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How Big will CARES Act 2 Be? 18 members have voted

  1. 1. How Big will CARES Act 2 Be?

    • It won't pass at all
      3
    • $500B
      1
    • $1T
      3
    • $1.5T
      3
    • $2T
      3
    • $2.5T
      2
    • $3T
      3
    • $3.5T
      0
    • $4T+
      0

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Posted

I wanted a thread to talk about the upcoming stimulus, CARES Act 2.  First, predict how big it will end up being.

I chose 3T, but if Biden was POTUS it would have at least 35T.

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$2.5

I thought I was going to be the only one voting it wont pass. Who else?

All these bills are doing is advancing our eventual financial demise as a nation  

2 hours ago, The Norseman said:

All Trumps presidency is doing is advancing our eventual financial demise as a nation  

FYP

10 trillion

It will both way too much, and not nearly enough. Whatever, our grandchildren will pay the tab.

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4 hours ago, The Norseman said:

All these bills are doing is advancing our eventual financial demise as a nation  

Welcome to the last 90 years. 

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From National Review 

Quote

Stimulus 4.0

By DAVID L. BAHNSEN
  •  
  • July 24, 2020 10:40 AM

  • It is clear to me now that Senator McConnell’s strategy of waiting until the last second to take up the fourth stimulus bill was quite purposeful, and that if discussions had begun four-plus weeks ago, it would still have taken until this point to get passed, yet we would have had four weeks of both the House Democrats and the White House adding to it, making it much larger than (as McConnell knows) anything that the Senate would accept.

The "fiscal cliff” is now here, specifically as far as concerns the $600/week of federal supplements to unemployment insurance, and so a deal will get done, but McConnell is confident that a trillion or two (I can’t believe I just wrote that) will be left out that otherwise would be there.

 
 

My predictions after more conversations with Capitol Hill sources and friends:

(1) The unemployment benefit will get extended but phased down, and with income restrictions (Secretary Mnuchin is floating a 70 percent level, so ~$400/week vs. current $600)

(2) There will not be a payroll-tax cut, but there will be conditional corporate-tax credits that the White House will hold out as a victory (particularly, an extension of immediate expensing for R&D, Capex, etc.)

(3) There will be a "second bite of the apple” from PPP for small businesses

(4) And significantly for those who desperately believe businesses need to get their employees back to work and school opened, there will be a liability-protection plan.

Funny (but true) story.  My nephew (17 years old) has a part time job at their local rec center.  He was working like maybe 8 hours a week.  When they went red and the place shut down he couldn’t work his job, obviously.  So the little uker applied for stimulus money.  Yesterday he received a debit card from Uncle Sam with 10 UKIN’ GRAND on it!  He wouldn’t have made 10k working there for two years.

little uker!

48 minutes ago, bobeph said:

Funny (but true) story.  My nephew (17 years old) has a part time job at their local rec center.  He was working like maybe 8 hours a week.  When they went red and the place shut down he couldn’t work his job, obviously.  So the little uker applied for stimulus money.  Yesterday he received a debit card from Uncle Sam with 10 UKIN’ GRAND on it!  He wouldn’t have made 10k working there for two years.

little uker!

Meanwhile I am still waiting on my tax refund. I filed my taxes first week of march. Still waiting to get my money back. 

4 minutes ago, Gannan said:

Meanwhile I am still waiting on my tax refund. I filed my taxes first week of march. Still waiting to get my money back. 

Exactly!  Meanwhile some little 17 year old deekhead gets a 10 G grab.  It’s freaking stupid.  There needs to be a better way of seeing who they’re sending these chunks of money to.  His mom is a teacher (in PA, good $) and his dad is a mechanical engineer.  Yeah, they make the kid work to teach him, like every parent should, but come on!  It’s not like the ukn’ kid was starving because he couldn’t work his minimum wage, after school and weekend job!

17 years old with a 10k debit card?  I’d go buck-wild.

:roll: 

16 minutes ago, bobeph said:

Exactly!  Meanwhile some little 17 year old deekhead gets a 10 G grab.  It’s freaking stupid.  There needs to be a better way of seeing who they’re sending these chunks of money to.  His mom is a teacher (in PA, good $) and his dad is a mechanical engineer.  Yeah, they make the kid work to teach him, like every parent should, but come on!  It’s not like the ukn’ kid was starving because he couldn’t work his minimum wage, after school and weekend job!

i think they were just trying to get something out there quickly.  the wife & i both worked from home through the pa shutdown...didn't miss a paycheck....but we still got the stimulus check. not complaining, btw. :whistle:  

it would make a sheetload more sense to funnel the relief $$$ to the folks who really need it.  but a bunch of politician's friends got $$ for their businesses...so everything's okay. 

31 minutes ago, mr_hunt said:

i think they were just trying to get something out there quickly.  the wife & i both worked from home through the pa shutdown...didn't miss a paycheck....but we still got the stimulus check. not complaining, btw. :whistle:  

it would make a sheetload more sense to funnel the relief $$$ to the folks who really need it.  but a bunch of politician's friends got $$ for their businesses...so everything's okay. 

True dat.  

40 minutes ago, Dave Moss said:

17 years old with a 10k debit card?  I’d go buck-wild.

:roll: 

My sis in-law is having a nervous breakdown about it. :lol: They obviously confiscated the kids debit card, and of course he’s not too happy about it.  Especially, after telling his friends that they were gonna have a night of hookers and blow on him! 

I didn't know pimps and dealers accepted debit cards.

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  • 2 weeks later...
  • Author

Can’t believe this hasn’t passed yet

On 7/29/2020 at 2:52 PM, Shepard Wong said:

I didn't know pimps and dealers accepted debit cards.

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Venmo :whistle:

On 7/29/2020 at 5:52 PM, Shepard Wong said:

I didn't know pimps and dealers accepted debit cards.

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You would be wong

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