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In the US we seem to either focus on the medical crisis or the economic crisis. I wish we would focus on both. How I understand it, how to resolve this would r
by jimkleiber 6y ago
In the US we seem to either focus on the medical crisis or the economic crisis. I wish we would focus on both.
How I understand it, how to resolve this would require medical interventions (shutdowns, testing, tracing, therapies, vaccines, etc) and economic interventions (stimulus, deferrals, forgiveness, etc) and yet we seem to mostly be doing the medical ones and getting pushback on it.
I could be wrong on this, but I think one of few institutions in this country that can provide economic interventions is the US Congress. They provided one stimulus bill that helped to provide the economic safety net while we worked on the medical safety net. It shocks and angers me that they haven't provided another one.
I struggle to see why they don't provide more economic stimulus. HN, can you help me understand why Congress isn't providing more financial help to the country?
- randcraw 6y agoMore precisely, the majority of the US Senate (republican) opposes another large COVID bill. In contrast, the majority of the US House (democrat) has proposed new bills at between $2-3 trillion. The GOP is currently under control of the current President. Until he leaves, they will not act independently. After January 20 (and after the Georgia Senator runoffs are over), republicans will fear Trump's wrath less. But will that be enough to shift those politicians' sentiment? Only the impact of enough lives lost to COVID in the next two months will tell.
- jimkleiber 6y agoBut why does the Republican majority oppose another large COVID bill? I guess I just haven't heard or understand their arguments for why they think giving more economic stimulus would be a bad thing. - Is it a moral one? "Giving money makes people lazy, people should work for their money." - Is it a financial one? "If we give more money, this country will go further into debt." - Loyalty/obedience to Trump? - Something else? I'm just so confused...
- disgruntledphd2 6y agoThey say that "it's a bunch of radical left-wing priorities disguised as a pandemic bill". What they mean is that they really don't want to give money to states and local governments, because they believe it will be poorly spent. This is problematic because these governments can't borrow, so will need to cut services in the midst of a pandemic. Additionally, the Republicans are pushing strongly for a liability shield for employers from Covid deaths/cases, which the Democrats don't like. Additionally, a bunch of Republican senators have found debt-reduction Jesus again, in the midst of the pandemic (even the IMF, those bondholder-buring, water-privitising backstards have said that now is not the time to worry about debt).