IF something isn't done by Monday Federal workers will be furloughed and a good chunk of the government will come to a screeching halt.
"We have to be out by Christmas Day or they will have the sheriffs in here," she said. "With no money, I have to find a temporary place."
Some go so far as to ask for 10-year bans on taking a consulting or lobbying position after Congress (which is how politicians are often paid back by their donors).@Sandy Shopper wrote:
Which is a great reason for limiting congressional terms to two 4-year or one 6-year term. If Congress was not set up to be a popularity contest but instead, a place where the welfare of our great country is at the front of their concerns, we would have more equitable and sane bills.
It's hard to process that number!@ wrote:
Without federal intervention, they fear, as many as 40 million people could be displaced amid an ongoing and still worsening pandemic.
I think this pandemic shows that's not always the case, maverick1. It's an act of nature.@maverick1 wrote:
Most people who are homeless are homeless by poor decision making.
@Sandy Shopper wrote:
The reasons they became homeless are as varied as they are, and MANY of them are homeless due to circumstances beyond their control.
A lot of them homeless by there own choosing. Several "homeless" people actually have places they can go. But they don't wanna follow the simple rules. They rather get high instead of having a roof over there heads
I don't know anyone who believes being wealthy or successful is mostly just due to luck (on this forum). No one has said that. I'm about as enthusiastic of a free-market capitalist as they come and believe 50% of your life's outcome is in your own hands and 50% is from things you cannot control. But, what that means is that sometimes people fall on hard times not of their own making.@maverick1 wrote:
I knew it. Homelessness is a fiery topic. So let's look at the other end of the spectrum. Millionaires.
Thomas Stanley wrote the book, "The Millionaire Next Door." His survey showed that 80% or so of millionaires basically received no inheritance. They're self-made. They feel that a large part of their success was due to their own hard work. But surveys of the general population show that people, in large part, think success is mostly due to luck (like some people on this forum). That disagreement is perhaps the greatest difference between our two political parties. It's a myth that you are your group. And by that we're referring to where you were born, the color of your skin, your gender, etc.
Thomas Stanley wrote the book, "The Millionaire Next Door."
That's an interesting comparison.@maverick1 wrote:
So maybe homelessness is like COVID? It's among us in society, isn't easily determined how you get it since you can't see it, some people don't believe it exists, some people choose not to protect against it, yet society as a whole ends up paying for it.
I'm not that familiar with low-income housing, but I know even affordable starter homes (for entry level professionals) are in short supply. America has become increasingly a nation of renters.@mystery2me wrote:
The main reason for homelessness is a shortage of homes. It's not profitable to build low-income housing, so it doesn't get built.
A great deal of this had to do with how we handled 2008. We let Main Street fail. Banks given bailout TARP money did not lend it out to revive the economy. Instead, they gave themselves bonuses, bought up smaller banks, and took risk-free profits by stashing the cash at the Federal Reserve for interest. But, a more insidious motive existed too (that I've explained before). Banks and private equity served to gain more by watching everyone else fail. Those same homeowners, who were tricked into signing ARMs they couldn't understand and lost everything and then were tricked a second time into joining the HAMP program (a trial modified mortgage program) and were still foreclosed on (often fraudulently: [www.youtube.com] ...as the program hurt millions more than it helped, according to its top regulator, because it was more profitable for the banks/lenders, given HAMP's guidelines that the trial fees could be kept if the homeowner was foreclosed on for any reason - leading to many fake and made up excuses even after they paid on time, as detailed by Neil Barofsky in that video), were now desperate/financially ruined and given their third whammy and privilege of renting back those same homes they lost.@ wrote:
As of 2018, 62% of renters, or 27.1 million people, earned middle-class incomes of between $30,000 and $75,000, according to the study. At least 10.3 million families with annual income of at least $75,000 are renting the roof over their head, a jump over previous years.
That shift came as the country started to rebound from the 2008 housing bust. Along with straining family budgets across the land, the ensuing recovery drove up home prices. In 2013, for example, households needed to earn at least $53,300 a year to afford buying a home – a number that jumped to $67,300 in 2018, according to National Association of Realtors. Meanwhile, worker wage gains haven't kept pace with home prices.
Roughly speaking, it looks 50% of the first package.@ wrote:
What This Means For You
By Trump signing this stimulus package, this may impact your wallet in several ways, including:
Stimulus Checks: The new stimulus package will provide a one-time stimulus check of $600 for each eligible individual based on the same income limitations for the first stimulus check, which is a 2019 income less than $75,000 for each individual and $150,000 for each married or joint filer. Eligible dependents 16 and younger can qualify for $600 stimulus checks, while married and joint filers can get $1,200. Trump advocated for $2,000 stimulus checks, and has previously said he wanted large stimulus checks for the American people. Previously, Secretary of the Treasury Steven Mnuchin said that stimulus checks could be sent within days, although it’s unclear if that schedule still holds and if payments would be delayed until early next year.
Unemployment Insurance: The new stimulus package includes $300 a week for enhanced unemployment insurance.
Rental Assistance: The stimulus package includes $25 billion of rental assistance to protect vulnerable Americans who are at risk of losing their home. There is also a one-month extension of the federal eviction moratorium. (This is different than a congressional proposal to cancel rent and mortgages).
Additional Benefits: The stimulus package also includes funding for the Paycheck Protection Program ($284 billion), education ($82 billion), child care ($10 billion), clean energy and fossil fuels, and vaccine distribution, among other benefits.
What’s Missing: Student loan relief was dropped from the stimulus package. This include any proposals to cancel student loans. Trump postponed federal student loan payments through January 31, 2021, but that student loan relief will expire then, unless Congress extends through legislation or the president extends through executive action. There is also no Covid-19 liability protection for businesses or any state or local aid, which were favored by Republicans and Democrats, respectively.
This shall be the next fight: state/local aid@1forum1 wrote:
I think Mitch is ready and willing to bail out individual Americans with stimulus money, but the House stimulus that also includes bail-outs to certain states is not going to fly. .
There is no such thing as "bail-outs to certain states" in any stimulus. That verbage is used by the Unindicted Co-conspirtator Individual -1 and Mitch to distort. Every state in the union has taken a financial hit. Revenue subsided. States and cities have operating cost which includes a plethora of basic infrastructure maintenance. Additionally, the expenditures include the resources for schools, police, corrections, highways and roads, hospitals, and other public health including medicaid.
The Huff Post article has good examples of how state/local cuts affect communities. Good read.@ wrote:
It’s one of countless examples of how austerity can make it even more difficult for ordinary people to get federally funded benefits, like food stamps, that are distributed by the states.
When COVID-19 hit, most states saw a huge surge in food stamp applications but didn’t have enough staff to keep up. In Virginia, where the food stamp caseload has grown by more than 30,000 since March, a government hiring freeze has caused intractable delays for new applicants.
“It’s a crisis. Every day you’re not able to process their application is a day that that family goes hungry,” said Duke Storen, commissioner of Virginia’s Department of Social Services. Other states are going further and cutting the staff that oversee food stamp distribution outright, Storen said. “In the new year, I think it’s only going to get worse.”
a.) To be clear, I stated that Trump ran the largest fiscal deficit, pre-COVID, outside of war times and recessionary times (WW2 era spending trumped Trump - pun intended). Obama inherited the 2008-9 global financial crisis his first term in office. It's normal (under Keynesian counter-cyclical economics) to spend during those times.@maverick1 wrote:
Oh, puulease. To date, President Donald Trump and his two immediate predecessors are the three presidents who have run the largest budget deficits in U.S. history. But almost every president in the past half-century has run a record budget deficit at least for a time. Why are the last three presidents noted as having the largest deficits? Inflation. When you quote fiscal data, you need to account for inflation.
Yes, lots of states are bankrupt. I agree.@maverick1 wrote:
Now, do you want to see fiscal defect spending in a more local venue? Take a look at most all American cities. They virtually all run fiscal deficits and have begged for more Federal support during this pandemic, but it's not directly used for pandemic needs. Nope. It's to plug holes in the fiscal deficits of the poorly run DEMOCRAT cities from years prior. (Go ahead, fact check this.)
You're probably referring to TARP's ($700 billion) bailout and not the Fed's $16 trillion in corporate and financial institution loans and ~$4.5 trillion in QE from the 2008 crisis. It's a little tricky.@msimon-2000 wrote:
I thought I read that the US Treasury recovered the funds spent to prop up the financial system in 2008-09 and even made a profit from the distressed assets and derivatives...
Speaking of horse trading, buried in the 5,000+ page (who the heck reads that!!!????) new stimulus bill is a tax cut for the rich that amounts to about $200 billion. Wouldn't ya know it. That is roughly equal to the sum total of the $600 stimulus checks that will be sent out.@shoptastic wrote:
. . .Although (again, pure politics aside), there might be a chance we do get a big stimulus bill (I doubt it) if there is some horse trading going on that enriches the elite/wealthy in return. Maybe we lower the tax rates further for the super rich or something and in return we get a bigger stimulus. After all, under Obama/Biden, we unexpectedly saw them make permanent the Bush tax cuts for the rich. So, there could be "compromise" scenario like that for a bigger stimulus for everyday folk. Still, my base case going forward is that a big bill is off the table.