The checks will soon be issued and sent out to Americans that deserve a break from the problems this pandemic is creating.
As with any good news there is always a naysayer that has to rain on the parade…..
New COVID relief payments of $1,400 will be landing in Americans’ bank accounts soon, but Megan McArdle makes the case in a Washington Post op-ed that the checks are a bad idea. She’s all in favor of the government helping people and businesses in genuine need during the pandemic, but she has a problem with so many of these checks going to fully employed people who don’t need the money. It’s a needed stimulus, you say? Not quite in this case, she writes. We’re in the midst of a “supply shock,” not a “demand shock” marked by plunging consumer confidence. Stimulus can help the latter. But “giving money to someone who still has their job doesn’t make them more likely to go out to dinner if the reason they’ve stopped going out is that they’re afraid of the deadly virus.”
The relief money accounts for $420 billion of the relief package, roughly 20%, and it is the most “indefensible” part of the measure, writes McArdle. Small businesses, for example, could use a lot more help, but the stimulus bill delivers little on the front. Instead, most of this money will likely pile up in people’s bank accounts because they still don’t have a lot of ways to spend it. “It’s bad policy now and a dangerous precedent for the future,” writes McArdle. “And it may well do more to seed the next economic crisis than to fix the current one.” Read her full column.
There seems to always be a “Debbie Downer” with any good news…..someone just has to pee in our Post Toasties…..
Personally the bill does more than all of the “other guy” policies.
All indications are that this one bill will do more for the economy than anything since 1982…..so objections are just silly.
Then there is the “C**T of the Congress” (sorry if that is offense but it is the only word that comes to mind when her name is mentioned), Rep, Taylor-Greene……
Rep. Marjorie Taylor Greene (R-GA) repeatedly claimed on Wednesday that Americans have been “enslaved” by a COVID-19 relief bill that she claims provides “reparations” for Black farmers.
After Greene made her fourth motion to adjourn Congress, she retreated to her congressional office to record a 14-minute Facebook video for her followers. In the video, she blasted Republicans who are “annoyed” with her adjournment stunts.
“I hope you are not disappointed in your Republican representative,” she said. “And if you do find out that they voted no with the Democrats, I hope that you call them up or email them or call their office or send them a letter and let them know how you feel about them voting no.”
Just another worthless Repub with the IQ of a garden slug (that is being unfair to the slug)
I Read, I Write, You Know
“lego ergo scribo”
6 thoughts on “Always A Naysayer”
I have to say I am basically in agreement with her that fully-employed and better-off people should not be needing the extra money. It would be more useful to give more to the unemployed, disabled, and families on the poverty line. I know the idea is to put money in everyone’s pockets to ‘stimulate’ the economy, but the worse off won’t be doing that, just managing to ‘get by’.
Besr wishes, Pete.
Agreed! The bill does worse things than just give money to people who don’t need it. Only about 10% of the bill has anything to do with COVID-19. Most of the bill is designed to reward Democrat constituencies, especially people who will donate money back to the Democratic Party.
Do the math. Even if you sent 1400 dollars to everyone in the country, that is still less than half of a trillion dollars. The bill is almost 2 trillion. Look up what is in it. Most of the news media is not talking, but a few people are.
Still more help than feeding the greed on Wall Street….chuq
Luckily for me, Tom, I don’t live in America.
Best wishes, Pete.
I wish I didn’t!
The figures say this will lessen the poverty rate…..very little goes to corporations. chuq