Stimulus & Bailout Watch Thread

Leavingtheecstasy

Leavingtheecstasy

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Scholar said:
I can understand why she turned down the deals in the Fall. Didn't want to give Trump a potential bump. She was banking on dems cleaning up in senate races. However, can't forgive her for failing to secure state and local funding during the spring.

At this point dems absolutely have to take a deal but they should drag this out if it means they can get more for their constituents. They can't bet on Georgia like they did with the senate races in November.

If dems don't get Georgia, it's a wrap. However, there are still a things Biden can do without the senate /Day 1 Agenda
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What can he do day 1?
 
FAH1223

FAH1223

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Piff Perkins said:
Delusional bullshyt.
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How about this?
Unsanitized: Crawling Toward a Deal on COVID Relief

The money cannon: This is frankly the dumbest point of contention. Sen. Pat Toomey (R-PA) wants to rescind the authority for the Federal Reserve’s corporate credit facilities, reducing the flexibility for the incoming Biden administration’s Fed to lend to medium-sized businesses or state and local governments. This is now being termed the main stumbling block to a deal.

The Fed has had nine months to use that lending authority, and they’ve done next to nothing with it. The “Main Street Lending Program” is mostly an oil and gas lending program. The state and local lending has yielded two loans, and the Fed leadership appears ideologically opposed (and conflicted with the muni bond industry) to doing more. Furthermore, the Fed has the tools to undertake this lending anyway, through Section 14(2) authority.

Yet Democrats are going to great lengths to paint Steven Mnuchin as a schemer (hey if the shoe fits) bent on sabotaging the next president. Republicans don’t exactly have good intentions here, but the Fed’s actions haven’t really done much for regular people, either. Thanks in part to propped-up asset prices, 45 of the 50 biggest companies made money during the pandemic, laid off workers and leaked cash out to shareholders. Corporate bond-buying has pushed investors to seek high returns, and is facilitating private equity dividend recapitalizations, another extraction tool to loot companies.

These facilities will not be missed. They have almost exclusively fattened the wallets of the investor class, and there’s no reason to think they would suddenly benefit the average worker. Especially when, rhetorically speaking, proceeds from the money cannon are being distributed to people who need it. I can’t think of anything less worth fighting for.
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Anyway, it seems that that the 'compromise' language is being touted as a W for both sides.
 
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Kingcobrakai

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ADevilYouKhow said:
they don’t, we can’t let them off that easy, they know they’re bankrupting states and municipalities, it’s happening in their states too
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If the Dems take the Senate and whomever is majority leader says “We will not accept any bills, resolution, or amendments from any Senator from a welfare state that is near bankruptcy in 2022 because they should not have any say in how we balance the budget and how we spend taxpayer money”, McConnell’s (and Rand Paul’s) butt would pucker so quick.
 
newarkhiphop

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Killah Ray said:
I don't care who your local congressman or senator is, you should their office and let them know they're a bytch and should be charged with treason against the United States because of how bullshyt this bill is...
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school me, what's bullshyt about it
 
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