Agreement on another relief bill?

[Bullseye]

Look at the historical economic charts, as they relate to Presidential party.

As to today, look at the current economy and pandemic response (which are inter-related).

I have looked at those charts, I suggest you pay attention to the party controlling the Senate and the House rather than just the party of the President. While the President gets the credit or blame he plays a relatively minor rule - he submits a budget in the Spring which hasn't been enacted in over a decade; the real budget comes from budget memoranda written by each house and than hammered together in reconciliation meetings and finally submitted to the President. That document is thick and heavy and mostly useless; the FY 2009 budget called for a little over $350 billion in spending. The rubber meets the road when the House creates the 12 appropriation bills that actually appropriate the money. Beyond that there is also off-budget spending - all spending bills have to originate in the House so you can see why the party controlling it has huge power. And individual members are allowed to offer amendments adding more money to the pot.

What you'll see is those heroic Democratic Presidents that did so well for the economy frequently had Republican Houses - the taxation and spending authority. Clinton had GOP oversight from 1995 - including the wonder years when there was actually a surplus. Same with Obama; he lost the House AND filibuster proof Senate in the 2010 mid terms. Shortly thereafter the trillion dollar deficits went away.


Poke around a bit in these White historical budget spread sheets They're dry as a desert but interesting on how we plan to spend our money and how we actually do. I like the first one as an overview. The others breaks down sources of funds, where they were spend and a lot of other good stuff if you're a numbers freak.

 

[jaeger19]

On a positive note, congress delayed their recess because a new relief bill did not pass. Who thinks Donald Trump will enact an executive order to extend unemployment benefit bonuses and rent moratorium?

Republican's want to limit spending to 1 Trillion dollars and Democrat's are seeking 3 Trillion in aid.

Republican's have two strong points

1. $600 Unemployment bonus is possibly a reason for some to not work, as they make more with the bonus.
2. The Democrat's are requesting aid to help State's that were long struggling before Coronavirus 19. The aid should be exclusively for Coronavirus 19 related debt.

Now, the Republican's have stepped out of line a few times as well with some hidden provisions. For example, the 100% lunch right-off that is claimed to help boost restaurant businesses will no doubt be abused.

In the end, we are looking at a 2 Trillion dollar aid package.

Opinions and thoughts please.

The 600 dollar unemployment is not a possible reason for some not to work. For one..if your employer offers you to come back to work and you refuse.. you are cut off from unemployment insurance (I am an employer)

Second.. IF there were a huge number of jobs out there..and people were simply refusing to go back to work..then wages should be going up to get people to come back to work. BUT.. thats not happening because the number of jobs available..is smaller than the number looking for work.

IF most people were getting MORE money than they were making working.. then the economy SHOULD HAVE BOOMED. Because you would be injecting MORE demand (all that extra money).. into the economy.

But what has happened is the economy has contracted.. which means that the money put out there is LESS..than what was in peoples hands before.

So reducing the amount being sent to families.. is simply going to contract the economy.. that much.

2. What is corona virus related debt.

We know that corona virus is more likely to occur in areas with poor housing and multigenerational homes, or multi family homes..

So solving the housing issue is part of solving corona virus

We know that kids going to school is likely to put children and their parents and grandparents at risk. BUT.. if school districts who were struggling before.. can;t provide the laptops and access to the internet for kids.. then they will be forced to provide in class teaching which may extend the virus.

Its simply that health issues are not so simple.