Washington’s hard at work figuring out how much it’s going to print and spend along with deciding who gets what…
(Silver Doctors Editors) America and Americans are broke.
Why are they broke?
Well, if you believe the hype, Trump
continues to drive our nation into the grave made America great again, less than two years into his presidency, but during the process of destroying America even more making America great again, we didn’t include the discipline, foresight or intelligence to put away any savings for the future, at any level, from the federal government right down to the individual American.
Of course, when all our government knows how to do is urinate on the US Constitution when it’s not spending unbacked, debt-based fiat currency the government doesn’t actually have in savings, how are we as a People to act any differently?
We’re not, so the people are broke and the government’s broke, and to mix things up a bit, we’ve got one major economic collapse going on.
In other words, we’re close to the point where the government begins throwing massive amounts of funny money at this worsening financial crisis.
For now, the word in the grapevine is to the tune of $850,000,000,000.
From Fox News:
White House officials and congressional lawmakers are signaling they will attempt to push through a third coronavirus spending package worth hundreds of billions of dollars even as the Senate works to move along the more modest second relief bill that focuses on leave for workers and expedited testing for the disease officially known as COVID-19.
Fox News has learned that the White House specifically is pushing an $850 billion stimulus, largely in the form of tax relief measures.
Roughly $500 billion of this would be tied to a payroll tax cut, while $250 billion would come in the form of Small Business Administration loans and another $58 billion would be directed to the airline industry, among other measures.
Treasury Secretary Steven Mnuchin will attend the Senate GOP’s weekly policy lunch Tuesday — which will take place in a larger room that it usually does so the senators can practice social distancing — to discuss the details of the comprehensive coronavirus proposal from the White House.
“I’m not going to comment on the numbers now. But it’s a big number,” Mnuchin told reporters Monday night.
The Washington Post first reported Tuesday morning that Mnuchin’s proposal would come with the $850 billion price tag. The Post, citing anonymous sources, reported that Mnuchin’s proposal would focus mainly on putting cash in the hands of individuals and businesses.
For those who prefer the communist slant of the false left-right paradigm, here’s CNN:
(CNN)Senior Trump administration officials urgently pressed GOP senators to approve a House-passed bill to deal with the coronavirus pandemic — and quickly act on a major economic stimulus package amid growing fears that the outbreak could send the country into recession.
In a closed-door meeting Monday night, Treasury Secretary Steven Mnuchin urged GOP senators to get behind the House bill, which had prompted growing Republican concerns in recent days, with top officials warning the economic situation is too precarious and the threat to public health too severe to let the measure hang in limbo for days.
The cost of the new package will be roughly $850 billion, a source briefed on the matter tells CNN, and will include aid to small businesses and airlines. It’s expected to include the White House’s request for a payroll tax holiday, something that could cause a fight on Capitol Hill.
Asked what the Senate would do when it officially receives the House bill, Senate Majority Leader Mitch McConnell told CNN bluntly: “Pass it.”
In the meeting, Mnuchin told GOP senators he would present more details during a Tuesday lunch about the Trump administration’s proposal for the next economic package. He also told senators to get behind the House-passed measure, which would ensure individuals have access to free testing for the disease and displaced workers have access to paid leave, bolster unemployment insurance benefits, expand food stamps and increase federal funding for Medicaid programs.
The warning, GOP senators suggested: Act now before it’s too late.