Congress incentivizes not going back to work

Well, one aspect of the $2.2 trillion congressional coronavirus stimulus package sure seems counterproductive, if the goal is to get the country back to work.

For those who lost their jobs due to the government imposed shutdown of “nonessential” businesses, the bill provides an extra $600 a week on top of state unemployment benefits for four months. For many lower income workers that will mean they will receive more income for staying home than they were getting while working.

So, for the next four months what idiot would deprive his family of extra income and spend time away from family at an often back-breaking job?

This just prolongs the problems.

Also, pay no heed to the what this round of ongoing stimulus spending does to the deficit. Trump’s entire FY 2021 budget, the highest ever, is $4.8 trillion. This will not end well, if it ever ends.

 

20 comments on “Congress incentivizes not going back to work

  1. Bruce Feher says:

    I’m old school, I can’t wait to go back to work!

  2. Rincon says:

    Same people who criticized the Democrats for spending so much in the Great Recession.
    They’re all over stimulating the economy; the medical part, not so much.

  3. The New Deal prolonged the Great Depression by seven years.

  4. Steve says:

    The depression was extended by lack of Fed action. This time the Fed is going all in, unlimited.
    And it makes sense now since we are no longer tied to a gold standard, the value of US currency is managed by competition with other world currencies.
    Since the federal government is the creator of the currency, this means the federal government has unlimited funds at it’s disposal. State and local governments, not at all.

    Since the feds are all in on liquidity, a depression similar to the 1930’s shouldn’t be able to repeat.
    Of course, this is also dependent on the dollar remaining the worlds reserve currency and the USA maintaining it’s credit rating.

    Considering the condition of the rest of the worlds economies, this does not appear to be a problem for now.

    Bet me what happens first?
    States run out of money forcing economic activity or virus comes under control (getting out of the way)
    Either one starts the economy again. For Vegas, getting the virus under control and out of the way may be the only option. Can’t force tourists to come if they feel like they are risking their health.

  5. Anonymous says:

    Gross.

    No “these self professed conservatives are a bunch of socialists just waiting to line up at the taxpayer trough for their share of the pork”. No, “where does the Constitution provide these republicans with the authority to arbitrarily send all their heroes all the money they’ve ever wanted and all to be forgiven at the whim of the most corrupt right wing politician since Ronald Reagan and his crew of criminals”?

    You’ve gotten so tame these days Thomas it’s like the virus got you or something.

    Rage, rage against the dying of the light. For crying out loud.

  6. Steve says:

    The virus, Patrick, is the common enemy.
    Get on board or get left behind.

  7. Athos says:

    He can’t Steve. He’s one of the millions infected with Trump Derangement Syndrome (TDS). The Chinese Flu means nothing as long as Trump is gone.

    Remember, to their way of thinking, America has survived Recessions and even a Great Depression. But there is no way we can survive 4 more years of Trump!

    Did I get that about right, Annie (little p)??

  8. Anonymous says:

    Trump is evil.

    No good can come from evil

  9. Steve says:

    Evil?
    You want evil?
    8 minutes of pure evil.

  10. Athos says:

    Tom, Dobey Gillis would have been a good one (Maynard – “Work??”)

  11. Athos says:

    Just re watched your film, Steve. Amazing how things change in just under 3 weeks, eh?

  12. Steve says:

    Indeed. Those wet markets remain an ugly way to do meat. They need to go away.
    Wonder what the coming weeks will bring…a reckoning is on the horizon.

    https://www.cnbc.com/2020/04/17/santa-clara-covid-19-antibody-study-suggests-broad-asymptomatic-spread.html

  13. Athos says:

    Maybe some cultures are better than others?

  14. Athos says:

    What bothers me it that the big G has the numbers and the people to figure this stuff out. Hawaii (pop. 1.5million) has had 550 cases with 48 hospitalized and 9 deaths. It’s hard to get the number of hospitalized here in Nevada (over 150 deaths). Didn’t NYC have some crazy stat of for people that died of JUST the virus, with no other underlying factors (although Obesity may have been a factor in this count)?

    I guess CA just passed 1000 deaths but you could still add up all the deaths west of the MISSISSIPPI and not surpass NY.

    I’m hoping Sissy lack opens us up again May 1 (and that especially includes school!)

  15. Steve says:

    All the casinos have their booking sites open and taking reservations.
    This is more so they can gauge potential tourism business. There’s a reason we aren’t hearing any complaining from the big resort industry. They know what things look like. And it’s not good. There will only be some partial, sparse opening even if the Gov relaxes restrictions at the current date.

    What really needs to happen is locals places, all the restaurants, taverns (including gaming) barber shops, stores of all kinds….all these need to be open. This will provide data to show things here are clear or not. Of course, this also requires testing for live infections and antibody. The state must be able to show it is certainly safe to travel here before the tourists will come in numbers large enough to support opening the strip and Fremont St. Like I say, those operations know what their potential is right now. They aren’t calling for opening, yet. But some are looking at June.

  16. Athos says:

    Think of how much revenue comes from the Big Casinos. We’re losing 10s of million$ for each day we are shuttered. How will the state recoup that loss tax revenue? Who’s gonna pay for that new Stadium? Marc Davis?

    I see a massive tax hike in our foreseeable future!

  17. Steve says:

    W/O going concerns, there is nothing to tax. They shut down their tax base.

    This time, they gotta get behind business before they get tax revenues going again.

    Get the popcorn ready, there’s gonna be a whole lotta sudden Democratic support for business an industry in Nevada, never mind the country. Hell I bet they have a sudden change of heart for the Koch’s!

  18. Athos says:

    It wouldn’t surprise me for Congress to come up with the “grab the 401K and IRA of our nations citizens, fold em into the SS” Bill (which means general budget) and pay people a little more SS.

    And hopefully some business leader (or Union Boss) will help Sissylack pull his head out of his rectum and open us up for business, already! With our numbers we should have already started Phase 1 and hit phase 2 before May 4 (Kent State Day! Thank you Trickie Dicky!) Get them kids back in school (if only for 3 weeks)

  19. […] wondered aloud whether the congressional bailout bill giving the unemployed $600 a week would be a disincentive to […]

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