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From ABC News
As the partial government shutdown stretches into day 34 and 800,000 federal workers are set to start missing their second paycheck starting Friday, Commerce Secretary Wilbur Ross is downplaying the effects on government employees and the overall economy.
Asked in an interview with CNBC Thursday about workers who have been seen lining up at food banks and homeless shelters, Ross, a multi-millionaire, appeared to advise them to take on new debt.
"Well, I know they are and I don't really quite understand why,” Ross said. “Because as I mentioned before, they – the obligations that they would undertake, say, borrowing from a bank or a credit union, are in effect federally guaranteed."
"So the 30 days of pay that some people will be out, there's no real reason why they shouldn't be able to get a loan against it," Ross added.
COMMENT:-
"Hey, if their MasterCard is maxed out, they can always put the stuff on VISA.", says Wilbur ("Marie Antoinette") Ross, "I mean they can always just write a cheque like I do - right.".
Doesn't Mr. Ross understand that there are additional costs associated with buying stuff on credit? Is Mr. Ross proposing that the US government should PAY those additional costs so that their workers break even? (That was what is known as a "Rhetorical Question" to which the answer is "Fat chance!!!".)
PS - Marie Antoinette did NOT say "Let them eat cake." in response to being told that the people had no bread. What she did say was "Let them eat the small loaves" when told that the people had no (regular sized loaves of) bread. Of course the degree of detachment from reality in both cases is just about the same (and the "Let them eat cake." line sells more advertising space.)
Trump Commerce Secretary Wilbur Ross says he doesn't 'understand' why federal workers lining up at food banks
As the partial government shutdown stretches into day 34 and 800,000 federal workers are set to start missing their second paycheck starting Friday, Commerce Secretary Wilbur Ross is downplaying the effects on government employees and the overall economy.
Asked in an interview with CNBC Thursday about workers who have been seen lining up at food banks and homeless shelters, Ross, a multi-millionaire, appeared to advise them to take on new debt.
"Well, I know they are and I don't really quite understand why,” Ross said. “Because as I mentioned before, they – the obligations that they would undertake, say, borrowing from a bank or a credit union, are in effect federally guaranteed."
"So the 30 days of pay that some people will be out, there's no real reason why they shouldn't be able to get a loan against it," Ross added.
COMMENT:-
"Hey, if their MasterCard is maxed out, they can always put the stuff on VISA.", says Wilbur ("Marie Antoinette") Ross, "I mean they can always just write a cheque like I do - right.".
PS - Marie Antoinette did NOT say "Let them eat cake." in response to being told that the people had no bread. What she did say was "Let them eat the small loaves" when told that the people had no (regular sized loaves of) bread. Of course the degree of detachment from reality in both cases is just about the same (and the "Let them eat cake." line sells more advertising space.)