Everyone should not get a stimulus payment

Congress is arguing about round two of stimulus payments. The payments will be funded from future debt. True that there was a cutoff at an earning level last time and that is good. Yet there are people like me who are retired and live off investments, pensions, military and civilian in my case plus. I am not rich . I did not lose income due to shutdowns because none of my income was from active employment. So why should I get a stimulus payment! The government can figure out from tax filings who was working.

The most agregious thing is my grandkids will be paying for my stimulus payment that I do not need. How stupid and wrong is that!!

Does anyone else agree that only those who were actually employed and therefore likely suffered a loss of income should get a stimulus payment. Anyone else out there feel pissed off that our grandkids will pay for the stimulus?

 

I agree with you on this. Like you, my pension, hubby’s SS and our investments are enough. We each received a stimulus check and donated it to our local Kids Campaign.

 

You might not know it...but that "my kids will have to pay for this debt" thing is actually not a "thing"

We never pay off the debt

Inflation renders it unimportant.

So tell us...what is the long term effect of high debt? Does anyone know? At what point do we lose our position as the nation with the currency that is most often used for trade?

I have read it is WAYYYYY down the road

 

The OP shows that when you give people something all you do is stir up a hornet's nest. Some will be pleased and some will be displeased. When that happens you need to go backward to the original problem and look at the actions taken. I'll ask this question -- would it have been better to just put out the information about the virus and let each individual take the action of their choice and be responsible for those actions? Life is unfair. Adjust. It does seem the more places we shut down and the more people wearing a face mask is not driving the coronavirus cases down, in fact the numbers are increasing daily.

 

Everyone should not get a stimulus payment

I agree. The government has no business paying people that don't work for the government.

 

“Everyone” should not get a stimulus check. I agree with this basic notion but believe we’re missing the forest for the trees.

Debt is not an issue. We have the ability to write the checks, write them. It’s more about our productive capacity and ability to manage inflation long term but that’s devolving into subject matter that misses the point.

The issue is the pandemic and subsequently the challenges it presents to our consumer economy.

Tackle the pandemic utilizing the full force of the Federal government and that includes the logistic expertise of our military. I don’t agree with our top down stimulus approach but we are where we are.

Our focus should be on protecting the vulnerable, containmentIng the virus, and keeping us afloat through the crisis. To me, everything else is nonsense.

 

Practically we just pay the interest on the debt but the higher the debt load the stronger the push is on to increase interest rates. We are loading up the interest rate repayment. Inflation does cheapen the payback but inflation raises interest rates and that increases the cost of borrowing. So yes our grandkids will be paying this debt.

There ain't no free lunch.

 

Actually the rates are increasing in places where medical people and logic tells were opened too soon. Also where the younger crowd collected. California which was in good shape until the bars and beaches reopened without distancing.

 

So wisely invest the stimulus money you got, grow it, and then give it to your grandkids when you die. Then they can use that money to break even when they have to pay for the original stimulus.

 

Why not OUR COUNTRY is now operated as a tool to fuel our STOCK MARKET, with next to nothing bond and bank interest rates trying to force investment into stocks as the only place with any kind of return on investment. The wealthy investors are making money hand over fist while the majority of Americans are getting no return on their bank account. None of the listed companies are worth their current overinflated by our government policies stock prices. An outstanding example would be TESLA, now the worlds highest value auto company, despite it just recently having sold its FIRST ONE MILLION VEHICLES, while Toyota has been selling 9.5 to 11 MILLION vehicles per year for several years.

 

Servicing the debt will eventually be a fatal issue. We cannot borrow our way out of economic ruin.

The banding of this pandemic was fatally Fornicated up by this current administration. Yes I agree that the full force of the government should have been employed. Yes the logigistic expertise, the command and control of the military should have been employed nation wide. As we see that eventually this virus will get all types of states- Blue, Red, Purple, and Pink. The miricle never never came that was the hoax, the April Fools joke perpetuated upon the entire nation.

 

I am not going to dilulge my finances or investment but to say that we did not go out and buy Chinese junk that would only stimulate China's economy. We bought nothing in terms of products with it, that is all I can say.

 

So give your stimulus money to your grand kids and they will be even.

 

Good deal, I didn't buy junk with it either - went straight into investments. And I certainly wasn't expecting you to divulge or to dilulge your financial situation.

 

The dollar is the world's reserve currency. That keeps its value high, meaning we can buy foreign made stuff cheap. If we had the manufacturing base we used to have, if the dollar ceased being the reserve currency, we would have to become self-sufficient. Not a bad thing on its face. Problem is that we started outsourcing our manufacturing to China starting in 2000 and the job is almost complete. Trump is the first President to see this as the national security issue it is. That and the Hong Kong uprising are likely why China unleashed the Wuhan Virus on us and trying to hide it by infecting the rest of the world so it would appear to have come from Europe.

Now, look at the greatest generation who built our economy from scratch after the Great Depression and look at the snow flakes who will have to rebuild our manufacturing base if the dollar is devalued to 3rd world level.

Be scared. Be very scared for our grandchildren.

BTW. We owe the stature of the US$ in part to the petrodollar --- care of the Saudis. Keep that in mind the next time lefties want to part ways with the Saudis.

 

Are you single-handedly trying to bring back mercantilism?

 

This is drivel. An exchange rate correction does not lead to autarky. Trade continues. Ultimately its only a concern for one reason: it can be destabilising.

Of course you can avoid it by simply saving more

Right wingers have pushed capital mobility. Indeed, its a crucial part in restricting labour power. And then you crow at Trump as somehow a saviour? Ha! That'll work.

Straight into conspiracy theory? Crikey, post-truth society has really been unleashed by the orange fellow.

You needed a World War to escape depression. Please don't give the orange fellow ideas!

Particularly given the climate emergency (which will make COVID-19 look like skipping through the meadow with flowers in you hair).

This at least made me laugh. In the good ole days Americans pretended greatness through their enterpreneurial spirit. Now right wingers see it as arming the Saudis to bomb Yemeni kids...

 

In with the climate emergency. A few months ago you geniuses were cheering the global lock down as the savior of the planet from climate change. How's that worked out so far?

 

Look at you hiding from what I said (which destroyed your post as twaddle)!

We know that COVID-19 has caused a lot of problems. We won't know the full extent until the morbidity problems are fully understood. However, we also know that the climate emergency will lead to irreversible strife. But what are you doing? Referring to either? Nope! Just trying to justify the US's part in bombing Yemeni kids!

 

Why don't I feel I was destroyed by your tripe? I don't recall mentioning your Houthi terrorists or their funding by Iran or their attacks on Yemen or their attacks on Saudi Arabia or Iran's attack on Benghazi or any of that. Changing the subject doesn't translate into destruction.

You didn't address how shutting down the global economy defied left wing drivel by increasing cyclone activity and warming the planet. It was supposed to be the solution.

 

Because, as shown by your post, you don't understand economics. Instead, you blindly believe the tripe fed to you. This was neatly advertised by your conspiracy theory effort.

Why don't you attack your government's role in enabling bombing of civilians? The Saudis too important to you, or is life so meaningless?

It was never going to be a solution; you're making guff up as part of a dodge routine. It merely provided prod towards the notion of sustainability. Is economic sustainability a problem for you?

 

Jeff Bezos made another $17 billion in one day last week. Shameful. No one can live on that. He needs a stimulus check. Badly.

 

Eventually they will get what is left of our estate. One of them who used to take her older siblings items and hold them until she got " payment" for their care and storage while they were held hostage will be the investor or maybe a Mafia operator.

 

Do you really think that debt matters? It's money we owe ourselves. But seriously, we need to give a stimulus check to the people that will spend it. It isn't about individuals it is about the economy.

 

Just joking. Just about all of my former 401k money is in Fortune 500 mutual no load fund, some tab sheltered munis and a very little in a speculative emerging markets funds. Until the market settles down I will keep a safe base in money markets. Not that I have all that much...