Tag: Economic Stimulus

Dems And Stims

Then Congressional Dems have offered up economic stim plan #5….a 3 trillion virus relief plan….

US Democrats on Tuesday unveiled a $3 trillion coronavirus response package, the largest yet, to fund efforts to fight the pandemic and provide emergency payments to millions of American households.

The Heroes Act was introduced in the House of Representatives and could be voted on in the Democratic-led chamber as early as this week.

But the 1,815-page measure faced immediate opposition in the Republican-controlled Senate, where leaders have said a new round of emergency funding is not yet needed.

President Donald Trump has also said recently that he is against rushing through new coronavirus legislation.

Trump has signed four pandemic relief measures into law in recent months.

They including a massive, $2.2 trillion rescue package in March known as the Cares Act, and a $483 billion measure to pump funds into a popular loan program for small businesses devastated by lockdowns.

The new bill, which House Speaker Nancy Pelosi dubs Cares 2, includes a second round of payments of up to $6,000 per household, in an effort to ease the burden for tens of millions of Americans who have lost jobs in the pandemic.

https://sg.news.yahoo.com/us-democrats-unveil-3-trillion-virus-relief-package-205046095.html

But is this plan as good for us mere mortals as it sounds?

The answer is…..”Democratic leadership has had plenty of input from progressive thinkers over the past couple of months. They just care more about the input from corporate lobbyists.”

There is your answer……

House Democrats on Tuesday unveiled a sprawling 1,815-page, $3 trillion coronavirus relief package that spurns many of the key demands of progressive activists and lawmakers while including proposals that immediately provoked backlash, such as a tax cut for the wealthy and a provision that would allow corporate lobbying organizations to take part in federal small business loan program.

Formally titled the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, the bill (pdf) would provide $1 trillion in additional funding for state and local governments, extend beefed-up unemployment benefits through January of next year, authorize an additional round of one-time $1,200 stimulus payments for adults earning up to $75,000 per year, expand federal nutrition benefits, provide $25 billion for the U.S. Postal Service, establish a hazard pay fund for frontline workers, and increase spending on Covid-19 testing.

https://www.commondreams.org/news/2020/05/12/no-excuse-house-dems-unveil-1815-page-bill-would-bail-out-corporate-lobbyists-omits

More info on the Dems big plan……

The Heroes Act proposes fully subsidizing COBRA, an existing health insurance program that allows laid-off or furloughed workers to remain on their employer-provided insurance plans. Under normal circumstances, COBRA is extremely expensive for individuals—recipients have to cover both their own and their employer’s premium payments—but the Democratic plan would cover 100% of the premium costs through next January.

COBRA expansion has the backing of a bizarre alliance of interests, including big business and some labor unions, but critics say the proposal is wildly inefficient and does not come close to matching the scale of the nation’s current healthcare crisis.

https://www.commondreams.org/news/2020/05/13/massive-giveaway-health-insurance-ceos-democratic-cobra-plan-denounced-costly

“The historic crisis Americans are facing will not end on its own. To end it, these three things—getting people paychecks, ensuring access to healthcare, supporting businesses and their workers—are critical. But this legislation does not yet address them at the scale necessary.”

https://www.commondreams.org/news/2020/05/13/jayapal-rips-democratic-covid-19-bill-doesnt-end-mass-unemployment-or-ensure

Sounds more like a major bail-out for the profit health industry…..when an expansion of Medicare would have benefited more people…..it is all fraudulent relief……

House Speaker Nancy Pelosi on Tuesday released a $3 trillion coronavirus “relief” bill and scheduled a vote for Friday. The Democratic leadership has acknowledged that the measure has no chance of gaining passage in the Republican-controlled Senate, let alone being signed into law by President Trump.

The release of the bill initiates a process of political theater in which the two parties posture to rally their respective bases and generate sound-bites for campaign ads ahead of the November elections. It is expected that the measure will pass on a party-line vote in the Democratic-controlled House, setting off weeks of negotiations between the Democrats and the White House and Senate Majority Leader Mitch McConnell.

https://www.wsws.org/en/articles/2020/05/14/dems-m14.html

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This show just how non-progressive the Dem leadership truly has become…..

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A New Economic Solution

During this time of the pandemic and the loss of jobs the American people are suffering and the economic solutions of Donald the Orange have helped NO one but the already rich…..

Has anyone asked why this pandemic is harder on the economy than the 1918 pandemic which was far deadlier?

“Congress [has] a responsibility to make sure that people aren’t left behind,” a release from Harris says. “Every US resident” would receive a payment, even if they don’t have a Social Security number or didn’t file taxes last year. Debt collectors would also be forbidden from taking the payments. Forbes notes that it’s tough to see the billing passing as is, given that it would give a family of four $8,000 a month. That translates to $96,000 a year, above the median income of $62,000 in 2018. The bill is also competing for funds with similar ones in the works; the magazine notes that “while it is possible an additional stimulus bill may be passed, we will likely see major revisions that would reduce [the] total expenditure of this or other proposals.”

This catastrophe naturally hurt the economy. The Spanish Flu, unlike Covid-19, tended to kill people in their 20s and 30s — their peak productive years. Additionally, many cities responded to the threat the same way states are now with social distancing. These included closing schools and churches, banning mass gatherings, mandated mask-wearing and other restrictions.

https://www.bloomberg.com/opinion/articles/2020-05-06/why-coronavirus-is-punishing-the-economy-more-than-spanish-flu

A little historical perspective and now for the plan…..

A few senators have offered a new economic solution to help us mere mortals through this crisis…..

Americans who received a $1,200 stimulus check from the government to help mitigate financial losses during the coronavirus pandemic could now be coming to a sobering realization: It may not be enough. Three senators are saying the same, and they’ve just put forth a “big idea” to deal with the issue, per Politico. On Friday, Sens. Kamala Harris, Bernie Sanders, and Ed Markey unveiled the Monthly Economic Crisis Support Act, which would give a monthly $2,000 check to each American who makes less than $120,000 a year. Married couples filing jointly would get a total of $4,000, while each child (up to three of them per family) would bring in $2,000. The payments would be retroactive to March and would continue until three months after the virus emergency is officially declared over by Health and Human Services.

“Congress [has] a responsibility to make sure that people aren’t left behind,” a release from Harris says. “Every US resident” would receive a payment, even if they don’t have a Social Security number or didn’t file taxes last year. Debt collectors would also be forbidden from taking the payments. Forbes notes that it’s tough to see the billing passing as is, given that it would give a family of four $8,000 a month. That translates to $96,000 a year, above the median income of $62,000 in 2018. The bill is also competing for funds with similar ones in the works; the magazine notes that “while it is possible an additional stimulus bill may be passed, we will likely see major revisions that would reduce [the] total expenditure of this or other proposals.”

Does this sound like a plan that you would support?

Of course this will go NOWHERE….but it looks good on an resume for the next election….personally, I support the idea….

Spain has rolled out the idea of “universal income”…..

Spain is to roll out a universal basic income (UBI) “as soon as possible” to mitigate the impact of coronavirus.

Minister for economic affairs Nadia Calvino told Spanish broadcaster La Sexta on Sunday night that the move was intended to help families during the pandemic.

But Ms Calvino, who is also deputy prime minister, said the government’s ambition was that UBI could become something that “stays forever, that becomes a structural instrument, a permanent instrument”.

https://www.independent.co.uk/news/world/europe/coronavirus-spain-universal-basic-income-europe-a9449336.html

Any thoughts?

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Closing Thought–11May20

Some bastards are making out like bandits thanks for the pandemic….and many of them are Trump supporters…..

Fracking billionaire and Trump donor Harold Hamm was among an elite group of oil and gas executives who met with the president in early April to press for federal help, including access to big loans for businesses hurt by the coronavirus pandemic. It prompted Trump afterwards to promise to “make funds available to these very important companies”.

Major Trump ally Tommy Fisher, who last year landed a $400m Army Corps of Engineers contract to build 31 miles of Trump’s border wall in Arizona, in April received another $7m from the army – despite an active investigation by a Pentagon watchdog into allegations of favoritism after Trump reportedly pushed for Fisher.

Another big Trump donor, Mike Lindell, the chief executive of MyPillow and the chair of Trump’s campaign in Minnesota, got red-carpet treatment from Trump at a press briefing in late March. Lindell then praised Trump, hailing him as “chosen by God” as the president touted the firm’s efforts to make thousands of face masks.

https://www.theguardian.com/us-news/2020/may/03/trump-coronavirus-wealthy-friends-donors-backers

These people are dealing in death…..it is that simple……

In defiance of overwhelming popular opposition, the Trump administration, a majority of state governments, multi-billion-dollar corporations and Wall Street financial interests are driving ahead with plans for a rapid reopening of the US economy.

The auto industry is leading the charge for a premature and deadly return to work. Succumbing to massive political and economic pressure, Michigan Governor Gretchen Whitmer has sanctioned today’s resumption of production by auto parts suppliers and tool and die shops. Major auto companies intend to resume production in the state next week.

Honda is resuming production today throughout the United States and Canada. This includes plants in Ohio, South Carolina, North Carolina, Indiana, Georgia and Alabama.

https://www.wsws.org/en/articles/2020/05/11/pers-m11.html

These people should be set out and boycotted for their part as purveyors of BS and ass kissers from the Trump squad.

Thoughts?

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“lego ergo scribo”

Covid-19 And Unemployment

We all know that this country is in the grips of a devastating disease and it is causing all sorts of problems…..but the biggest is that people are losing their jobs and having to try for that embarrassing unemployment check.

So far about 30 million Americans are out of work and that does not include those that gave up looking for work…..30 million looking for that weekly check to help them try and make ends meet…..and yet it is not easy to get the help one needs….

Appears that the elected officials are making life miserable for the very people that put them in office…..is this how it is suppose to work?

26 million Americans have filed for unemployment benefits as of April 23 as a result of the economic fallout from the coronavirus pandemic. And many of them are discovering what plenty of people already knew: our system is dysfunctional.

Although unemployment programs are run by the states, which means the quality varies from place to place, across the country, the broader social welfare system in this country is generally hard to access: riddled with red tape, and plagued by pointless burdens.

In Florida, for example, the previous Republican governor, Rick Scott, created a congested unemployment system that was nearly impossible to use so that the unemployment numbers would remain artificially low. Other states try to run an efficient system but simply lack the capacity to do so.

https://www.vox.com/policy-and-politics/2020/4/24/21225254/coronavirus-unemployment-benefits-pamela-herd

It just does not need to be this difficult…..maybe now the voters will start to pay attention to the spineless fools they elect to represent them…..I did say “maybe”……

The post pandemic economy will look different than it did…..

We have a lot of economist type people telling us how awful the economy will be once we get through our near-term shutdown period. At the risk of being accused of unwarranted optimism, I am not sure I buy the pessimists’ story.

Before saying anything about the economy, we have to outline where we think our containment efforts are headed. I will throw out my story, which people here who know what they are talking about can correct.

Let’s assume that after two months we have the coronavirus reasonably well-contained. People are still getting sick, but the numbers are much more manageable so that our hospitals are no longer overflowing and health care personal are no longer being worked to exhaustion and beyond.

The Post-Pandemic Economy

The indicators are there…..the change that so many have been looking for for so long is within grasp….all we Americans need to do is reach out and embrace the change that is needed…..not some spineless reform but actual change.

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One More Stim Bill

That title would make a great blues tune…..but that is just wishful thinking on my part.

Yep we have yet another stim bill that will help the economy to try and live through this pandemic….

Congress and the White House reached a deal on a new $484 billion coronavirus relief package in late-night talks and it sailed through the Senate on Tuesday. The package includes around $310 billion for the Small Business Administration’s Paycheck Protection Program, which ran out of money last week after approving at least 1.7 million loans. It also includes $25 billion for coronavirus testing and $75 billion for hospitals, along with $60 billion for emergency disaster loans, the Hill reports. Leaders from both parties hammered out the deal with Treasury Secretary Steven Mnuchin and other administration officials. “The Senate is continuing to stand by the American people,” said Senate Minority Leader Mitch McConnell after the measure passed unanimously.

This is the fourth coronavirus relief bill, and the second-largest. Around $60 billion of the money for small businesses will be earmarked for “under-banked” neighborhoods and rural areas. President Trump said he would sign the measure. “I urge the Senate and House to pass the Paycheck Protection Program and Health Care Enhancement Act with additional funding for PPP, Hospitals, and Testing,” he tweeted, adding that after he signed the bill, discussions would begin on fiscal relief for state and local governments. Rep. Steny Hoyer, the House majority leader, said the House would vote on the measure Thursday, the AP reports. He said the House would also vote on a measure to allow proxy voting while the COVID-19 pandemic continues, a measure that some GOP lawmakers oppose.

The big selling point was that this plan would help rescue small business…..some will get a little assistance but there are some multi-million dollar corporations that will siphon off these funds as well……

Companies with thousands of employees, past penalties from government investigations and risks of financial failure even before the coronavirus walloped the economy were among those receiving millions of dollars from a relief fund that Congress created to help small businesses through the crisis, an Associated Press investigation found.

The Paycheck Protection Program was supposed to infuse small businesses, which typically have less access to quick cash and credit, with $349 billion in emergency loans that could help keep workers on the job and bills paid on time.

But at least 94 companies that disclosed receiving aid since the program opened April 3 were publicly traded, the AP found, some with market values well over $100 million. And about 25% of the companies had warned investors months ago — while the economy was humming along — that their ability to remain viable was in question.

By combing through thousands of regulatory filings submitted through Monday, the AP identified the 94 companies, or their subsidiaries, as recipients of a combined $365 million in low-interest, taxpayer-backed loans.

https://apnews.com/6c5942eec36cc43b25ad5df5afebcfbd

The term small business is used to make this bill more confusing….the funds are not so much for the Mom and Pop operations but rather those multi-million dollar corporations that have NO contingency plans for times of chaos.

My opinion is “tough nuggies” let them suffer…..they put the future in jeopardy to make stock trades to make them look better than they are.  Let them die!

A true small business needs to be helped….corporate maggots do not.

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Closing Thought–17Apr20

One of the sad things around the Covid-19 is the loss of small businesses….here I am talking about the Mom and Pop operations that are being hit the hardest by the pandemic.

But not to worry the government is here to help…..with some stim money and interest free loans and I am sure something other or else…..

But sadly all is not going well for the help these businesses need…..

Millions of small businesses are barely staying afloat amid the coronavirus pandemic, and the feds are offering help—but getting that help is another thing, the New York Times reports. Two federal efforts, the Paycheck Protection Program and the Economic Injury Disaster Loan program, are both low on funds and swamped with requests. The Paycheck program is embroiled in a partisan political battle on Capitol Hill over how to add another $250 billion, per the Washington Post, while applicants to both programs are fighting red tape or waiting for their funds. It’s a huge topic, but here’s a primer and a few tips for applicants:

  • The Paycheck Protection Program has $349 billion to incentivize banks to grant small-business loans. The loans need to be repaid at an interest rate of 1% over two years unless certain metrics are met for retaining employees—at which point a loan is forgiven by the feds, per the Times.
  • The Economic Injury Disaster Loan Program is designed to offer loans up to $2 million, but recent applicants say the cap is now $15,000 as requests flood the program. According to a fact sheet, the interest rate is 3.75% for small businesses without available credit elsewhere, and 2.75% for non-profits.
  • The Times advises Paycheck applicants to apply in off hours and remember two things: It might be better for companies with workers who are higher-paid or can work at home; and worse for businesses that don’t know when they can re-open, like restaurants and bars.
  • Forbes gives hard-hitting advice “to avoid going to prison” over a Paycheck program loan. Stung by fraud related to Katrina, TARP, and other programs, the feds will prosecute scammers.
  • At BizJournals, expert James Lozano suggests asking a bank or credit union for advice before proceeding with either program—and says “larger small businesses” might want to apply to both.
  • My biggest advice is take away the fear,” Tennessee realtor Matt Golley tells WAAY TV. “Let someone else walk you through the process and tell you what you need and make sure it’s submitted correctly. I don’t know how to submit documents like that to the government and the bank took care of that for me.” Golley says he’s been approved with the Paycheck program but hasn’t seen the money.
  • Whatever path is taken, expect frustrating delays. “Essentially, there’s a massive bottleneck in trying to get this money, incredible demand and not the ability to get it out,” says a reporter on PBS Newshour.

Another clusterf*c k this pandemic has created and the government has little solution……

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Closing Thought–09Apr20

The die has been rolled and small business should get their stim money soon…..and now there are others that are trying to claim some of the cash…..religious groups.

WASHINGTON — Prominent US religious groups clashed Friday over an administrative rule that allows funds from the coronavirus stimulus bill passed last week to go to houses of worship reeling from the economic shock of the pandemic.

The Small Business Administration (SBA) unveiled its final interim rule Friday morning that said religious groups will be eligible for funding under the CARES Act, a $2.2 trillion emergency relief package that US President Donald Trump signed into law.

The Interfaith Alliance, a Washington-based nonprofit that advocates for religious freedom, criticized the move as crossing the boundaries between religion and state.

“This is a direct violation of the separation of religion and government,” said Katy Joseph, the group’s policy and legislation adviser. “Emergency assistance funding is supposed to help small businesses pay their employees during an economic crisis – not channel taxpayer dollars to private religious institutions.”

Not everyone agrees. The Orthodox Union advocated heavily for provisions that would help religious nonprofits stay afloat amid the pandemic.

https://www.timesofisrael.com/religious-groups-clash-over-us-government-giving-virus-aid-to-houses-of-worship/

These groups do not pay taxes so they should not expect the government to bail them out…..they whine at the thought that they might have to pay taxes….yet they want free money to keep themselves going…..screw them!

I agree it would be a violation of the separation of church and state……

Any thoughts?

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It Only Works For The Wealthy

We now have a new stim plan that will help (supposedly) all aspects of society……and yet I have my doubts.

You know some of the rhetoric and the actions taken during this trying time smacks a lot like the 2008 crash “solutions”…..

Seriously! It all sounds too damn familiar.  Think back to 2008…..

From December 2007 to November 10, 2011, the Federal Reserve, secretly and without the awareness of Congress, funneled $19.6 trillion in cumulative loans to bail out the trading houses on Wall Street. Just 14 global financial institutions received 83.9 percent of those loans or $16.41 trillion. (See chart above.) A number of those banks were insolvent at the time and did not, under the law, qualify for these Fed loans. Significant amounts of these loans were collateralized with junk bonds and stocks, at a time when both markets were in freefall. Under the law, the Fed is only allowed to make loans against “good” collateral.

Six of the institutions receiving massive loans from the Fed were not even U.S. banks but global foreign banks that had to be saved because they were heavily interconnected to the Wall Street banks through unregulated derivatives. If one financial institution in this daisy chain of derivatives failed, it would set off a domino effect.

The Dark Secrets in the Fed’s Last Wall Street Bailout Are Getting a Devious Makeover in Today’s Bailout

The article sounds all too familiar.  The wealthy gets the bailout and protection and the people get crumbs and lies.

The American people are now starting to think that maybe the wealthy will get the good news more so than them…..

New polling out Wednesday backdropped by the continuing coronavirus outbreak shows that most of the country believes the U.S. political system works only for the wealthy and elite rather than for working people.

In a survey of 1,002 Americans taken by The Hill/HarrisX, 57% of respondents said they believe the political system serves the interests of the wealthy and powerful versus 32% who said it works for all Americans.

Low-income Americans were more likely than people who are well-off financially to say the system works for wealthy insiders—61% to 55%. Women were 12% more likely than men, and Democratic and independent voters were more likely than Republicans to say the U.S. government is designed to serve elites.

https://www.commondreams.org/news/2020/04/01/coronavirus-spreads-poll-shows-nearly-60-us-believe-political-system-designed-solely

Really?

Bloggers like myself have been telling the American people this very thing for, in my case 14 years, and now they see it…..better late than never, as they say.

Sad part is when all this is over those same people will return to voting for the spineless slugs that work for the corporations and wealthy…..what does that say about the voter?

More sad news waiting to happen…..

Critics slammed the Trump administration for considering “rewarding vulture capitalists profiting off a crisis.”

As desperate workers, the unemployed, and small businesses struggle to obtain benefits authorized under the multi-trillion-dollar coronavirus stimulus package President Donald Trump signed into law late last month, the White House is reportedly considering an additional slate of aid measures that critics say would disproportionately favor the wealthy while providing little relief for those most in need.

The Washington Post, citing two anonymous officials familiar with White House discussions, reported late Sunday that the Trump administration is weighing “a payroll-tax cut, a capital-gains tax cut, creating 50-year Treasury bonds to lock in low interest rates, and a waiver that would clear businesses of liability from employees who contract the coronavirus on the job.”

https://www.commondreams.org/news/2020/04/06/smash-and-grab-economics-trump-white-house-weighing-tax-cut-rich-investors-workers

Yet more help for the wealthy while us peasants struggle to pay bills and eat……but what can you expect from capitalism?

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Your Stim Check

This is info for those Social Security recipients like myself…..good news is that your check is in the mail (or will soon be)…..

One of the biggest challenges the Treasury Department has in getting Americans their checks from the $2.2 trillion coronavirus stimulus package is tracking down people who don’t file tax returns. Now, at least one key group of nonfilers will see that process expedited. The official word, delivered from Treasury Secretary Steven Mnuchin in a statement late Wednesday, per NBC News: “We want to ensure that our senior citizens, individuals with disabilities, and low-income Americans receive economic impact payments quickly and without undue burden. Social Security recipients who are not typically required to file a tax return need to take no action, and will receive their payment directly to their bank account.” Those who don’t have direct deposit info on file with the IRS will receive a paper check.

The move is a reversal of the original IRS wording, which noted seniors and those with low incomes would have to file a “simple” tax return to get the money. Americans can expect to receive an amount that starts out at $1,200 per individual and $500 per child; it starts phasing out for anyone who makes $75,000 or more per year and disappears altogether at $99,000 (double that for married couples), per recent tax returns. Meanwhile, NBC notes that people who owe back taxes or who have delinquent student loan payments won’t be penalized and will receive their stimulus payment in full. Who won’t be getting the funds, or at least not the full amount: anyone who owes child support. Mnuchin has said direct deposits will begin showing up on April 17, with paper checks sent in the mail to follow, per the Washington Post. CNN notes the payments won’t be taxed, according to the IRS.

Remember all those sanctimonious d/bags that hate those that look for free stuff from the government….how many do you think will send their free money back because they do not want “free stuff” from the government?

One more thing my wife took a picture of me while I wait for my check…..

Image

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883 Page Later

By now the media has been running hour after hour of just how much the new stim plan is needed to protect the people of the US……..well that is bullshit.

Of course that is just my opinion.

But for full disclosure here is the monumental piece of work…all 883 pages of it.

Yikes, the text of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) has been released (full pdf below).  The Senate took H.R.748 stripped it out, and replaced the text with this bill.   The full 50 page senate record of the activity is available here.

Digging in now.  However, at first blush the size of the spending seems to be a considerable state budget deficit bailout [similar to how Obamacare removed the healthcare pension liabilities from unions].  Here’s the BILL:

https://www.scribd.com/document/453273118/Cares-Act-Final-Text
 
It is a long read but well worth to see just what games were played…..
 
It points to the capitalism’s response to the pandemic…..

In fact, the paltry bill does nothing for 80 percent of workers, exempting both large employers and small companies that claim hardship. Members of Congress argued that allowing paid sick leave would encourage sick employees to stay home—which is precisely the purpose of the program. As a result, workers will be forced to choose between going to work sick and endangering their coworkers or forcing their families to go hungry.

Nothing will be done for workers threatened by the deadly pandemic. But when it comes to bailing out the banks and propping up share values, there is no limit to the resources the government is willing to mobilize.

https://www.wsws.org/en/articles/2020/03/16/pers-m16.html

In case you still do not understand this thing…..maybe this will help…..

more than $2 trillion that has already been pledged to backstop the values of financial assets held by major banks, Congress is debating an additional $2 trillion bailout package.

The vast majority of that proposal consists in various handouts to business in the form of a payroll tax holiday and loans, including measures specifically targeting the airline and other industries. Less than $50 billion of the bill funds emergency measures to combat the pandemic. Just one company, Boeing, is demanding a bailout larger than every public health measure contained in the bill.

While the Republicans and Democrats haggle over details of the bailout, they agree that 1) massive sums of money must be funneled through the major corporations; 2) that no measures be taken that limit or threaten the wealth of the executives and large investors; and 3) that the interests of the capitalist profit system and private property will remain unmolested and unchallenged. The banks and large corporations will not only continue to rule. These institutions and their executives and large shareholders are to emerge from the crisis richer and more powerful than ever.

The New York Times declared in an editorial published yesterday, “The only practical way to limit mass unemployment, and to preserve previously viable companies, is for the government to pump money into the private sector.”

(wsws.org)

If you prefer a graph to make it simpler….

$2.3 trillion in total funding was allotted as follows:

  • 54% to corporations and small businesses through loans, grants and tax cuts
  • 26% to workers and families, including 2% to safety net services
  • 8% to hospitals and other health-related spending
  • 7% to state and local governments
  • 1% to education services
  • 4% to other services

(commondreams.org)

We still believe that corporations need all this cash…..and families deserve a pittance…..health related gets 8%………parties all around for Wall Street and funerals all around for the rest of us.
 
 
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