05-20-2020, 07:54 AM
And McConnell is fiddling while the country burns.
Whether or not you like the content of their bill (I think it's a mixed bag) at least the House is doing something.
Although, maybe someone more knowledgeable than I am can explain this, why haven't the previous moves been enough? US GDP is ~$20.5T. We've passed assistance so far of ~$4T, right? Even if economic activity went to 0 (it hasn't) that would be enough to cover several months. If you figure activity is down in proportion with the layoffs (it's probably less) then we'd be looking at a shortfall of ~$0.8 T or so ($21T/year * 1/6 year elapsed * 1/4 employees laid off). Is it just that the funds are so poorly targeted that they're mostly not going where needed? Is the loss of consumer confidence so large that it offsets that? I feel like I must be missing something here because it's manifestly obvious that what's been done so far is insufficient, but I don't see why when the scale seems approximately correct.
Whether or not you like the content of their bill (I think it's a mixed bag) at least the House is doing something.
Although, maybe someone more knowledgeable than I am can explain this, why haven't the previous moves been enough? US GDP is ~$20.5T. We've passed assistance so far of ~$4T, right? Even if economic activity went to 0 (it hasn't) that would be enough to cover several months. If you figure activity is down in proportion with the layoffs (it's probably less) then we'd be looking at a shortfall of ~$0.8 T or so ($21T/year * 1/6 year elapsed * 1/4 employees laid off). Is it just that the funds are so poorly targeted that they're mostly not going where needed? Is the loss of consumer confidence so large that it offsets that? I feel like I must be missing something here because it's manifestly obvious that what's been done so far is insufficient, but I don't see why when the scale seems approximately correct.