Now that the details are starting to be released (Why is it that we have to pass this thing to know what’s really in it? Sound familiar?), I wanted to give my commentary on a few things I already disagree with. Before you shrug your shoulders and say “it’s just a right wing reaction by a right wing blog” hear me out.
This is a truly unprecedented situation. The leisure, restaurant, casino, and airline industries are on the verge of collapse. The stock market has given up all of the Trump gains since his election. The news media has whipped everyone into frenzy. Schools have closed indefinitely, restaurants have closed all dine-in operations, and movie theatres have closed. While I still feel this is a huge overreaction, as William has told me “once you ring the bell, how do you un-ring it?”
Now on to the Trump plan, it involves two $1,200 checks per person, for 2 months, with an extra $500 for children. The goal is that these checks to be out in a little over 2 weeks. My question is how? The Treasury/IRS has to have files upon files upon files, no chance this gets done in just a few months. (Last time the government did such payments under George W Bush, it took 3 months.) I have a feeling this will be left up to the individual states because at the end of the day, the federal government can’t move fast enough to be effective. (I’m assuming they want to be effective.) Instead, I think you may see the states distributing funds with the Treasury reimbursing. This means the $$$ will be going to non-citizens and likely people making far more than the intended income levels. Sorry folks, but we have voter registration roles that are out of whack, what makes you think they will get this right?
I also question bailing out corporations in return for equity, this I liken to a real life game of Shark Tank. I almost envision the CEO going into the smoke filled room asking for so many million/billion/trillion/gazillion in exchange for so much equity. It would literally be must see TV, almost the Apprentice in disguise! I guess if they like your pitch, equity stake can be negotiated. If they don’t like your pitch, well, you go the way of Lehman Brothers. I do not like this idea one bit, I understand the need for a lifeline, not a bailout. Even an equity stake doesn’t give the government enough downside protection, especially with the political risk of an election year!
In conclusion, the worst part is that I feel the GOP has once again been goaded by the Democrats into thinking this is a good idea. I see this ending horribly in November. All this talk of playing nice, ends with the Dems running TV ad, after TV ad of the party of the rich only gave you folks $1,200 X 2, we want to give you a living wage paid for by Uncle Sam each month! Shades of George W. Bush in 2007ish, it ended badly. They will have us over the barrel.
These guys might all shake hands and bump fists in public, but they all know there is a lot at stake in November. All are trying to insure the re-election of themselves and their “fellow congressmen” while trying to pick off as many of the other side as possible. There is a reason we have 2 parties, I don’t think Pelosi and Schumer will be cutting re-election ads for Trump, and the GOP in November…..Just saying. Remember the last time things were TOO BIG TO FAIL!
Johnnie Does