Why cut back on the central bank’s ability to deal with financial crises that Congress or trump cause? What is the advantage?
6 Likes
Dems didn’t want the govt to shut down and they desperately wanted money out there to help millions in need. The Rethugs, all they wanted was to get out of DC and see what Santa was going to bring them (apologies to Rethugs that aren’t Santa believers).
17 Likes
I’m going to take an optimistic view on this. The reporting I have read indicates that the Fed can’t do the same exact thing they did in the original COVID bill. Both the Fed and Dems are smart enough to know that that kind of language allows several large trucks to drive through. The Fed is innovative so, should they want to and see the need, they will be able to support local and state governments with low interest loans. Perfect? Hell, no! But it is the sausage making of a democracy; even if it is to avoid stupid lickspittle Republicans attempting to sabotage Biden.
18 Likes
The excuse to say, “Thanks, Joe!”
4 Likes
Hate to be monotonous, but we have it within our power to eliminate this type of statement:
"McConnell and the GOP Senate will sabotage President Biden"
And despair in this effort will not serve us. To use a sports metaphor, we need to leave it all on the field with the GA Senate runoffs.
28 Likes
F***ers!
6 Likes
Toomey disputed that, saying his proposal “is emphatically not a broad overhaul of the Federal Reserve’s emergency lending authority.” His office issued a statement early Sunday calling the compromise with Schumer “an unqualified victory for taxpayers” that met Toomey’s aim of shutting down the emergency facility.
Because state and local governments across this country clearly are not in any emergency situation in terms of their local revenues. Tax payers can’t pay taxes when they don’t have jobs to begin with. So what if public employees get laid off. Geesh! Like this nation’s unemployed can’t just go work for Amazon or Walmart.
10 Likes
Hopefully we can do a workaround. The Fed is in favor of keeping its powers and understands that this is an emergency. Also, Janet Yellen, the former Fed Chair, is the nominee for Treasury, and she is very savvy.
22 Likes
“F***ers”
“I can’t say they’re not”.
10 Likes
A country with so much, gives so little back to its citizens. Frankly, it’s a disgrace. Your wealthy are wealthier since the pandemic but everyone else is treated like shit. It’s time for people to remind politicians who is the boss. Who works for who?
I’m sorry, not good enough.
27 Likes
That’s half what I got per week during the first lockdown in Canada. It’s a disgrace.
5 Likes
Trying to figure that one out myself.
Unfortunately, there are 71 million people who prefer it like that. And sadly, among the 80+ million that voted for Biden are those who merely split the ticket to keep GOPers in power that allows them to continue operating in this manner.
12 Likes
Andres is McConnell’s press secretary.
6 Likes
mnuchen would tell you that you should be able to live on that for 3 months!
2 Likes
Rupert Murdoch has poisoned two generations of people. Last night I started to make a list of
(1) Politicians from Southern states
(2) Politicians from Plains and Midwestern states
(3) Politicians from Mountain states
(4) Politicians from PA, WI, MI
All of whom were not fucking crazy RWNJ’s
But all of these aforementioned politicians (Dems and GOP) were in the House and Senate before Murdoch and Gingrich.
Just one example: The Clinton/Gore Ticket (AR/TN)…and we have gone from Clinton and Gore to Cotton and Blackburn
10 Likes
The wealthy own the politicians, bought and paid for.
8 Likes
The bracketed portion of this post was from a previous post of mine. My critique of what we have failed to do is below in bold type
[Someone is going to HAVE to start getting information out dealing with the Following:
(1) The numerical separation between the numbers of people voting for Trump and the numbers of people who are causing unrest in the U.S.
(2) The increase in the numbers of people who believe that Biden is President elect.
(3) The increase in the numbers of public figures who believe that Biden is President elect
(4) Progress with Team Biden resulting from access that we were all fretting about
This related to the thingy that most governments in wartime take pains to keep up with improvements in territory gained.
The lack of (1) through (4) above is just as stupid as British Newspapers portraying the B.E.F as destroyed in Fall 1940.
The lack of (1) through (4) above makes the Orange Bullshit Artist and his lies better to sell to his marks.]
That’s malpractice on our part. We should have been doing (1) thru (4) On minute ONE when Joe was pronounced President Elect on 7 November 2020 And I have to believe that had Howard Dean been leading the Democrats, these things and more would have been part of our communication tool kit. Dean was not a handwringer.
11 Likes
Can say a few things.
First is that the deal so far is a deal “in principle” only. Details and language are being hashed out as we speak. I expect there will be something by day’s end, but there’s no telling what Trump will do with it.
Second is that a lot of reporting has been unclear. What the Republicans are trying to kill (for no good reason) is an emergency lending program that was created in March under the so-called “CARES Act.” That law says the emergency program can, indeed, be terminated, and now it likely will be, even though there is about half a trillion dollars already allocated that could still be used for relief.
What the Republicans also wanted was a statement in the new law that would have prevented the Fed from creating a similar program in the future (as if the need isn’t obvious right now). They are likely not going to get that provision into the new law, but they are obviously making it harder to govern sensibly, because they … are Republicans.
16 Likes