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Fair. It worth pointing out the 'stimulus' bill included next years government budget as well. So its not as simple as taking 2700 and giving 600 back. Most yea
by dogwhistle111 6y ago
Fair. It worth pointing out the 'stimulus' bill included next years government budget as well. So its not as simple as taking 2700 and giving 600 back. Most years they'd be taking 2100 and give nothing back. This year they decided to take 2100, borrow 600 from the central bank, and giving that 600 back
- Proziam 6y agoI excluded the omnibus spending from that number. Most folks, including myself, are appalled at how irresponsible the spending is. However, it would be intellectually dishonest to combine them to make that argument. The stimulus component was roughly 900B, of which each American (there's roughly 330M of us) will only receive $600. Of course, this is all accomplished by [0]printing obscene amounts of USD and saddling Americans with a debt that will likely never be repayable. [1]At present, the debt to GDP ratio exceeds 130%. [0] https://www.usatoday.com/in-depth/money/2020/05/12/coronavirushow-u-s-printing-dollars-save-economy-during-crisis-fed/3038117001/ https://www.usatoday.com/in-depth/money/2020/05/12/coronavir... [1] https://www.usdebtclock.org/ https://www.usdebtclock.org/