From the article<\/strong>: \u201cnet amounts of money right now.\u201d<\/p>\nBiden said he would lay out the package in more detail next week. It would build on some $4 trillion in economic assistance Congress has already devoted to battling the devastating pandemic, including a $900 billion package President Donald Trump signed into law last month.<\/p>\n
Discussions were getting underway in earnest with Democratic leaders on Capitol Hill, with Biden aiming to move the package to a vote as quickly as possible.<\/p>\n
But in an early sign of the challenges Biden may face in getting his agenda through Congress, even with both chambers controlled by Democrats, Sen. Joe Manchin III, D-W.Va., expressed skepticism Friday about the benefits of a new round of stimulus checks. \u2013 article<\/strong><\/p>\nSo there you have it, folks: somehow, Trumps\u2019 more modest package of $1.9 trillion, which was affordable at the $600 stimulus check level and included extending the federal unemployment coverage, among other things, was just not enough even though Pres. Trump did want to raise enough for the second stimulus payout to those in need by bringing it to $2,000. Nancy P., she of the gavel-clutching grin, even said she\u2019d sign off on it. Unfortunately, it never got past the discussion stage.<\/p>\n
But now someone who knows how to manage financial assets is gone, and we have Spendy Joe, who has no idea where this money will come from, with a package that is some trillions in costs. The total to date on public support since last April has come to +\/- $4 trillions.<\/p>\n
Biden says his new proposed package will cost trillions<\/em> more, with no acknowledgement that the current recession is not going to generate taxes sufficient to provide this funding, it’s legitimate to ask: who will pay for it? There is no reference re: the source of this cash, which indicates that the proposal is made by someone who is a financial incompetent, with no idea how a budget really works. Biden has said in plain English “it will cost trillions”.<\/p>\nOkay, Joe, show us the money.<\/p>\n
In addition, Joe Manchin (D-WV) has now stuck his oar into it, indicating clearly that it is excessively high and we simply do not have that kind of ready reserve cash. He is not alone: not all Democrats are financial idiots. I’m rather hoping that Schumer will speak up on this subject matter, too.<\/p>\n
I know that there are plenty of people who truly do need the ready cash, but all of these people who are proposing cash dispensations (and that includes Trump) have not been looking any further ahead than the next two months.<\/p>\n
It doesn\u2019t matter where the money comes from, but if you are working, count on your federal taxes going up considerably to help pay for this plan. This recession, as I have said before, will last until mid-2024, and that is the forecast of two financial analysts who know and understand how economics work. If it’s bad here, it’s worse in the UK, because Boris has been asking for a new law banning the use of all carbon-based fuels (wood, coal, gas, etc.) and insisting on sending everyone to wind-generated systems. He does not indicate how that plan is going to be financed or who is going to pay for revamping homes to use electric heating systems at large.\u00a0 China is also having a “rough” time, because even though they’ve done a lot of land grabs here and there, sales of their products are down.<\/p>\n
In this case, all Joey knows about is \u201cspend, spend, spend\u201d, and thinks that everyone will like him in return.<\/p>\n
Hmmm\u2026 I wonder if this means reducing military pensions somewhat to pay the po\u2019 folks instead. The money for this has to come from some place, folks.\u00a0 I’m not looking at cutting corners: that is not a solution. I’m looking at the efficient use of funds available whether or not it leaves room for unspent funds, which is how ordinary people do things. Will the military budget be cut back? That’s happened before more than once, to the detriment of the military overall. So back to the question: where are the real cuts going to come from? And how much will taxes be raised to pay for this trip?<\/p>\n
Naw\u2026. They wouldn\u2019t do that…. would they?<\/p>\n","protected":false},"excerpt":{"rendered":"
In case you haven’t heard about it, there is news on Biden and his prospective stimulus … And In Other News….<\/span>Read more<\/a><\/p>\n","protected":false},"author":653,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[430,518],"tags":[],"class_list":["post-109310","post","type-post","status-publish","format-standard","hentry","category-2020-election","category-biden"],"_links":{"self":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/109310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/users\/653"}],"replies":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=109310"}],"version-history":[{"count":1,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/109310\/revisions"}],"predecessor-version":[{"id":109323,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/109310\/revisions\/109323"}],"wp:attachment":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=109310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=109310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=109310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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