The Second Stimulus Deal Was Announced Today

Status
Not open for further replies.
Irwin said:
Let's see what the U.S. debt is up to now...

$27.5 TRILLION DOLLARS!!!
Click to expand...
Debt isn't a problem if you have money to pay for debt. The problem starts when there isn't enough to pay.

The Bottom Line​

Many people believe that much of U.S. debt is owed to foreign countries like China and Japan. The truth is, most of it is owed to Social Security and pension funds. This means U.S. citizens, through their retirement money, own most of the national debt.
U.S. national debt is the sum of these two federal debt categories: Public debt (held by other countries, the Federal Reserve, mutual funds, and other entities and individuals)
  • Intragovernmental holdings (held by Social Security, Military Retirement Fund, Medicare, and other retirement funds)
  • Intragovernmental holdings (held by Social Security, Military Retirement Fund, Medicare, and other retirement funds)
Wonder what will happen if the predicted 24% cut to S S takes place when projected? Will the working middle class foot the bill that is increasing due to the stimulus increasing the debt?
 
Knight said:
Wonder what will happen if the predicted 24% cut to S S takes place when projected? Will the working middle class foot the bill that is increasing due to the stimulus increasing the debt?
Click to expand...

Well before SS reaches its "limits", Washington is going to have to deal with Medicare. Some estimates put that program going into trouble as soon as 5 years from now. How funding is handled for Medicare will go a long ways towards predicting the future of SS.

At some point....in the Very Near future, Washington is going to have to put the needs of the majority ahead of the wishes of the wealthy and the corporations.
 
Aneeda72 said:
It’s busy as usual with the stimulus attached so no real surprises, but I doubt we will get the 2000. It was objected to on the senate so we shall see. They have to override the other bill anyway, the military funding one which was vetoed, so they just override this one as well.
Click to expand...
Early this morning I heard that the president said he would sign the spending bill if the senate will rewrite a separate stimulus bill and the senate agreed, and also agreed on the $2K stim check, but they want "concessions". (Another report I heard used the word compromise.)
 
Yosh said:
The numbers you site for foreign aid, etc, are the same numbers Trump himself requested in his budget. Obviously, he has no clue as to what his budget requested.
Click to expand...
Exactly! How could he request something and not even know it?o_O Furthermore, too many people refuse to understand that the aid/funds for other countries and pet projects are part of the spending bill and not the stimulus package.
 
Don M. said:
Well before SS reaches its "limits", Washington is going to have to deal with Medicare. Some estimates put that program going into trouble as soon as 5 years from now. How funding is handled for Medicare will go a long ways towards predicting the future of SS.

At some point....in the Very Near future, Washington is going to have to put the needs of the majority ahead of the wishes of the wealthy and the corporations.
Click to expand...
YES!!
 
Murrmurr said:
I don't even see why retired people on soc.sec are included. If we weren't then it stands to reason families would get a lot more.
Click to expand...
There are a lot of people living on SS who are way below the poverty level. Social Security isn't really enough to live on if that's all you have. Just because some of may not "need" it does not mean that there are not many who do. I know several of those who need it badly.
 
Sassycakes said:
I don't want to get Political, but why can't they cut the pay that goes to the Politicians and give more money to the people that have been really going homeless with not enough money to keep up with their rent.
Click to expand...
Well, the people that would have to cut the pay to politicians would be the politicians, i.e., Congress, and do you really think they are going to do that? I certainly do not.
 
If he hadn't been busy with his golf game, he could have proposed ( or made known his preference for ) the $2000 way back when the negotiations were starting. At this point in time it's nothing but grandstanding at it's finest. $5000 could be suggested as it's not going anywhere and some people are going to actually believe that the $2000 is a sincere suggestion. pathetic,the depth to which this country has sunk.
 
fmdog44 said:
"Merry Christmas" from your reps in Washington who are employed and ahead of us in line for the vaccine. Don't call us, we'll call you.
Click to expand...
I had to listen to a nurse at the hospital complain to me that she thought nurses were getting COVID from patients that were lying about staying home between the time they got their test and the time they had their procedure. What crap! Then she says, of course, we all have got our vaccines now. 🤦🏻‍♀️
 
Knight said:
Debt isn't a problem if you have money to pay for debt. The problem starts when there isn't enough to pay.

The Bottom Line​

Many people believe that much of U.S. debt is owed to foreign countries like China and Japan. The truth is, most of it is owed to Social Security and pension funds. This means U.S. citizens, through their retirement money, own most of the national debt.
U.S. national debt is the sum of these two federal debt categories: Public debt (held by other countries, the Federal Reserve, mutual funds, and other entities and individuals)
  • Intragovernmental holdings (held by Social Security, Military Retirement Fund, Medicare, and other retirement funds)
  • Intragovernmental holdings (held by Social Security, Military Retirement Fund, Medicare, and other retirement funds)
Wonder what will happen if the predicted 24% cut to S S takes place when projected? Will the working middle class foot the bill that is increasing due to the stimulus increasing the debt?
Click to expand...
Wow..I did not know this! Here is an article that explains and breaks it down further.
https://www.thebalance.com/who-owns-the-u-s-national-debt-3306124

@Nosy Bee-54 "Exactly! How could he request something and not even know it?o_O Furthermore, too many people refuse to understand that the aid/funds for other countries and pet projects are part of the spending bill and not the stimulus package."
I'm one who understands and am annoyed by it. Why all the fluff in there to help other countries and special interests?! This is supposed to be a package to help Americans! What's included in this so called stimulus package is mind boggling. There are far too many people hurting in this country who needed another stimulus months ago. They are losing their homes, can't feed their families, can't afford health care, etc. It's a nightmare. I don't think politicians live in nor can understand people who live in the real world.


Like Like Quote Reply
 
Last edited:
Forget the 600 bucks in the bill, or the 2 grand it could turn into...the big tragedy right now is the ending of unemployment benefits for 12 mil workers (the new bill would have not only provided an extension to unemployment benefits 11 more weeks but added an additional 300 bucks EVERY WEEK.) Plus evictions/foreclosures for how many millions of Americans would have been stayed. In Oct. there were over 6 mil alone. Who know what it is now.
 
Liberty said:
Forget the 600 bucks in the bill, or the 2 grand it could turn into...the big tragedy right now is the ending of unemployment benefits for 12 mil workers (the new bill would have not only provided an extension to unemployment benefits 11 more weeks but added an additional 300 bucks EVERY WEEK.) Plus evictions/foreclosures for how many millions of Americans would have been stayed. In Oct. there were over 6 mil alone. Who know what it is now.
Click to expand...
Exactly Liberty!
 
The stores and all of commerce aren't helping any with all the gouging. My small town grocery I once called The Mafia Store long before the virus, now I have a new name for the store, the 5 dollar store. There is nothing on the shelves that is not 5 dollars and up.
 
This Covid virus is going to have some substantial long term effects on the entire economy....no matter what kind of "stimulus" the government tries to implement. There will be large numbers of jobs that may well disappear for years...perhaps forever...especially as people and companies realize that "work from home" has many advantages for clerical workers. We have many more months before enough people are vaccinated to put this virus behind us...and in the interim, job losses, and small business closures will continue to occur.
 
Status
Not open for further replies.

Back
Top