Lawmakers reach deal for $900 billion relief package - Where's this money going to come from?

US lawmakers have reached a deal for a $900 billion relief package for the coronavirus pandemic and associated shutdown.
Where is this money going to come from?

The annual US budget is $4.79 trillion.

Just to put that into perspective, $900 billion is nearly 19 percent of $4.79 trillion.

The US already has way too much debt already.


This $900 billion package includes $600 billion in direct payments to Americans and $300 in enhanced unemployment for the next 10 weeks, according to House Speaker Nancy Speaker and Senate Minority Leader Chuck Schumer.
The deal also includes $25 billion in direct rental assistance and extends the eviction moratorium, $82 billion for education funding, $45 billion for public transit systems and $13 billion for increased food stamps and child nutrition benefits. There were also benefits for small business owners, including $12 billion for minority-owned or very small business, plus $15 billion for theater operators and small venue owners through Save our Stages Act.

 

So, they already passed several bills in the trillions and the straw that broke the back was a stimulus bill in the billions???

 

Trump wants to hike it to $2000 or even $4000 and Pelosi, AOC and Sanders are all for it.

Its like the Geico "I got more" ads.

"I called Trump and I got more"

This will add a trillion more to the debt, so in 4 years the debt has increased $9 trillion. That's rich coming from a guy who promised to pay off the debt.

 

So, throwing trillions at the super-duper uber-rich by buying up their stocks and bonds at peak bubble prices didn't break the Fed, but giving a few hundred billion to ordinary Americans will?

Somehow, I kinda figured it's be something like that....

 

Current national debt PER TAX PAYER is about $220,000. My guess is 5 or 6 of these taxpayers are irritated by US deficit spending and debt and the balance of taxpayers have zero interest in paying higher taxes to pay down debt. Politicians have zero motivation to reduce spending and/or increase taxes because they will be kicked out of office if they do! Bottom line; almost no one cares about deficit spending and/or debt. For the few of us who contemplate the ratios of debt to GDP, or the debt per taxpayer, etc. and get irritated by the numbers, we all need to take a chill-pill because no one else cares!

IMO increased deficit spending and debt is a sign of two things; First, most Americans, and American businesses, cannot weather down-turns in the economy, and second, government spending at all levels is reckless and out of control. It probably doesn't help that millions of Americans do not work and another 50-75 million American workers earn $17/hour or less (median pay is $34K). If the US must compete in a global economy, meaning we can't simply increase everyone's wages, then the US needs some significant cost reductions...and this is unlikely...

 

https://www.usdebtclock.org/

 

Ironically Trump's proposed spending bill would overall be less. He just wants to cut out the pork and, at the same time, divert more of it to individual people.
What many ordinary people do not realize is that only a small fraction of the spending in this bill would actually go to giving out free money to individuals.

By saying he wants to hike it to $2000, he puts the media in an awkward/cumbersome position if they want to explain why they oppose Trump's proposed version of the bill.
It's just a stunt for good press, showing that Trump's main criticism isn't against the part of the bill that gives people free money, but a lot of the other stuff in it.

 

Unfortunately his entire presidency has been nothing but a media stunt. Its a tragedy.

The media is not opposing the hand-outs, and the far-left actually loves the idea because its what they wanted all along.

His demand puts the Republican party in an awkward/cumbersome position.

 

Um, you do realize the heavily biased media coverage kind of forces him to set policy?
If he says he is against the free money, then the media will use that to make people think he is bad.
Like it or not, politicians are under pressure to increase their popularity. In this case, it's not only voters, it's also stupid politicians who will turn against him.

I think maybe, just maybe, we need to put a little less blame on the politicians, and more on the media and the stupid voters and politicians who let their opinions be swayed by heavily biased coverage.
I mean, it would hardly make sense to blame politicians for something when they will end up being punished because of our collective stupidity if they don't do it.

 

No I do not realize why he would bow down like that. Is he really that weak? Well, good riddance I guess.

 

If a politician doesn't bow down, they may not get reelected. Other politicians may be less likely to cooperate them on legislation, or conspire against them.

Think about it. Not going to waste my time fully explaining how this applies in this specific situation.
With the upcoming election being very close at the time this happened, and now the impeachment, it should be obvious to you. Look at current events.

 

He bowed down AFTER losing the elections. Why? Because he never had a conservative bone in his body. He was always a big government, big spending appeaser.

 

It's the rich who set policy who also set the media's coverage. See how that works?

No, it will only mean that more people realize he IS bad.

I see. That must be why whenever there is a conflict between what is popular and what the rich want, the politicians do what the rich want.

The stupid politicians would be the ones who don't understand the need to provide generous financial support to people deprived of their livelihoods by a national emergency.

We elect politicians in the hope that they will be smarter and better informed than the people who elect them.

It makes a lot of sense: they are supposed to be smarter and more informed than the average person. They are certainly paid like it.

 

Do you have to ask?

 

He had already been defeated.

Trump couldn't care less about legislation.

Looks to me like he was trying to curry favor with people in a desperate and doomed attempt to get more money from his donor base.

 

You ARE NOT going to change the vulnerability and behavior of people! A person cannot believe crap unless they are a willing participant. No one holds a gun to people's heads and demands they watch certain media or believe lies and conspiracies...they are willing participants. Why can't most people rationalize right from wrong, truth from lies, and for those who can rationalize and they make solid choices to believe crap, good luck doing anything about them. On this forum people post lies and conspiracies all the time!...and they can't be debated because facts are meaningless so we see constant shouting matches. This is not a media problem...this is a people problem...