provision that allows community journalists to modify their retirement plans
    – a provision ensuring corporate budgets are dedicated to diversity & inclusion initiatives!

    So yeah it was really very focused on the crisis at hand and very relevant to addressing those businesses and working families about to go under from the Covid19 response.

    I’m not kidding when I say that these people are evil.

    1. Didn’t these fuckers also give themselves a 57,000 dollar a year raise too? It was in one of the earlier drafts of the bill.

      1. Pretty sweet deal when the employee can vote on their own pay every year. How did this absurdity become codified?

        Public office should pay a modest stipend, something less than what the rent of a condo in DC is. Make the job something people do regardless of financial benefits.

    2. “But Pelosi’s stimulus bill, which she released Monday, included quite a few slush funds of her own—in the form of expensive demands that had little or no relationship to COVID-19.”

      Right; how does any sane an rational individual not hate the mother fuckers with every fiber of their being?

      Meanwhile “where’s Joe” is to be ushered into the oval office to do absolutely nothing but occupy the chair, while these minions run the country into the ground.

    3. a provision for conducting risk-limiting audits of results of elections”

      in other words a method for the democrats to steal elections

      1. Bingo.

        You can always tell what the Democrats are up to by what they accuse others of doing, and right now they’re calling anyone who opposes them a “fascist”.

    4. 1,119 pages?

      Won’t somebody think of the trees?

  11. College professors extremely worried that their insane rambling political college lectures will be made public as classes move online.

    https://www.campusreform.org/?ID=14563

    1. One professor expressed concern that “right wing sites” could expose what is being taught in college courses.

      DAYLIGHT BURNS!!!!!!!

    2. Evil bastards. I hope my kids learn welding.

  12. Ok, I’m gonna play “what if” with that $2 trillion.

    What if, instead of shutting down the economy and then taking $2 trillion and giving it away to a bunch of different interest groups to make up for that.. what if we had spent whatever it takes to track every coronavirus exposure and quarantine people.

    Like seriously called up the national guard and bought a billion test kits for coronavirus and traced every contact. Screen every person at the border – enforced a 48 hour quarantine on anyone entering the country. Etc.

    That would be.. expensive.

    But there is no way in hell it would have cost a trillion dollars. And we would have saved however many trillions this shutdown has cost our economy.

    1. I’m not sure there are currently a billion test kits in existence, and if that’s true then no amount of a money can buy them at this time

      1. If you had made this choice at the same moment South Korea did, you certainly could have gotten something in place, even if you had to close the borders completely for a week or 3.

        “Here, test kit producing companies…. have a billion dollars each to tool up for production. And have another $10 billion in contracts to produce kits”. They certainly could have gotten to volume production pretty quickly.

        When you have a trillion dollars worth of leeway in your budget, you really can move mountains. You could pay a million people a thousand dollars a day to stand watch with thermometers and only be spending a billion a day. 2 months of that is only 60 billion.

        A trillion dollars is a crazy amount of money.

        Here, 3M… you currently make 35 million masks a month. Have a grant of a billion dollars to ramp up production to ten times that amount. You can do that a thousand times and still only be at half of this package.

        1. test kits do not prevent the spread of a virus. those who show up negative today may be positive tomorrow and we are back to square one.

          1. That isn’t the point.

            The way they handle serious disease – like ebola today, or smallpox of yesteryear – is to quarantine everyone who is exposed.

            Not today’s pretend quarantine where they just say “don’t go anywhere unless you feel like it”. No, they locked people up.

            That’s what the testing is for. Test everyone who is possibly exposed. If you are positive, off to quarantine. Rent out the biggest hotel in town and put everyone who is positive in there.

            Remember, we have more than a trillion to play with.

            Two weeks ago we had hundreds of cases. For a billion dollars, you could have rounded them all up and tossed them in quarantine. Then close the borders off and quarantine anyone coming in for 48 hours, testing them before you let them out.

            If the CDC had really believed this was ten times as lethal as flu, that’s the path they should have been on. But they were on the “track the spread and warn people to cough into their elbows” path.

            I can guarantee that if it was an outbreak of smallpox or highly transmissible mutant ebola, they would not have taken this path.

            Which brings me back to a completely different point… the 10x deadlier than flu bit is entirely BS. If China and Korea are anything to go on, we aren’t going to come anywhere close to flu numbers. Italy seems to be passing the peak, and they aren’t even at flu numbers yet.

    2. Something about an ounce of prevention….something pound of cure….

    3. what if we had spent whatever it takes to track every coronavirus exposure and quarantine people

      Because my paranoia tells me that once it’s all over, that tracker would be repurposed for gun registration.

    4. Our country could not have done that with Trump downplaying the virus. He would have had to admit that it was a grave threat and he can’t do that.

  13. $2T huh? Well that takes care of the whiners in New York State. Now, what about the rest of the country?

  14. https://www.msn.com/en-us/news/us/coronavirus-waffle-house-closes-365-locations-in-us-dozen-in-miami-valley/ar-BB11FW3Z

    They are closing the Waffle Houses. For everyone South of the Mason Dixon Line, this shit just got serious; like 28 days later serious.

    1. The horror! Just imagine if we have shortages of mountain dew, they’ll really start taking this seriously.

  15. additional $4 trillion set aside for Federal Reserve lending power.

    Seems like a typo. Don’t you mean $400 trillion?

  16. Being a generally intelligent bunch of people, I wonder how many of the commentariat will get the full payment, being that the threshold is $75K. I’m thinking less than half.

    1. So you don’t get anything if you make over 75K a year? I haven’t read the details.

      1. It scales back after some threshold amount, less than 100k, IIRC. It extinguishes completely at about 250k/yr. Again, IIRC. Based on 2018 tax return, which is causing bitching in and of itself.

        1. It’s 75. That stuck in my head because that’s darn near my salary.

          1. Clearly you are a rich capitalist oppressor. No soup for you.

            1. Hey bread lines are a good thing. Comrade Bernie says it’s so.

              1. Yes, because Bernies policies are just like Venezuela s and nothing like northern Europe’s

            2. I put a good chunk of my income into varying types of savings, so yeah, I’m indeed evil. I could easily weather a few months with no paycheck. I’m a bad, bad man.

          2. You get zero if you make $99k. Which sticks in my head for the same reason.

      2. It scales down between 75k and 99k, over 99k and you get nothing at all. Those numbers double for couples from what I understand.

        Of course since all the people in those brackets pay significant income tax, this is just the government stealing slightly less this year than it had planned on stealing.

    2. I get the whole thing. I don’t need it. If I get nothing I can soak months of losses. Spend it now; dollars will lose value after this. But it does pay the bills so I will use it, keeping in mind I have paid far more in taxes and I disagree with about 90% of government spending. This is a recouping of lost earnings.

  17. The Treasury Department will instead calculate each check using 2018 or 2019’s tax return (if 2019 has already been filed) but will reconcile the payment later with any adjustments in income after reviewing 2020 filings.

    Think of the JOBS!!

    1. Yes, the economy of the future: we all work for the IRS calculating benefit checks, reviewing tax returns, recalculating benefit checks, collecting our salaries, filing our taxes returns, sending in our tax payments, etc.

      1. …Yes, the economy of the future: we all work for the Government like all communist countrymen do just before the whole nation tanks into riots, gunfire and starvation.

  18. Now Trump is being ridiculed because he said something about increased suicides if this shutdown is prolonged. Well, the Univ. of Oxford researchers found there were an estimated 4,750 suicides (above normal numbers) in the U.S. after the 2007-2009 financial meltdown. Sure, laugh if you want, but if the Pentagon warning that this economic shutdown could last until summer comes true, then suicides (not to mention spouse murder) will result.

    1. It is a long and well established fact that increased suicides is one of the consequences of an economic downturn. I have honestly never heard that assertion questioned much less ridiculed.

      1. “…I have honestly never heard that assertion questioned much less ridiculed.”

        Never had Trump to blame before.

      2. I do not understand it either. There were a ton of suicides in 1929. There were a bunch of suicides in 74-75 when we had stagflation. And more suicides in 82 with that recession. And the the aftermath of 9/11, and the GFC. To me, it is beyond dispute.

    2. another example: instructional swim programs for both my children were cancelled because of this. I’m not too worried because they have learned the fundamentals, but what about the kids just starting?

      or to frame this as politically against the economic shutdown: WHY ARE PEOPLE SUPPORTING THE DROWNING OF CHILDREN? they should reopen the economy if it saves even ONE life!

      1. I can’t believe we don’t have mandatory swimming classes for all K-12 students, especially high-risk populations such as those that live near the beach or in suburbs with hot summers.

        1. Throw in a racial component and it’s a done deal. It’ll be added to the current stimulus posthaste.

          Certain minority groups are notoriously bad swimmers! Haha

    3. The 2007-2009 financial crisis didn’t feature a 30% unemployment rate, which is what we’re projected to be looking at for 2Q 2020. Sure, it’s likely to be temporary, if the economy is up and running again in a couple of weeks. But if this thing goes on a couple of months, you can anticipate it being a hell of a lot worse because a lot of people won’t have any jobs to go back to. And that will absolutely make the suicide rate higher. As well as alcoholism, addiction, divorce, depression.

      And then, if they don’t feel like there’s an end in sight or a way out, civil unrest. And we damn sure don’t want that on a national scale.

  19. Where are those goddamn Tea-Baggers now? They went ballistic after Obama’s $787 stimulus (1/3 tax cuts) and this one is 3x the size.

    Oh, its okay if you’re a Big Gov Republican like The Dotard and Bush (TARP).

    1. I’ve been away for a bit; are you the new butt or the old butt?

      1. He’s the pedophile.

        1. Oh ok, under age butt.

    2. TARP was a loan – What you’re looking for is AARA which was 4-TIMES! the amount of TARP and wasn’t a loan at all. It’s shocking how prominent media bias is.

  20. Yaaaay for Socialism from the most Libertarian president ever, right LC1789!

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  22. Trumpulus is an even MUCH more biggly piggly Porkulus.

    Trump is Obama’s third term.

    1. Exactly. But to be fair, Obama was handed a very bad economy, Trump just squandered an improving economy. Just saying.

      1. “…But to be fair, Obama was handed a very bad economy…”

        And managed to keep it that way.

        1. …. and really tank it while doubling the national debt in the process.

      2. Both Obama and Trump and their complicit segments of the commentariat redefined “a good economy” to hide that for both of them GDP growth has been significantly below even Carter’s “Malaise.”

        Stimulus and all of the other elements of big government, whether nationalist or socialist, are a millstone around the economies neck. One dangerous difference is that the big government nationalists have so co-opted them that the Republicans that used to oppose it now support it, leaving no one to call out the lunacy but libertarians.

  23. “But Pelosi’s stimulus bill, which she released Monday, included quite a few slush funds of her own—in the form of expensive demands that had little or no relationship to COVID-19.”

    Like $15 minimum wage, same day voter registration, $35 million for the JFK Center for Performing arts, “diversity” for corporate boards, bailing out the post office….

    Right; how does any sane an rational individual not hate the mother fuckers with every fiber of their being?

    Meanwhile “where’s Joe” is to be ushered into the oval office to do absolutely nothing but occupy the chair, while these minions run the country into the ground.

    1. Really? Increased minimum wage, modified voting policies, and some money for an art center raises to the level of “hate the mother fuckers with every fiber of their being”?

      1. It has a most vile feeling to it. The whole point of this bill is to get money where it is needed most. The entire business is unpleasant; the democrats and their fucking spending problem, and the republicans and their hatred of poor people.

        1. It’s not a “hatred of poor people” its a hatred of “people that steal”.

          Are we suppose to embrace and encourage the thieves among-st us. Encourage irresponsibility and a permanent condition of sucking off of governments tit? Which is really just a cry to “enslave” anyone who is productive.

          You might find it interesting that more wilful “charity” is given by the Republicans. How does that fit into your “hatred” theory?

      2. You seriously have to ask that? Can not this epic “largest financial package in US history” not be forced to include a laundry list of progressive pork, and be held hostage by Pelosi and company toward that end? Just how does one spin that?

  24. The old idea of a debt Jubilee may well gain traction in here. It is insane for people to get checks – in order to pay the landlord or the bank

    Whew good thing we are completely taken over by the rentier mindset.

    And this may well – certainly should well – be the last straw for millennials and Z’s. They simply need to stop using the dollar as much as possible. Because it is clear the older gens in power simply want to strangle them into a Japan perma-stagnation. Unfortunately all the existing cryptos are utter failures as actual currency and those who understand crypto don’t understand ACTUAL economics or money.

    1. “…It is insane for people to get checks – in order to pay the landlord…”

      One of the more moronic statements in a very long string.

    2. Let’s keep going: It’s insane for landlords to get rent in order to pay the banks. It’s insane for the banks to get loan payments in order to pay their investors.

      1. It certainly does jack up costs doesn’t it. And hey presto – a bank/investor-class bailout via a different door.

        So how much of it is actually productive? Adds value? Rather than is simply folks lined up to wet their beak – because they are protected via some privilege (eg the ability to create money out of thin air)? how much of it simply gets passed on as a burden to the next generation and the next and the next?

        I don’t agree on much (maybe none) of the prescriptions of Michael Hudson but he is one of the few economists (orthodox and non-orthodox and in his case very non-orthodox) who even bothers to understand economic history. And esp debt.

      2. What is insane and asinine is having landlords and banks file those loans under someone else’s name.

  25. Why won’t Orange Man just order the minting of Krugman’s trillion dollar coin? Only a NYT columnist can save us!

  26. Isn’t it funny how the 2008 deficit hawk fiscal conservatives have morphed into super Keynesians? I wonder what changed?

    1. Their orders.

    2. It is SICKENING…. REALLY SICKENING…. $4T!!!!!!!!!!!!!!! That’s $12,500 for EVERY SINGLE Man, Woman and CHILD! The U.S. Constitution doesn’t authorize this GRAND THEFT OF MASSIVE PROPORTIONS!!!! The inmates are running the asylum……

      I’ll be X’ing off my supportable list any congressman who votes for this bill and I’d suggest others do the same if they have even one ounce of pride in living in the USA and aren’t purposely TRYING to destroy as it seems the majority of politicians are.

        1. And your definition of “Grow Up” is what — thinking you’re entitled to just TAKE from others whatever you want… Your mentality is in prison and for good reason.

          1. It means understanding not letting people die and stimulate the economy during hard times is a reasonable measure. It means not whining and throwing a tantrum as if you’re a 5 year old having his lollipop taken away.

            1. YOU ARE lobbying to TAKE my lollipop away!!!! The lollipop I worked extremely hard to EARN (<-Keyword) for myself NOT you!!!!! What kind of justice are you pushing for anyways – one in which stealing candy from kids is cool????

              And who the heck do you think you are to believe your going to "not let people die" anymore? GOD??? Say, why don't you just go around stealing lunches at the grade schools and calling all the kids there whiny tantrum throwers you sick-individual.

  27. I for one am pretty satisfied. I was worrying I might get nothing because I was still a full time student in 2019, I started working this year. I’ve also seen a lot of people complaining that immigrants who had just moved here and started paying income taxes in 2020 would be left out.

    1. You’re all JUST LIKE wild animals fighting over other peoples money of which you DID NOT earn like it was freshly killed carcass —- sickening… Absolutely sickening what people have resorted to.

      1. It’s not “other people’s money”. They just create the money out of thin air.

        1. I take it that was sarcasm. But just in case; my response would be.

          Money is nothing without representing purchasing power (i.e. labor/value). No matter what deceptive practice they use (i.e. fiat printing) the practice is still a theft of somebody else’s labor/time/intellect. The politicians just as well show up with assault rifles and rob a bank because the underlying justice measure is exactly the same.

          1. Money is nothing

            You could have stopped right there. As “Elizabeth Warren” said on SNL, money is just computers making promises to each other.

            1. USD = Nothing?? Yes; It does seem like the [WE] foundation is trying just as hard as they possibly can to turn the USA into a useless junkyard alright. Just as well call US production the Half-a-Peso toilet paper bill that no one wants since it means squat.

      2. Cry me a river. I pay into social security and we’re going through a crisis. I’m getting as much of other people’s money as they (including you, clown) are getting mine.

        1. THAT is exactly what COMMUNIST countries ARE…. If you don’t have a problem with that then why the HELL did you come to the USA. MOVE to a communist country so you can siphoning off the immoral injustice idea that people never have any right to own anything let alone their very selves.

          1. People are being laid off and dying, moron. We’re not redistributing the wealth. Funnily enough, it’s you who should move out. The USA is doing something that clearly bothers you and it was a plan proposed by the right wing party. We don’t need people like you making America worse, so please leave.

            1. “People are being laid off and dying, moron.” — And they don’t ever do this exactly where on the planet EARTH?? How exactly does *free* checks not equal “wealth redistribution”??

              I would move out of this soon to be Valenzuela-II “[WE] foundational” anti-individual rights/freedom brewed hack-of-a-once-great-nation if there was another one that actually took more pride in individual autonomy and upheld the U.S. Constitution. Sadly; there isn’t one so I’ll just TRY very hard to prevent the inevitable socialism attacking this one.

              Are you sure this was right-wing proposed? Last I heard Trump wanted a tax delay and loan programs. Either way, while I support the Republican platform this DOES NOT in any way shape or form reflect that platform.

  28. So exactly why – I mean with the government controlling ALL banks – can they not just pass legislation for instant individual/corporate loans for those that need them during the CRISIS they obviously couldn’t be bothered with being responsible and preparing for.

    WHY IN THE H*LL does this have to be a communist economy??

  29. Every demand for stimulus and an end to precautionary measures is a vile collectivist demand for the blood and treasure of others.

  30. Probably due to being evil mined, suspicious and having a working memory, I wonder as to whether or not his huge spending bill allows for stock buy backs, as did the last similar piece of legislation?

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  32. Curious how our bankrupt federal government quickly found $2 trillion laying around when pushed.

    How you gonna pay for it? Congress approves the expenditure. Treasury cuts the checks. Same as always.

    MMT in action right before your eyes, folks. Suck it up.

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  34. Hi Billy, nice article… one question in the third paragraph those 6 numbers 500B, 367B, 130B, 200B, 250B add up to 1.597 Trillion so there is about .403 Trillion not listed, if i did my math right, and believe me with those big numbers it’s easy to do the math wrong! I’m sure you got your numbers from a reliable source but it appears that the source left out some values… do you agree?

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