A quick spotlight on agencies receiving coronavirus recovery in the Senate bill includes:
$88 million to the Peace Corps for “evacuating volunteers and U.S. direct hires from overseas.” The agency just fired all of their 7,300 volunteers working in 61 countries on March 15. The Pelosi bill allocated $90 million. $250 million to the Internal Revenue Service (IRS). The subsidy would cover “taxpayer services,” “enforcement,” and “operations support.” The Pelosi bill provided $602 million. $350 million to the State Department for “migration and Refugee Assistance.” This funding would help minimize the virus spread in vulnerable populations. The Pelosi bill earmarked $300 million. $400 million to the federal Election Assistance Commission to assist the states with “election security grants.” The Pelosi bill provided $4 billion. $30.8 billion to the Department of Education for “state Fiscal Stabilization Fund” that provides grants to support of elementary and secondary education ($13.5 billion), Higher Ed ($14.25 billion), and State flexibility grants ($3 billion). The Pelosi bill asked for $50 billion.
I just heard an interview with Mark Cuban who said this bill includes loans to small businesses which will not be required to pay back. Can any of you confirm this? He said every small business owner in the country needs to take advantage of this immediately. I don't need to take a loan to keep my employees paid or pay for normal business expenses but if I can get some free government cheese, then hell yes I want to take advantage of that.
I just heard an interview with Mark Cuban who said this bill includes loans to small businesses which will not be required to pay back. Can any of you confirm this? He said every small business owner in the country needs to take advantage of this immediately. I don't need to take a loan to keep my employees paid or pay for normal business expenses but if I can get some free government cheese, then hell yes I want to take advantage of that.
Guessing there is a payback schedule that is very, very lenient - like many years at not many interest points.
If the govt hadn’t shut it all down, probably no need. But since it’s there, take it. Gives the medium to marginal performers a shot to live to fight another day. Like classic liberalism, conservatism is dying if not dead.
It’s gonna play havoc with rates and inflation medium- and long-term; but absent a killer balance sheet and loads of cash in the bank, most businesses can’t sustain a month or more of revenue and disruption of their supply chain.
I have mixed feelings about all of this but I do think there's something to be said for the idea that when government orders are what is killing an economy/job market/personal finance that it's more appropriate for said government to step in and offer relief.
This isn't just some random recession. This is a recession caused by a virus yes but moreso by governmental response to said virus. I'm pro small government but if government is going to choose to take away economic freedom like this I think they have to offer economic relief.
IOW I was against W's stimulus in 08 but am pro Trump's stimulus in 20 even though I am much more pro W than Trump.
If there's ever a situation where government stimulus is appropriate this is it.
Comments
Boy did the Senate shred Pelosi's demands
A quick spotlight on agencies receiving coronavirus recovery in the Senate bill includes:
$88 million to the Peace Corps for “evacuating volunteers and U.S. direct hires from overseas.” The agency just fired all of their 7,300 volunteers working in 61 countries on March 15. The Pelosi bill allocated $90 million.
$250 million to the Internal Revenue Service (IRS). The subsidy would cover “taxpayer services,” “enforcement,” and “operations support.” The Pelosi bill provided $602 million.
$350 million to the State Department for “migration and Refugee Assistance.” This funding would help minimize the virus spread in vulnerable populations. The Pelosi bill earmarked $300 million.
$400 million to the federal Election Assistance Commission to assist the states with “election security grants.” The Pelosi bill provided $4 billion.
$30.8 billion to the Department of Education for “state Fiscal Stabilization Fund” that provides grants to support of elementary and secondary education ($13.5 billion), Higher Ed ($14.25 billion), and State flexibility grants ($3 billion). The Pelosi bill asked for $50 billion.
FREE MONEY!
It’s gonna play havoc with rates and inflation medium- and long-term; but absent a killer balance sheet and loads of cash in the bank, most businesses can’t sustain a month or more of revenue and disruption of their supply chain.
Now that YOU get some, it’s gimme gimme gimme.
But HOW are you all hypocrites???
Like I said, enjoy. Sounds like many of you desperately need it. I hope it helps.
This isn't just some random recession. This is a recession caused by a virus yes but moreso by governmental response to said virus. I'm pro small government but if government is going to choose to take away economic freedom like this I think they have to offer economic relief.
IOW I was against W's stimulus in 08 but am pro Trump's stimulus in 20 even though I am much more pro W than Trump.
If there's ever a situation where government stimulus is appropriate this is it.
Tommy can now use some of it to book a killer deal of a flight to DC for the Women's March next year.