Paycheck Protection Program

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Icarus
First Presidency
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Re: Paycheck Protection Program

Post by Icarus »

Oh I know, but I heard she's in the running. She'd definitely solidify the black vote.

EAllusion
God
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Joined: Tue Dec 04, 2007 6:39 am

Re: Paycheck Protection Program

Post by EAllusion »

The Whitehouse has made it clear there will be no phase 4 bill this month, or perhaps any other, right as Democrats indicate they might actually try to bargain for meaningful concessions this time. Who could've guessed that they'd do this after Democrats gave up nearly 3 trillion dollars of leverage? Who?

Can't wait for Democrats to say they're helpless and the only solution is to vote for them some more. Difficulty of voting may vary depending on where you live or who you are likely to vote for. Void where prohibited.

EAllusion
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Joined: Tue Dec 04, 2007 6:39 am

Re: Paycheck Protection Program

Post by EAllusion »

House Democrats are attempting to pass a bill to set a negotiating start point with Senate Republicans for further COVID relief. They're doing so after having given away a substantial amount of their leverage, and are already pre-compromising their own bill that is a mixture of local government relief and a goody-bag to various interests of the Democratic coalition.

One of the key things Democrats need to pass if they want to avoid Joe Biden becoming Herbert Hoover 2.0 if he wins and Democrats do not take the Senate is a trigger to keep stimulus relief automatic as long as dire economic conditions exist, because Republicans will kill anything once a Republican President is out of office.

The Democratic caucus broadly supports this, activists seem desperate for it, and there seems to be strong consensus among economists that it is a good idea.

Pelosi killed it. That was reported recently, but today there's her specific reasoning in her own words is available:

https://twitter.com/zachdcarter/status/ ... 8914111501

She is worried that due to CBO accounting, which she says she disagrees with, the bill will be scored as more expensive and therefore become unpalatable. I'm not sure that idea even makes sense as I'm not sure voters can even conceptualize the difference between 3 and 4 trillion dollars (for example), nor is there any thirst in the body politic right now for deficit hawking. But even if you take that on its own merits, she's the political calculation is astoundingly shortsighted. How does she think Democrats are going to do when Joe Biden is President and is effectively a do-nothing lame duck while a Great Depression is on?

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