were is the money comin from

[old2soon]

          The fed gubmint been deficit spending for I have NO idea how long. Now they are talking trillions billions and a couple paltry millions for us poor unwashed. We gonna borrow more from china? The oil sheiks? putin? I guess I iz curious Where the money will be supplied from. Not like the fed gubmint has a cash surplus to take care of emergencies such as we are in now. The gubmint pisses it away faster then they take it in. Bad enough a certain party tries to hold up bills to further their own agenda and in no way shape or form to help the poor unwashed. Anybody sides me feel like they are on a runaway fully loaded train downhill with no brakes?  RIDE SAFE

[Rams]

All that money is being borrowed from future years of revenue, most likely from the next few generations.   Pretty sad IMO.   Expect to start paying that "Free" money back next tax year, maybe not all of it at once.  But, the money has to come from somewhere and they will not only want be will need it  back.   They still want to increase Entitlement pay and benefits.  

Rams  

[Valkorado]

Easy-peasy!

[LB]

They're not going to borrow it from anyone, They are simply going to print it, period. 

[old2soon]

They're not going to borrow it from anyone, They are simply going to print it, period. 

         So much like rhetoric from deception central no substance?  And I M H O that no substance is on either side of the aisle. RIDE SAFE.

[cookiedough]

this 1200 or 2400 stimulus check is nothing.  Heard that if passing Congress,  another 2 grand per month for say next 6 months will be coming our way. 

Some people need it am sure, but not all of us.  I think that 2K per month, if passed,  should be given to ONLY those loosing their jobs permanently.    Sorry, 2K per month is more than what some make per month net pay.  that is a LOT of money 'just to get buy'.

I cannot wait to hear all the bigger shots at work today getting ONLY 370 week Pandemic Unemployment Assistance pay which is not much less than what I would get if on regular unemployment. vs. others who make say 20-30 hr will ONLY get the same 370 MAX per week.  Poor babies for once we all treated as equals....    That extra 600 per week though on top of that 370 max thru WI unemployments means the weeks I am off work I am very rich. 

[Serk]

Let's hope we put the brakes on before our economy goes the way of Weimar Germany, Zimbabwe, Venezuela and every other country that tried to make things better by creating money out of thin air, causing extreme hyperinflation and devaluing their currency to the point it became worthless.....

Those who do not study history are doomed to repeating it.
Those who DO study history are doomed to watching it be repeated.

Stock up on previous metals - gold, brass, lead.

https://en.wikipedia.org/wiki/Hyperinflation

[old2soon]

        I remember reading and seeing pictures of Germany when they were in the midst of the hyperinflation. Some would prepay for a meal at a restaurant and by the time they had been in line for 15 or 20 mins waiting to git inside that meal may have doubled tripled or quadrupled in price. Large stacks of paper money that were better used as butt wipe. I fear we gonna self destruct from within. WHAT are we leaving Our Children Grand Children Great Grand-well you git the idea. Also seen pictures recently from somewhere in India I believe where kids were pawing thru a huge trash pile looking for food or something to salvage and sell. At the present time my Family are in comfortable homes with Decent food on the table. How long dat gonna last?  We crow about the low gas prices but now the oil companies lookin to be bailed out. We got any buckets left without holes?  RIDE SAFE.

[carolinarider09]

"The only thing necessary for the triumph of evil is for good men to do nothing."

Edmund Burke

While the term "evil" is not necessarily accurate when it comes to what is happening now, the thought is spot on.

Many sit and say to themselves "that is wrong" or "that should not happen".

We all have a voice.  And where there is one voice there are usually many.  Write your Congressman, write the President, write your state Governor, write your state and county representatives.  Let your voice be heard.  

Stand for what you believe.  But be willing to learn.  Taking nothing for granted, just because it has been uttered by someone with a title or even a degree.  Do your own research.  Trust the concept of being rational even in the face of "informed opinions".  

Understand the source of comments being made.  Look for the logic behind a comment.  

As for the stimulus money, if you don't need it, give it a worthy charity or group (by worthy I mean one that actually gives gives away 80% of the funds received and does not spend it on advertising, salaries, ect.).  There are many good sources for this information.  

But the real answer is to open up our economy.  Restore liberties and freedoms.  Then you don't or won't need as much of the "free" money.

[Patrick]

Those who do not study history are doomed to repeating it.




We're getting pretty good at that. The repeating part that is.

[Patrick]

I like what Art Laffer has to say, especially about the current mess we are getting ourselves into.

[Oss]

+1 Carolinarider

I believe (YMMV) that when interests rates approach zero there is less danger from
short term printing of money to cover expenses.

Better, true to have a surplus to use

For instance Indiana has a surplus
Illinois has a Big As$ debt

Similar except for Chicago and its corrupt machine (yes it is a democratic machine in charge )

Would rather see what help can go to business and people in short term and open
the damn economy up before too late.


When the doctor does a heart operation there is a limit to how long the heart can be on bypass

Same with the economy

We have to get it open soon, if lives are lost well I have heard many times that
the military says 20% loss in a combat operation (like an invasion) is acceptable.
  We are worst case looking at 5%  Flu takes how many every year anyway?
people getting killed by cars take how many?
Smoking takes how many?

Hope they are all politicians that go   Then the surviving politicians can go after China.  Time to end any dependence on them just like we are now oil independent

[Moonshot_1]

The solution.
Lottery tickets.
350 million lottery tickets. All 10 billion dollar winners.
That is 350,000,000 X 10,000,000,000  which equals 3,500,000,000,000,000,000 of which the government would tax at a 70% rate at everything over 70,000.  Government would get 2,400,000,000,000,000,000 and we each would get 900,000,000,000,000.
Don’t need to print any money. Just lottery tickets. Problem solved.

[Rams]

They're not going to borrow it from anyone, They are simply going to print it, period. 

While that is essentially true, the end result is, the dollars you currently have lose value with every “printing” and thusly making it tougher on us and future generations.   And don’t expect that un-earned income to not bite us all in the butt.

Rams

[shortleg]

  It will help when we tell the Chinese that they can go suck an egg
if they expect us to repay our dept to them.
   We should just tell them that is what it cost us so we are charging you.
 That should help a bit.

[Valkorado]

I think we're indebted  $1.1 trilion to the bastards.   We've spent so much more already .   We've lost lots of lives.   I'm thinking more.  Lots more.

https://www.investopedia.com/articles/investing/080615/china-owns-us-debt-how-much.asp

I'm starting to question the last sentence here:

"The average American is made better off by foreigners providing cheap services and only demanding pieces of paper in return".   

Hmmm.

Maybe it's time we shun this thinking,  at least when of comes to China.   Maybe India could produce our cheap plastic crap?   And make all essential goods,  medicines  etc.  right here on the good ol' USA for goodness sake!

[Rams]

They're not going to borrow it from anyone, They are simply going to print it, period. 

The new taxes coming to finance all that stimulus spending
https://www.aol.com/article/finance/2020/04/29/the-new-taxes-coming-to-finance-all-that-stimulus-spending/24139904/

I'm thinking this is darn close to paying back a loan or what was once borrowed. 

The rest of the problem is, once a tax in put into place, it's almost never rescinded.   We suck it up and learn to live with it.   Which promotes even more spending.   

Rams

[..]

They're not going to borrow it from anyone, They are simply going to print it, period. 

The new taxes coming to finance all that stimulus spending
https://www.aol.com/article/finance/2020/04/29/the-new-taxes-coming-to-finance-all-that-stimulus-spending/24139904/

I'm thinking this is darn close to paying back a loan or what was once borrowed. 

The rest of the problem is, once a tax in put into place, it's almost never rescinded.   We suck it up and learn to live with it.   Which promotes even more spending.   

Rams

They just can't help themselves. It's pathetic. From the linked article.

Most advanced nations have a VAT tax

[Robert]

The deficit will now hit at least $3.7 trillion this year and $2.1 trillion next year, according to the Congressional Budget Office. Dropping even with the bail out, according to the article Rams posted.

There is so much happening in the world today that could change things that I am not to worried at this point. One thing for sure Trump is not big on taxes so I doubt like most politicians this will be used to cover the expenditures.

Trump now has control and headship of the Federal Reserve also and may have plans to saddle them with the debt, a private corporation by the way. At that point he could stand back and watch them implode. 

More companies may move to the US also since China has proven problematic in some areas and the US should supply many of its own essentials instead of relying on foreign countries.

The US is suing China to help to recoup some finances due to their negligence.

Trump has closed the boarders in part so that US workers cannot be replaced.

Trump has said he made the best economy in history and will do it again.

If a normal politician had been at the helm I would have been more worried about the debt than now. Trump is not scared by big numbers and knows many ways to keep things going.

I believe he has a plan, I believe we are in the best spot possible for resources, and a leader.

Could anyone ever imagine a barrel of oil selling in negatives.

So many things happening, so many variables, so many positive things and we have a leader that is a business man not a politician and someone who is used to making changes inside a corporation.

Now is Trump a miracle man, no, of course not but I am confident in his ability to shape a secure financial future for this nation and not eliminating the middle class like previous admins were doing.

He has cut off the drain of the WHO

He has cut the drain of the Paris Accord

He has stopped legislation that would put carbon taxes on corporations

He has said that ALL nations have to start to pay their fair share of the UN, Nato and other organizations.
 
He has used his legislative power to get the US ventilators and masks and even said corps have to produce and use their products for the good of the US, or else.

I in my lifetime have never seen a president do this under any situation.

We have seen Trump target media companies, internet companies and so much more so that he has essentially got the public to understand "fake news".

I cannot imagine what this outbreak would have been like under another admin knowing the hype of the media and the power grabbing of the states.

I dont have to tell anyone who has a budget that you cut off all non essentials and that is what Trump has done and continues to do.

He has sent Barr to tell the states they had better rethink their position on the peoples rights.



Heck we never thought we would see someone admit to the headline below either yet its in the news, so have a hope that we wont get screwed like the past.


Ex-Top FBI Official Admits Hillary Wasn't Indicted Because They Thought She'd Win 2016 Election  

[old2soon]

             I M H O we-AMERICA-depend far too much on china for everyday "stuff" and Extremely important "stuff". The V A pays for my O2 supplies sourced from an outside supplier based here in Missouri BUT every cursed piece of O2 equipment is manufactured in china.  I understand at the start of the c19 bull crap we were shorton and may still be short on P P E cuz most of it is sourced from-drum roll please-china.  Heard this a few times while in Service to Our Country-when ya got em by the short hairs their minds and bodies will follow. Again I M H O china has had us AMERICA by the short hairs far too long. Far as AMERICA goes we used to be a manufacturing juggernaut. I've also noticed couple of States are attempting a staged reopening as it were. AMERICA needs to play Our cards right and if not totally eliminating Chinese manufacturing lowering Our dependence on them by at least 80%. And DEMAND reparations from china for them NOT informing the world when this china devils brew was unleashed on an unprepared and unsuspecting world. And should china come up with a c19 vaccine should we trust it? RIDE SAFE.

[G-Man]

Let's hope we put the brakes on before our economy goes the way of Weimar Germany, Zimbabwe, Venezuela and every other country that tried to make things better by creating money out of thin air, causing extreme hyperinflation and devaluing their currency to the point it became worthless.....

I've been trying to explain this to a few folks I know who keep referencing this Yang guy who wants to give free money away.

[old2soon]

            Also as far as shutting off AMERICAS money faucet if any country we give money and arms to or wants to take us out shut em off from Our money. Any of the populace in a country we give money to burns Our AMERICAN Flag shut off the money faucet. Really simple-they no like us shut off the money faucet. Solves a Lot of AMERICAS problems here at home by Not hemorahging money to foreign countries cuz we always have. I recall what a royal P I A it wuz filling out the paperwork for my first home mortgage. Thinkin here after all that has transpires and continue to transpire that AMERICAS money alone can NOT cure the entire world. And yet with our country in turmoil we continue to piss money away like we have far too much of it.  RIDE SAFE.

[3fan4life]

Pass legislation that allows all 50 states to legalize marijuana.

Tax the crap out of it and direct all taxes collected from it to the National Debt until it is $0.

It would take 10 years max.

I have no problem with a "Sin" Tax, I pay it on every bottle of liquor that I buy.

[3fan4life]

Let's hope we put the brakes on before our economy goes the way of Weimar Germany, Zimbabwe, Venezuela and every other country that tried to make things better by creating money out of thin air, causing extreme hyperinflation and devaluing their currency to the point it became worthless.....

I've been trying to explain this to a few folks I know who keep referencing this Yang guy who wants to give free money away.

Yang's talking points sound a lot like the Fair Tax.

If the Fair Tax were to be implemented properly I am all for it.

In it's true form the Fair Tax institutes a 15-25% National Sales tax.

But, all other payroll taxes are done away with.

So everyone working gets a 20-30% raise in take home pay.


The problem is that most politicians want to implement it as an additional tax, which is what a VAT is.

This I am vehemently opposed to.

[..]

You do not want a frickin VAT.

England did it and prices skyrocketed.

It started at 17% and now it's 20%

Do you really want to pay an EXTRA 20% for a TV, pair of shoes etc?

Do you really believe that other taxes will be reduced or terminated?

I've got a bridge in Brooklyn for sale.

https://www.gov.uk/vat-rates