Stimulus or No?

An economic stimulus package is needed in America right now. We won’t get it, however, because the republicans think that would give democrats a victory. An agreement by democrats of the current republican offer is a non-starter. Here’s why:

·        State and local governments, including counties, are nearing empty cash drawers. They have lost trillions of tax revenues during COVID shutdowns, and spent many billions or more to provide emergency relief to tens of millions of people living within their jurisdictions. An enormous unemployment surge is hanging by a thread as local governments look to slash expenses. The Feds need to bail these governments out. They are the ‘feet on the ground’ during COVID. The feds pay for things, but don’t do much work. They rely on states and communities to do that.

·        Unemployed citizens need a boost in their unemployment benefits. Being stingy these last two months has caused untold heartache and bankruptcy pressure on the middle class and low income people. Emergency aid to them right now is needed. The amount remains a sticking point between the two parties. The president wants to help because this would look like a victory for him and gain votes by November 3^rd. Senate republicans are fighting a different game, still one of power over democrats.

·        The healthcare industry needs more money to cover expenses and disruptions from COVID. Just keep the money coming, folks. Every penny is justified.

·        Small businesses need more funds to maintain existence. Many have already disappeared into bankruptcy and a financial swamp. Those still operating are doing so on a shoe string. Provide more PPP funds for them, please. $500 billion would work well, and funds should be kept from larger firms. They have other resources to keep them in business for a while.

·        Bank holiday for mortgages and rent seems to be something we should be examining. A time-out so people maintain their housing while long term solutions can be engineered to save property owners and renters alike.

The need is real. Congress needs to act. Now!

October 17, 2020