Georgia Packing banner

1 - 20 of 29 Posts

·
Moderator
Joined
·
68,159 Posts
Discussion Starter #1
Congress is expected to plop this bloated monster on Trump's desk today. He already said he will sign it (I wouldn't, VETO! Yeah, baby!)

At 5,593 pages, it is the longest bill ever?

Members of congress were given 2 hours to read it.

It makes illegal streaming a federal felony?

Looks like 600 bucks per adult and child for households under $150k

Unemployment extension at a lower $ amount.

It is almost a trillion (with a T) dollars in spending of borrowed funds. This is on top of the 2.2 trillion spent previously. Our entire budget for the year is normally only 4.5 trillion, and they have to borrow a big chunk of money in a futile attempt to keep up with increases in social security and Medicare spending. They collected only 3.5 trillion in revenue in 2019. You do the math. The deficit was almost a trillion last year, and that was bigger than the year before. It looks like for 2020 the deficit alone is going to be as much as or more than a normal budget. The debt was already $21 trillion (public debt, $27 trillion including intergovernmental debt) before this bill.
https://www.treasurydirect.gov/govt/reports/pd/pd_debttothepenny.htm

What if your household made $350,000 a year, and you normally borrowed, say, last year, an additional $100,000 a year to keep up with your spending? What if this year you borrowed an additional $450,000, bringing your total debt up to $3,000,000? How long could you keep up without massive household budget spending cuts?

Notice the number ratios are about the same.

$350,000 is plenty of income to pay off 3 million in debt, but a household facing that task would need to cut household spending down to $100k or less and focus the funds on debt repayment. Do you think the government is going to cut its normal 4.5 trillion budget down to 1 trillion so it can allocate 2.5 trillion to debt repayment? LOL! SOCIAL SECURITY SPENDING all by itself was a trillion last year! And growing! Medicare all by itself was 7/10 of a trillion, and combined with all the other "health care" related federal spending was another 1.1 trillion.

"Oh, but the government can do tax increases," you say. Really? How much? Not even possible to raise taxes enough to balance the budget at current spending. IT IS NOT POSSIBLE.

Enjoy your $600 per person check.
 

·
Moderator
Joined
·
68,159 Posts
Discussion Starter #2
UPDATE: Apparently both chambers already passed it.

  • The six Republican senators who voted against the bill: Sens. Marsha Blackburn of Tennessee, Rand Paul of Kentucky, Rick Scott of Florida, Ron Johnson of Wisconsin, Mike Lee of Utah, and Ted Cruz of Texas.
https://www.axios.com/coronavirus-r...ess-8d6b102f-09fd-4e6d-8ebf-2914194d8732.html

Only a half dozen Senators left who even care about what is happening.
 
  • Like
Reactions: NTA

·
Registered
Joined
·
1,096 Posts
It is full of more of the pork projects that democrats crammed in it too. Includes $10M for funding "gender programs" and $15M for "democracy programs" to Pakistan.

Screw Pakistan ! These politicians should all be impeached !

Foreign aid to Pakistan and others in Covid Relief Bill causes outrage (opindia.com)

There should not be a dime in any bill for anything outside of this country and nothing that doesn't have to do with chinese virus should be included in the bill ! And even a lot of that is pure BS !

The republicans are as useless as the democrats in doing what is right for this country.
 

·
Registered
Joined
·
3,523 Posts
Congress is expected to plop this bloated monster on Trump's desk today. He already said he will sign it (I wouldn't, VETO! Yeah, baby!)

At 5,593 pages, it is the longest bill ever?

Members of congress were given 2 hours to read it.

It makes illegal streaming a federal felony?

Looks like 600 bucks per adult and child for households under $150k

Unemployment extension at a lower $ amount.

It is almost a trillion (with a T) dollars in spending of borrowed funds. This is on top of the 2.2 trillion spent previously. Our entire budget for the year is normally only 4.5 trillion, and they have to borrow a big chunk of money in a futile attempt to keep up with increases in social security and Medicare spending. They collected only 3.5 trillion in revenue in 2019. You do the math. The deficit was almost a trillion last year, and that was bigger than the year before. It looks like for 2020 the deficit alone is going to be as much as or more than a normal budget. The debt was already $21 trillion (public debt, $27 trillion including intergovernmental debt) before this bill.
https://www.treasurydirect.gov/govt/reports/pd/pd_debttothepenny.htm

What if your household made $350,000 a year, and you normally borrowed, say, last year, an additional $100,000 a year to keep up with your spending? What if this year you borrowed an additional $450,000, bringing your total debt up to $3,000,000? How long could you keep up without massive household budget spending cuts?

Notice the number ratios are about the same.

$350,000 is plenty of income to pay off 3 million in debt, but a household facing that task would need to cut household spending down to $100k or less and focus the funds on debt repayment. Do you think the government is going to cut its normal 4.5 trillion budget down to 1 trillion so it can allocate 2.5 trillion to debt repayment? LOL! SOCIAL SECURITY SPENDING all by itself was a trillion last year! And growing! Medicare all by itself was 7/10 of a trillion, and combined with all the other "health care" related federal spending was another 1.1 trillion.

"Oh, but the government can do tax increases," you say. Really? How much? Not even possible to raise taxes enough to balance the budget at current spending. IT IS NOT POSSIBLE.

Enjoy your $600 per person check.
They aren't looking at tax increases only. They will raise ss age first. Next I'm thinking a vat tax. Finally they have been eyeing a cash reserve out there worth around 20-25 trillion... (401k). They floated the idea a few times in the past of seizing that. Remember its not a fair system because the more money you make the more you can put into it comrade!
 

·
Seasteading Aficionado
Joined
·
44,887 Posts
F to the US dollar once inflation hits when the US economy finally heats back up, whenever that is, if somebody else doesn't release another worse lab-created bioweapon into the world population.
 

·
Moderator
Joined
·
68,159 Posts
Discussion Starter #7
So, for those who already received it:

What are you doing with it?

Spending it?

Paying down debt?

Investing it? In what?

Spreading it out on the bed and rolling around in it and throwing it up in the air?

Putting it towards an expense in the future?

Saving it?

Paying taxes with it?
 

·
Moderator
Joined
·
68,159 Posts
Discussion Starter #8
Note a family with four kids and a married couple receives $3600 (if less than $150,000 in 2019 income). This can make a dent in something.

Even a single taxpayer at $600, which is a Glock and some ammunition, or a chunk on a credit card debt, or a chunk into an IRA . . .
 

·
Registered
Joined
·
3,991 Posts
Note a family with four kids and a married couple receives $3600 (if less than $150,000 in 2019 income). This can make a dent in something.

Even a single taxpayer at $600, which is a Glock and some ammunition, or a chunk on a credit card debt, or a chunk into an IRA . . .
Saving it. No debts.
 

·
Man of Myth and Legend
Joined
·
13,720 Posts
Investments. AKA ammo.

Nemo
 

·
Registered
Joined
·
3,991 Posts
Just in cash, like a savings account or emergency fund?
Just credit union savings at this point. Planning to build a garage/workshop/man cave and will likely consume those funds then. Also just put a catalytic converter and transmission in my Yukon Denali, close to $10k all together so shoring up available cash.
 

·
Moderator
Joined
·
68,159 Posts
Discussion Starter #15
So, for those who already received it:

What are you doing with it?

Spending it?

Paying down debt?

Investing it? In what?

Spreading it out on the bed and rolling around in it and throwing it up in the air?

Putting it towards an expense in the future?

Saving it?

Paying taxes with it?
Three persons respond.

:-|

This forum has devolved into half a dozen folks trolling and name calling in the political off topic threads. That sucks.
 

·
Registered
Joined
·
1,126 Posts
I'll be a fourth. Nothing. It'll be in my checking account which is where I pay for everything. I doubt I'll even really notice it except for a line item on my account's activity list.

But you're right, when I first joined, there was actual firearm discussion. Now, it's basically politics.
 

·
Member Georgia Carry
Joined
·
11,695 Posts
Just for bills and other needs, and save the rest.
 

·
Ninjaneering Computers
Joined
·
2,602 Posts
Currently sitting in my savings account awaiting the next round of doctor bills for my daughter.
 

·
Atlanta Overwatch
Joined
·
13,746 Posts
I bought reloading supplies and an Apple Watch recently. I used mine to pay Visa.
 

·
Cross-drawer
Joined
·
7,078 Posts
I didn't get a check. We made too much to qualify. My oldest son got one and bought me Chinese takeout for supper.
 
1 - 20 of 29 Posts
Top