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Opinion It's not a stimulus package. It's a lifeline

19:05  25 march  2020
19:05  25 march  2020 Source:   washingtonexaminer.com

Mnuchin seeks 'big number' for additional coronavirus U.S. stimulus package

  Mnuchin seeks 'big number' for additional coronavirus U.S. stimulus package Mnuchin seeks 'big number' for additional coronavirus U.S. stimulus packageOne Senate Republican, Marco Rubio, told reporters that Mnuchin had asked Republicans to move on an additional measure targeting airlines and small businesses this week.

It is more than double the size of the roughly 0 billion stimulus package that Congress passed in 2009 to ease the Great Recession. That’ s not a good idea. Even if you’re retired, having a balanced portfolio of stocks and bonds so that your money keeps up with inflation, or even grows, makes sense.

It ' s day eight of the White House's 15-day guidelines to slow the spread. Lawmakers and Trump administration officials were unable to come to an agreement Sunday night on the nearly trillion stimulus package meant to serve as a lifeline for Americans and businesses as the coronavirus

Editor’s note: The opinions in this article are the author’s, as published by our content partner, and do not necessarily represent the views of MSN or Microsoft.

Donald Trump wearing a suit and tie © Provided by Washington Examiner

As the nation's businesses shutter and quarantining leaves millions without income, Congress has continued to kick the can down the road, with the House punting the $2 trillion coronavirus response bill agreed upon by the Senate and the White House for yet another day.

Despite everyone from the New York Times to sitting U.S. congressmen referring to the bill as "stimulus," this is not what the bill is. Its effects on consumer and corporate demand are secondary. It is, most importantly, a lifeline to employers and employees — direct cash relief to make sure that individuals have homes and sustenance in the short-run and jobs to return to when the worst of this pandemic passes.

See who's eligible for coronavirus checks under Senate GOP plan

  See who's eligible for coronavirus checks under Senate GOP plan The direct payments to many Americans will be means tested based on their income.Under the plan, the details of which were revealed on the Senate floor by Majority Leader Mitch McConnell, R-Ky., individuals making up to $75,000 annually would be eligible for a $1,200 check from the federal government.

And It ’ s Mitch McConnell’s Fault. Instead, senators must emulate the Fed’s urgency and authorize a set of supersize economic Republicans want a lifeline ; Democrats want to remake the country. Last Thursday, after the Trump administration announced that it supports a stimulus package to help

The Coronavirus Bailout Stalled. And It ’ s Mitch McConnell’s Fault. Congress is about to embark on a huge spending spree. Last Thursday, after the Trump administration announced that it supports a stimulus package to help

Unlike the 2008 financial crisis or any other recent bubble burst, the cause of our immediate economic crisis isn't the result of an underlying demand problem. Before the pandemic, our unemployment rate was consistently hovering around a half-century low, pulling people out of the workforce back to business and leading to the first real wage growth, disproportionately benefiting low-earners, in a decade. As recently as January, Gallup found that U.S. residents had never been more optimistic about their personal financial prospects or their personal lives. Although the student loan and corporate debt bubbles still loomed large, the underlying realities of the economy were strong.

Now we are manufacturing an economic crisis — albeit for a good cause. To save millions of lives, the government has demanded that booming businesses shut down and send home their employees for a time. Customers are being turned away and told to stay home. The trade-off is worthwhile, certainly, but the slowdown is a conscious choice. The economy doesn't need a stimulus right now. But people forced to stay home need tiding over. They need relief.

Senate's coronavirus package would be worth more than $2 trillion - White House adviser

  Senate's coronavirus package would be worth more than $2 trillion - White House adviser The coronavirus stimulus package being negotiated by the U.S. Senate would be worth more than $2 trillion, White House economic adviser Larry Kudlow.

The Coronavirus Bailout Stalled. And It ’ s Mitch McConnell’s Fault. Republicans want a lifeline ; Democrats want to remake the country. US airlines are still waiting for a crucial coronavirus stimulus package that will give them a $US58 billion shot in the arm.

And It ’ s Mitch McConnell’s Fault. Instead, senators must emulate the Fed’s urgency and authorize a set of supersize economic Republicans want a lifeline ; Democrats want to remake the country. Last Thursday, after the Trump administration announced that it supports a stimulus package to help

Direct cash payments to consumers might increase demand somewhat, allowing more people to continue buying takeout and gift cards and to keep small businesses operational. But far more important is sustaining individuals as well as the jobs that they hope to return to until things get back to somewhat normal.

Calling such a bill "stimulus" is like calling hurricane relief aid "stimulus." It's a misnomer, and at most, a possible side effect of the bill's primary function.

Call it a lifeline, relief, or even a crisis bill. But it isn't a stimulus — it is a last resort to save individuals from starvation and small businesses from extinction, not to provide a profit boost to the powerful.

Scam Alert: Calls, Emails, or Texts About Government Stimulus Checks Are Bogus .
Government stimulus checks are on the way, but the IRS and Treasury Department won't be texting or calling you about them. Only scammers will.Naturally, it’s a scam. According to Business Insider, the Treasury Department is cautioning taxpayers that any entity purporting to be affiliated with the government and asking for their personal data for the purposes of issuing the stimulus check is fraudulent.

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