Another stimulus bill in line for the US

[philipma1957]

WASHINGTON — Advisers to President-elect Joseph R. Biden Jr. are planning for the increasing likelihood that the United States economy is headed for a “double-dip” recession early next year. They are pushing for Democratic leaders in Congress to reach a quick stimulus deal with Senate Republicans, even if it falls short of the larger package Democrats have been seeking, according to people familiar with the discussions.

Until now, Mr. Biden, Speaker Nancy Pelosi of California and Senator Chuck Schumer of New York, the Democratic leader, have insisted that Republicans agree to a spending bill of $2 trillion or more, while Senator Mitch McConnell of Kentucky, the majority leader, wants a much smaller package. The resulting impasse has threatened to delay additional economic aid until after Mr. Biden’s inauguration on Jan. 20.

Many of the president-elect’s advisers have become convinced that deteriorating economic conditions from the renewed surge in Covid-19 infections and the looming threat of millions of Americans losing jobless benefits in December amid a wave of evictions and foreclosures require more urgent action before year’s end. That could mean moving at least part of the way toward Mr. McConnell’s offer of a $500 billion package.

Apparently the US economy as we all know is falling the president yet again is advised to pass a quick stimulus deal with the senate.

Apparently the president and their team are going to negotiate this 500$ billion to make sure that the public get as much money as they can afford.

Okay , this seems very good , but is spoon feeding the public for this long okay ??

If their budget is "x" let us assume, why don't they distribute "x/2" and use this "x/2" to start new job opportunities for them , they can even help the people to come in terms with the pandemic.

Most of these are going to the people who doesn't even need them, what about that

Shouldn't only the jobless and the people actually in need be benefited by the bill Plus why are aren't they also including the homeless without any house and documents ..maybe make a small centre for them to survive till the pandemic.

People let's share your honest opinion about the bills and what they should be used for?? Is this entirely right ??

source

Well a lot of states in the USA have large restaurant based economy.

In no Particular order.

Florida
New York
New Jersey   have billion dollar restaurant economies.

Texas
California
Illinois have huge restaurant economies.

I picked some states led by dems
I picked some states led by republiacans.

I would say the States I listed have more than 10 million workers in the food industry.

I would bet 3 million are out of work.
They lose unemployment on Dec 26th
So the bill needs to extend them.

Since finding working wont be easy until the summer.

That is just six of 50 states. They do hold around 1/3 of the country people in those six states.

I am sure a guy living in North Dakota thinks  why should they get unemployment extended they can find work.

Well maybe they cant get a job and they certainly did not creat the virus.

A bigger issue is I am talking about 3 million that need help.

But there are 14 million nationwide on unemployment last I looked.  How do we sort the lazy no good pieces of crap that are saying score from decent hard working desperately seeking work people.

Answer we dont we just print more money.  Not going to change I think 24/25 last years government

spending is in the hole 🕳 so this year will simply be a bigger hole. 

[darewaller]

Hopefully. It doesn't look like it is going to happen any time soon and it may not even happen in the future neither. Think about it , Biden could be president and until he is the president Trump and Mitch will not give any money to anyone, they are upset that they lost so they are going to do everything in their power to not do anything that would help the public at all.

After Biden becomes president, if Georgia run-off is not won by democrats that means the senate will be still republican which means Mitch will continue to bury all the propositions under the mountain of papers and we may still not see any stimulus at all. Only if republicans wants to, it could happen and I think they will definitely allow it, but the fact that they may not is scary enough for me.

[stompix]

Well a lot of states in the USA have large restaurant based economy.

This triggered my interest but although the raw numbers do confirm the huge amount of money, percentage-wise, the difference is not that much.
Of course, my info comes from the internet but I say those guys must be accurate since they are the restaurant association:
https://www.restaurant.org/research/state

So, Florida, New York, and North Dakota...and Alaska ...for fun!!

Alaska
$1.8 billion Estimated sales  (4% of GDP) / = 10% of  employment in the state   
Florida
$50.1 billion Estimated sales (5% of GDP)/ = 12% of employment in the state
New York
$51.6 billion Estimated sales (3.5% of GDP) / 9% of employment in the state
North Dakota
$1.4 billion Estimated sales  (2.8% of GDP) / 9% of employment in the state

I'm genuinely surprised by these, so surprised I've double-checked but those are the numbers!!!!! Percentage-wise there is no huge difference between Alaska and New York ...This is unbelievable!

But the numbers are indeed huge when it comes to people employed, 14 million, those are just restaurants, not the entire accommodation industry.
A nation-level lockdown of everything for 6 weeks would be catastrophic.

This may help someone, but in general, those who want to work will find a job, in the USA there are no problems with this.

No problems? I doubt it!
Seeing how you're not there to know the stuff from your own experience, where did you get that info?

[exstasie]

A bipartisan stimulus bill has emerged. At $908 billion it's a compromise between the $500 billion Republicans want and the $2 trillion Democrats want. Notably, a direct stimulus payment is not included: https://www.cnbc.com/2020/12/01/coronavirus-stimulus-update-senators-to-unveil-relief-bill.html

To boot, McConnell is already shooting down the bill so I'm honestly not sure how good the prospects are for stimulus payments at this point. Everyone seems pretty committed to permanently bailing out the unemployed though.

[StyleForceOne]

Apparently the US economy as we all know is falling the president yet again is advised to pass a quick stimulus deal with the senate.
Apparently the president and their team are going to negotiate this 500$ billion to make sure that the public get as much money as they can afford.
People let's share your honest opinion about the bills and what they should be used for?? Is this entirely right ??

I honestly think that it is scary. Not only for US, but for many countries out there who use USD as their secondary fiat option.
There is a chance it won't affect economy as much as we expect, but a lot of lucky events should happen for that to become truth.

[davinchi]

This is really the sad part about getting power from a republican. Senate is republican as well and I doubt Georgia will suddenly flip to both democrats that easily neither, so senate will definitely stay republican for a while. Which means Biden will take over a nation that is brink of a collapse from Trump, remember 2008 when Obama took power in 2009 and basically took over a nation with a crashing economy? Had to bail out 800+ billion dollars worth of banks bail outs? I mean whenever a republican takes over the country, it transitions the nation to a democrat to save it whenever they need to.

Sometimes I hope Trump stayed in power, we would have seen the real trouble and people could have ran away from republicans at that point. Biden now has to find out how to save the nation without hurting the economy but helping people at the same time both financially and medically.