The Progressive-Democrats in Congress held up the last Wuhan Virus Federal aid program for four critical days, led by House Speaker Nancy Pelosi (D, CA) and Senate Minority Leader Chuck Pelosi (D, NY). These persons tried to force inclusion in the aid an array of programs irrelevant to it but central to the Progressive-Democrats’ ideology and platform.
They’re at it again. The new aid effort, currently under way in the Senate, is centered on small businesses and their employees: an additional $250 billion for the Paycheck Protection Program
Oversimplified, really, and beginning with the time frames I use below.
Let’s say the Wuhan Virus situation and the associated stay-at-home moves the several States apply—particularly the latter—lead to a drop in our GDP of 30% (a drop I pulled out of rectal storage and that is a drop being bandied about as the economic cost of Germany’s and the EU’s moves in response to their Wuhan Virus situation).
Let’s say further, that the stay-at-home response lasts for one month and for two months. What’s the so what for these alternatives?
Oregon’s public schools are closed down due to the Wuhan Virus situation, as are most of our nation’s school systems. As a result of that, parents started flocking their children to online charter schools so as to continue their education. The Oregon Education Association, among others, object to that, though. They’d rather the kids sit around at home (because Oregon, like many States, has instituted a stay-home policy for all the State’s citizens and others living there) twiddling their thumbs, making pests of themselves, and otherwise being bored out of their minds rather than continue their schooling. So:
The current version of the Federal assistance to American airlines contemplates the government taking stakes—in the form of warrants convertible to (voting) common stock—in return for sending money to the airlines to help tide them over the disruptions resulting from the current Wuhan Virus situation. There are a number of objections to such a condition, most of them valid. Flight attendant unions have their own objection. They’ve
urged federal officials not to make grants to airlines contingent on government stakes, saying they believe executives would refuse—costing jobs in an industry hard hit by the coronavirus pandemic.
The Wall Street Journal‘s editors are stewing about the Wuhan Virus relief bill that just passed the Senate. To an extent, the WSJ is justified in its concern; $2 trillion isn’t chump change (the editorial was written before the Senate voted the bill up, so details at the link might differ from Senate-passed reality). Couple things about the paper’s concern, though.
The bill includes $250 billion for $1,200 payments to Americans whether or not they’re affected by the virus. The cash will do little or nothing to help an economy closed by government fiat.
House Speaker Nancy Pelosi has buried another item in her 1,400+ page demand list of “relief” supports that she is requiring in quid pro quo for her support for the Senate Wuhan Virus relief bill that her minions in the Senate are actively blocking: $35 million for operations and maintenance for New York’s JFK Center for the Performing Arts. Pelosi’s bill would provide funding for
…employee compensation and benefits, grants, contracts, payments for rent or utilities, fees for artists or performers….
We’re seeing their execution of Rahm Emanuel’s theory in spades these days. The Republican-majority Senate has a proposal in the Senate, agreed in bipartisan fashion with Progressive-Democrat Senators that would aid average Americans and the small, medium, and large businesses—including our farmers and ranchers—weather the government-mandated shutdown of our economy in response to the present Wuhan Virus situation.
The bill would provide loans to businesses to help tide them over the current loss of revenue—many of the loans converted to grants if the businesses retain their employees on the payrolls.
Senate Republicans have a bill in the works that would provide aid to businesses and their employees who are at risk as a result of government-mandated business reduction to minimum production or to outright closure. That plan would provide for
taxpayers to receive up to $1,200, with married couples eligible to receive as much as $2,400 with an additional $500 for every child. Those payments will scale down for individuals who make more than $75,000 and couples that make more than $150,000. Individuals who make more than $99,000 and households that earn more than $198,000 won’t be eligible for direct assistance.
New York City Mayor Bill de Blasio is arguing that the best way to tackle the coronavirus outbreak is for the federal government to take over critical private companies in the medical field and have them running 24 hours a day.
“This is a case for a nationalization, literally a nationalization, of crucial factories and industries that could produce the medical supplies to prepare this country for what we need,” de Blasio told MSNBC‘s Joy Reid on Saturday, calling for “24/7 shifts” during what he called a “war-like situation.”