Biden's Stimulus- He's Screwing Us Already

[BFritz21]

It's kind of the typical Democrat way- people think they're entitled to things simply for existing, their politicians promise them free things, and eventually everyone suffers.

Biden's new Covid stimulus that he signed will cause inflation and ultimately damage our economy. You can't just keep giving out money for nothing. That's not the way it works.

I lost 11 grand today from the money that's set to take care of me for the rest of my life.

How much worse will it get?

[Au165]

(02-25-2021, 10:16 PM)BFritz21 Wrote: It's kind of the typical Democrat way- people think they're entitled to things simply for existing, their politicians promise them free things, and eventually everyone suffers.

Biden's new Covid stimulus that he signed will cause inflation and ultimately damage our economy. You can't just keep giving out money for nothing. That's not the way it works.

I lost 11 grand today from the money that's set to take care of me for the rest of my life.

How much worse will it get?

Can’t you just put this in the last thread you made these same claims? The one where I mentioned the market was at an all time high and you never replied?

[KillerGoose]

(02-25-2021, 10:16 PM)BFritz21 Wrote: It's kind of the typical Democrat way- people think they're entitled to things simply for existing, their politicians promise them free things, and eventually everyone suffers.

Biden's new Covid stimulus that he signed will cause inflation and ultimately damage our economy.  You can't just keep giving out money for nothing.  That's not the way it works.

I lost 11 grand today from the money that's set to take care of me for the rest of my life.  

How much worse will it get?

What exactly are you referencing? Biden hasn't passed any stimulus yet. There is a stimulus bill that is in Congress right now, but it hasn't been approved, so nothing has passed. If you are worried about this bill, why does this bill worry you compared to the $4 trillion in COVID stimulus that Trump approved?

[BmorePat87]

I know he's a bit crazy with his show, but Jim Cramer blames the bond market, not Biden. He says the stimulus, and a little inflation, is good right now, but the bond market reacts preemptively because they do not want it, causing buyers to pull back on high growth stocks, which he says they'll be regretting when it bounces back.

https://www.cnbc.com/2021/02/25/as-bond-yields-rise-jim-cramer-dismisses-inflation-fears-roiling-stocks.html

[BFritz21]

(02-25-2021, 10:21 PM)Au165 Wrote: Can’t you just put this in the last thread you made these same claims? The one where I mentioned the market was at an all time high and you never replied?

Market at an all-time high that will be destroyed by this stimulus bill.

(02-25-2021, 10:27 PM)KillerGoose Wrote: What exactly are you referencing? Biden hasn't passed any stimulus yet. There is a stimulus bill that is in Congress right now, but it hasn't been approved, so nothing has passed. If you are worried about this bill, why does this bill worry you compared to the $4 trillion in COVID stimulus that Trump approved?

I'm referring to Biden's stimulus bill that he proposed for Covid relief. 

It hasn't been officially signed yet but it's making its way through House right now and will likely pass, which then Biden will obviously sign it and make it official.

[KillerGoose]

(02-25-2021, 10:59 PM)BFritz21 Wrote: Market at an all-time high that will be destroyed by this stimulus bill.

I'm referring to Biden's stimulus bill that he proposed for Covid relief. 

It hasn't been officially signed yet but it's making its way through House right now and will likely pass, which then Biden will obviously sign it and make it official.

Okay. So, why does this bill worry you in comparison to the $4 trillion that Trump approved? What about this bothers you?

[BFritz21]

(02-25-2021, 11:03 PM)KillerGoose Wrote: Okay. So, why does this bill worry you in comparison to the $4 trillion that Trump approved? What about this bothers you?

Post a link with what both bills include.

[BFritz21]

(02-25-2021, 11:03 PM)KillerGoose Wrote: Okay. So, why does this bill worry you in comparison to the $4 trillion that Trump approved? What about this bothers you?

For starters, it doesn't do enough to help the economy or re-open schools.

[KillerGoose]

(02-25-2021, 11:24 PM)BFritz21 Wrote: For starters, it doesn't do enough to help the economy or re-open schools.

Okay. Currently, the bill is allocating for $130 billion to be distributed to schools and $260 billion for vaccine production and distribution. It also provides the biggest direct payments to taxpayers to date, which has been a popular way to stimulate the economy through the pandemic. Are you advocating for larger individual payouts? 

[BmorePat87]

(02-25-2021, 11:24 PM)BFritz21 Wrote: For starters, it doesn't do enough to help the economy or re-open schools.

wait, it's bad because the amount of spending will cause inflation but it's also bad because it doesn't spend enough?

[BFritz21]

(02-26-2021, 12:28 AM)BmorePat87 Wrote: wait, it's bad because the amount of spending will cause inflation but it's also bad because it doesn't spend enough?

When did I say "it's bad because it doesn't spend enough"?

Helping the economy doesn't mean just giving out money to spend.  That devalues the dollar.  It's why people in places like Venezuela are burning money- because it's useless.

If you continue to give money for nothing, as is the case with everything, it begins to lose its value.

[BmorePat87]

(02-26-2021, 12:35 AM)BFritz21 Wrote: When did I say "it's bad because it doesn't spend enough"?

Helping the economy doesn't mean just giving out money to spend.  That devalues the dollar.  It's why people in places like Venezuela are burning money- because it's useless.

If you continue to give money for nothing, as is the case with everything, it begins to lose its value.

You said that it does not "do enough to help the economy or re-open schools". What changes would then need to occur for it to "do enough" if including more isn't what you had in mind?

[Benton]

(02-25-2021, 11:24 PM)BFritz21 Wrote: For starters, it doesn't do enough to help the economy or re-open schools.

As far as schools, I'm fuzzy on the exact numbers, but the last gop bill was around $75 billion for schools. This bill is around $135 billion for schools.

And for the economy, there's more of it being spent here than the last bill. As far as I know, this white house (unlike the last) hasn't included $25 million for gender studies in pakistan. 

I don't like deficit spending. But if we're going to spend money on gender studies in other countries, then we should be doing that after our economy is back to solid. This bill, as much as I hate the price tag, will help with that.

[BFritz21]

(02-26-2021, 01:05 AM)BmorePat87 Wrote: You said that it does not "do enough to help the economy or re-open schools". What changes would then need to occur for it to "do enough" if including more isn't what you had in mind?

Which I pointed out that just giving out money doesn't help the economy, it just causes inflation, which hurts the economy more.

I'm not sure what could be done to make it enough, but I just know that this isn't it and could have bad consequences.

[BFritz21]

(02-26-2021, 01:05 AM)BmorePat87 Wrote: You said that it does not "do enough to help the economy or re-open schools". What changes would then need to occur for it to "do enough" if including more isn't what you had in mind?

They haven't even gotten all the money out to schools from the last bill, and not to mention that only 5% of the bill is used this year and the rest is spread out in future years.  I thought it was supposed to be for Covid relief?  

[BFritz21]

(02-26-2021, 12:08 AM)KillerGoose Wrote: Okay. Currently, the bill is allocating for $130 billion to be distributed to schools and $260 billion for vaccine production and distribution. It also provides the biggest direct payments to taxpayers to date, which has been a popular way to stimulate the economy through the pandemic. Are you advocating for larger individual payouts? 

They haven't even gotten all the money out to schools from the last bill, and not to mention that only 5% of the bill is used this year and the rest is spread out in future years.  I thought it was supposed to be for Covid relief?  

[BmorePat87]

(02-26-2021, 01:26 AM)BFritz21 Wrote: Which I pointed out that just giving out money doesn't help the economy, it just causes inflation, which hurts the economy more.

I'm not sure what could be done to make it enough, but I just know that this isn't it and could have bad consequences.

So it’s more of a “I don’t think this is the right course” rather than “it doesn’t do enough”? Just curious what your take on action is, not criticizing.

[BmorePat87]

(02-26-2021, 01:58 AM)BFritz21 Wrote: They haven't even gotten all the money out to schools from the last bill, and not to mention that only 5% of the bill is used this year and the rest is spread out in future years.  I thought it was supposed to be for Covid relief?  

Do you have a source for that? I’m curious to dig into that specific claim

[BFritz21]

(02-26-2021, 02:29 AM)BmorePat87 Wrote: Do you have a source for that? I’m curious to dig into that specific claim

In this interview in the first minute, including pointing out that the increased minimum wage will, according to the Congressional Budget Office, cost 1.4 million jobs, like I pointed out in another thread and was laughed at for using common sense.

[NATI BENGALS]

Funny I’ve noticed prices increasing since your boy started trade wars, throwing around tariffs, and bailing out farmers because of the trade wars and tariffs. Then the pandemic and botched response hit and it sure seemed like prices went up even faster.

Let’s blame Biden and a bill that hasn’t passed yet though... seems like the true conservative thing to do.