Massive Stimulus Package For Americans Proposed

OneEyedDiva

OneEyedDiva

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New Jersey
And it seems like everyone is on the same page about getting this done. “We’re looking at sending checks to Americans immediately,” Treasury Secretary Steve Mnuchin said Tuesday. “And I mean now, in the next two weeks.” With the scary volatility of the stock market due to COVID-19 fears, including so many who will be out of work or find their hours cut as well as the shut down of businesses across the country, something needs to be done for sure. Hopefully this is feasible and will work to help stabilize the economy. Do you think this will help? Please do not politicize your responses!
https://www.washingtonpost.com/us-policy/2020/03/17/trump-coronavirus-stimulus-package/
 

Diva, I forget which President did that (Bush Jr?), and it didn't do squat for the economy. I think my portion was like $400 or so. I read that most people put it in savings or paid off bills. If I get this one, it's going straight into my emergency savings account. Our deficit is already in the $trillions, this will just be adding to it. If the US were a business, it would already have gone bankrupt.

Here's an article about it back then = https://www.thebalance.com/bush-economic-stimulus-package-3305782
 

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I have no problem with economic stimulus targeted to the people who have been living paycheck to paycheck and are now facing a job loss through no fault of their own.

I also believe that any stimulus that increases the national debt should come with a bullet-proof plan to pay it down quickly when the economy rebounds.

IMO if the government is planning on mailing everyone a check it's a foolish waste.

American's need jobs, not handouts.

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I think they should have a slush fund that will make payments to those out of work, similar to unemployment benefits. Just randomly sending "every American" $1000 seems kind of irresponsible. Speaking for my husband and I, we don't need $1000 but many families DO. So have people apply for the benefit and start paying them.
 
C'est Moi said:
I think they should have a slush fund that will make payments to those out of work, similar to unemployment benefits. Just randomly sending "every American" $1000 seems kind of irresponsible. Speaking for my husband and I, we don't need $1000 but many families DO. So have people apply for the benefit and start paying them.
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I agree. We're in a similar situation with our finances, but there are millions who will be increasingly affected as this mess drags on. This proposal seems to be just "throwing money at a problem, hoping it will go away"....instead of carefully targeting those most affected. If we get such a check, I think we'll just hold onto it, and give it to the working Grandkids, in case they get laid off, etc.
 
I was under the impression that years ago, the lawmakers passed a resolution that no new spending bills could be passed after the budget had been approved, unless they had a way to pay for it. So, the way around that is to never approve a budget.

I would agree that some families need financial help and I am in favor of the gov’t helping them, but only if they are unemployed due to their job being shutdown because of the virus.

I still don’t understand completely why we are still in the Mideast. The billions of dollars that we have spent over there could have really been put to better use, including offering students college aid. It would be a huge relief for the student, if the gov’t used that war money and then split the cost with the student. I wouldn’t be in favor of100% tuition, however, 25-50% would be more realistic. Some of the war money could have also helped those Seniors that need high price prescriptions and cannot afford them some Seniors that need a little help just to live.
 
I’m sure it will be based on income. I have to think that if more businesses are shuttered it might be needed. As much as I despise bailouts, this does not have the underlying causes of the 2008 debacle.
 
What is the argument against just giving money to only anyone that lost or loses their job? Yes, they receive unemployment, but it’s usually less than what the worker would normally take home. Why would the gov’t give money to people who are still working?
 
Pecos said:
If we get one of these checks, the bulk of it will go to a food bank. We will spend the rest on local labor as we do have a couple of projects around the house. Either way, we will do our best to get the money to the people who desperately need it.
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I like that
Basically, that's my train of thought
We work with other volunteers, food banks, churches, etc
Food/clothing are the big ones

Hate seeing the gov't throw money at things
But, if they are throwing it at everyone...I'll take it
Put it where it works
 
It's just a damn mess.
When I was employed it was strictly a pay-check-to paycheck existence:
these are the people that need help-continuing help, not a onetime check.

Whatever happened to the 'make do' spirit in America?
 
jerry old said:
It's just a damn mess.
When I was employed it was strictly a pay-check-to paycheck existence:
these are the people that need help-continuing help, not a onetime check.

Whatever happened to the 'make do' spirit in America?
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That was my argument in post #11. If anyone is still working, why would they receive any gov’t money? Those laid off, I agree. Even anyone considered in poverty level should be helped, but that’s it. You have a job, you are being paid, that’s enough.
 
we have a history of chunking money at problems, it has
never worked
post 8 &11 make good sense
Addendum: all the post make sense.

Now us get silly-is this to time to rob gas station?
Cop "Joe, we can't put him in jail, there closed."
 
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Catlady said:
Diva, I forget which President did that (Bush Jr?), and it didn't do squat for the economy. I think my portion was like $400 or so. I read that most people put it in savings or paid off bills. If I get this one, it's going straight into my emergency savings account. Our deficit is already in the $trillions, this will just be adding to it. If the US were a business, it would already have gone bankrupt.

Here's an article about it back then = https://www.thebalance.com/bush-economic-stimulus-package-3305782
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I agree with what you've said Catlady. But I don't think the country's shape was this bad back then. We have businesses closing all over the country, simultaneously...both big and small. We have massive amounts of parents out of work and those who can still work, have to find childcare for their children who are now out of school for at least 2 weeks, maybe more. Truthfully, the proposed amount (latest I heard over $1,000 pp) will not pay the average family's rent or mortgage and buy food but it's better than nothing. I don't know how people are going to make it. Deficit or not, what will this country be like if mass amounts of people don't have money to feed their families? Coast to coast anarchy? It's a sad, scary, very serious situation!
 
oldman said:
That was my argument in post #11. If anyone is still working, why would they receive any gov’t money? Those laid off, I agree. Even anyone considered in poverty level should be helped, but that’s it. You have a job, you are being paid, that’s enough.
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But many people don't or wont' have jobs for a few weeks Oldman! Businesses are shutting down en masse in many states. Went to the bank today which is located in a mall. The entire rest of the mall was shut down "until further notice". Teachers and TA's (my DIL is one) are out of school for at least two weeks, maybe more. The rents in our area are ridiculous and my son and DIL are hard workers but they need both checks to live. When she's out of work, it creates a major hardship. Right now I know from what's been said by our governor I feel things may be shut down for more than two weeks. Things are up in the air as to how these masses of people who can't work due to all the shut downs will be paid. I met a man who owns a nail salon in the bank today. He said his rent for the salon is $2,500 a month and he has children. He doesn't know how he's going to pay it because his business, along with so many others had to close down in definitely.
 
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