Stimulus & Bailout Watch Thread

[ADevilYouKhow]

Weekly mortgage applications point to a remarkable recovery in homebuying

 

[Pressure]

Weekly mortgage applications point to a remarkable recovery in homebuying

How many are approved and how many go on to buy homes.

I can see a scenario where people who were renting used their stimulus checks to help pay down debt or go towards a mortgage

 

[ADevilYouKhow]

Love isolation? NASA wants you to spend 8 months locked in a Russian lab | Space

 

[ADevilYouKhow]

How many are approved and how many go on to buy homes.

I can see a scenario where people who were renting used their stimulus checks to help pay down debt or go towards a mortgage

Idk lending in super strict and it just got more so...

Also you have to have a job and be able to substantiate your income to get a mortgage

good time to re-fi though if you can swing it

 

[ADevilYouKhow]

Great, just in time for Republicans to care about deficits again when Biden gets elected and they'll want to slash every safety net in existence. Think they'll roll back their tax cuts to pay for everything?

I don’t think they would that’s why we need to secure the White House and the senate. There’s too much at stake. Austerity doesn’t work.

 

[ADevilYouKhow]

The government is bringing back a bond from the 1980s to help pay off a record deficit

 

[the cac mamba]

Great, just in time for Republicans to care about deficits again when Biden gets elected and they'll want to slash every safety net in existence. Think they'll roll back their tax cuts to pay for everything?

they might not have a choice. i was reading an article with all these billionaire wall street dikkheads saying "yeah, our taxes are going up. its inevitable".

and democrats should be able to run on raising taxes on the 1 percent. their messaging has always sucked, but literally call it the "tax billionaires" act or something

 

[voltronblack]

Senate Majority Leader Mitch McConnell (R-Ky.) said Wednesday that expanded unemployment benefits passed as part of March's $2.2 trillion coronavirus relief bill will not be included in the next package passed by Congress.

McConnell, during a call with House Republicans, stood by the GOP's decision to "pause" before passing a "phase four" bill, and indicated that the holding pattern would continue for the immediate future as they assess the impact of previous coronavirus bills.

However, McConnell told House GOPers that if Congress passed another bill, technically the fifth piece of coronavirus legislation, Republicans would "clean up the Democrats’ crazy policy that is paying people more to remain unemployed than they would earn if they went back to work."

"This will not be in the next bill," McConnell said, according to a source briefed on the call.

As part of March's coronavirus relief bill, Congress beefed up unemployment benefits to provide an additional $600 a week in unemployment compensation for roughly four months.

The provision sparked fierce backlash from Senate Republicans over concerns that it would result in some individuals making more on unemployment than they did at their previous job.

But the Senate rejected an attempt by four GOP senators to change the bill at the time to cap unemployment benefits at 100 percent of an individual's salary before they were laid off. Every present GOP senator besides Sens. Susan Collins (Maine) and Cory Gardner (Colo.) voted for the amendment, but it fell short of the 60 votes needed.

Sen. Lindsey Graham (R-S.C.), one of the sponsors of the amendment, asked President Trump during a closed-door caucus lunch on Tuesday to agree not to extend the beefed up unemployment benefits.

"I asked him not to agree to that. That we can't. You can extend some assistance, but you don't want to pay people more unemployed than they made working," Graham said.

Graham specified that Trump did not explicitly say that he would not support extending the benefits, but that president "agrees that that is hurting the economic recovery."

"He didn't say he wasn’t going to sign a bill with it in, but he agreed that that was a problem we need to look at," Graham added.

Sen. Mitt Romney (R-Utah) added that he would like to "fix" the unemployment provision "because we're now paying people - in some cases - more money to stay home."

The pushback to extending the unemployment benefits in Congress's fifth piece of coronavirus-related legislation comes after a nearly $3 trillion bill passed by House Democrats last week would extend the extra $600 per week through Jan. 31, 2021.


Rep. Don Beyer (D-Va.) fired back at McConnell on Wednesday, warning that scaling back unemployment assistance could result in a "full-blown human catastrophe."

“There is broad agreement among economists that Congress needs to pass much more stimulus to help the economy recover," he said. "Cutting back federal assistance at the height of the crisis would mean self-inflicted disaster, devastation, and additional deaths. That must not happen.

Republicans have panned the House-passed bill, declaring it "dead on arrival" in the GOP-controlled Senate.

McConnell, during the Wednesday call with his House counterparts, said that Congress could need to pass additional legislation, but that it would not be like the House bill.

"If we do another bill it won’t look anything like the House Democrats’ bill," he said.

 

[Pressure]

Republicans want to keep you as poor as possible

 

[Ethnic Vagina Finder]

Republicans want to keep you as poor as possible

if everybody had more money, more people would spend. More people spending means a healthier economy.

 

[Pressure]

if everybody had more money, more people would spend. More people spending means a healthier economy.

That's not what they mean when they say they want a healthier economy.

Any egalitarian measures that threaten to offset the current stratification will be rejected. ​

 

[Bboystyle]

If any breh in here is Republican, kindly go fukk yourself

 

[BK The Great]

If any breh in here is Republican, kindly go fukk yourself

Facts, these Republican devils need to disappear from thin air already. Sick of seeing these politicians play with people's lives.

 

[ADevilYouKhow]

2.4 million Americans filed jobless claims last week, bringing nine-week total to 38.6 million — The Washington Post

 

[voltronblack]

Mnuchin sees 'strong likelihood' of needing another COVID-19 relief bill
Mnuchin sees 'strong likelihood' of needing another COVID-19 relief bill

Treasury Secretary Steven Mnuchin on Thursday said there is a "strong likelihood" that another coronavirus relief bill will be needed, as more states start to reopen and the economy struggles to stabilize.

"We're going to step back for a few weeks and think very clearly how we need to spend more money and if we need to do that," Mnuchin said during a virtual event hosted by The Hill and sponsored by Wells Fargo and Siemens.

His comments follow those of White House economic adviser Kevin Hassett, who said earlier this week that he thinks another coronavirus bill might not be necessary.

On Capitol Hill, Republicans and Democrats are divided over how to tackle additional legislation.

House Democrats last week passed a $3 trillion relief package, but Senate Republicans have said that bill is dead on arrival in their chamber. Some GOP senators have indicated they want to move quickly on another measure, but Senate Majority Leader Mitch McConnell (R-Ky.) has signaled a desire to move more slowly in order to first evaluate what is and isn't working from previous relief bills that were signed into law.



.@USTreasury Sec. @stevenmnuchin1: "I woudl hope that the next bill that we do has overwhelming bipartisan support. The Speaker's bill is a partisan bill." #TheHillVirtuallyLive pic.twitter.com/Aha9jU769q

— The Hill Events (@TheHillEvents) May 21, 2020


One point of division that has emerged is unemployment insurance.

McConnell told House Republicans on Wednesday that the $600 per week boost to unemployment insurance that was part of legislation passed in March would not be included in the next bill. Republicans have criticized the boost, arguing that it is a disincentive for people to return to working.

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Mnuchin said Thursday that “we do need to fix the quirk” with the unemployment expansion that results in some people receiving more in unemployment benefits than they did in wages when they were working.

Mnuchin said he last spoke with Speaker Nancy Pelosi (D-Calif.) last week, but that conversation was focused on the execution of the $2.2. trillion law Trump signed on March 27, not subsequent legislation.

He said the package passed by House Democrats last week was a "partisan bill" that the White House is not focusing on at the moment. He noted that the previous relief packages had overwhelming bipartisan support, and that he would hope that's the case with the next one as well.