Economic rescue tops $1 trillion as negotiations continue
Source: AP
By JONATHAN LEMIRE, LISA MASCARO and ANDREW TAYLOR
WASHINGTON (AP) Top-level negotiations between Congress and the White House pushed into the night Saturday on a ballooning $1 trillion-plus economic rescue package, as President Donald Trump urged a deal to steady a nation shuttered by the coronavirus pandemic.
With a population on edge and financial markets teetering, all sides indicated a deal is within reach. At issue is how best to keep paychecks flowing for millions of workers abruptly sidelined by the crisis.
Talks also narrowed on a so-called Marshall Plan for hospitals as well as industry loans to airlines and others all but grounded by the virus outbreak and national shutdown. The post-World War II Marshall Plan helped to rebuild Western Europe.
Officials put the price tag at nearly $1.4 trillion and said that with other measures from the Federal Reserve it could pump $2 trillion into the U.S. economy.
In this image from video, Senate Majority Leader Mitch McConnell, R-Ky., speaks on the Senate floor at the U.S. Capitol in Washington, Saturday, March 21, 2020. (Senate Television via AP)
Read more: https://apnews.com/9aeebd670bd0bc320ae6cebd1c17ddf3
Laura PourMeADrink
(42,770 posts)dweller
(23,641 posts)start paying ...
✌🏼
msongs
(67,413 posts)corporate robbery for the 1%
interest rates are dirt low let corporations borrow money against their possessions
sandensea
(21,639 posts)But small miracles do happen.
iluvtennis
(19,862 posts)to bail themselves out.
DENVERPOPS
(8,835 posts)why the politician is standing there all alone with no one else anywhere?
They give their speech late at night while they are all alone with their cameraman. That way, when they play it for their constituents back home, their constituents think that he gave the speech to the entire House or Senate. They don't even notice the lack of people. He can say anything he wants and no matter how wrong, there is no one there taking notes or transcripts.........
rockfordfile
(8,704 posts)ancianita
(36,074 posts)Human death is not.
Humans are the greatest assets of a nation. Americans create its wealth.
They'd BETTER pay us back what we made and paid. This money is not their money. They want you to think it's their money now, and they're "lending" us back what we already paid in taxes. Why do you think Mnuchin in the Treasury can just come up with a $1trillion? Because it's in the IMF's offshore bank in the Virgin Islands. It's OUR money that they've hoarded.
American wealth is based on American health.
EDIT: Now the offer's $2Trillion.
Sapient Donkey
(1,568 posts)notdarkyet
(2,226 posts)BigmanPigman
(51,609 posts)Can we reverse it once Biden becomes POTUS?
iluvtennis
(19,862 posts)BigmanPigman
(51,609 posts)the GOP and supporters will still hate us and blame us for BS, like they did when Obama and our recent Dem POTUSes saved the day/economy. I wish we could only help those who have enough sense not to vote against their own best interests. It happens over and over and over.....
iluvtennis
(19,862 posts)ancianita
(36,074 posts)Last edited Sun Mar 22, 2020, 05:26 AM - Edit history (1)
Oh my god! No more apocalypse fantasy! Just peaceful reality!
Let them sweat this. They've had it coming.
We are not what they call us. We are only what we answer to.
We never have to answer to them again.
cstanleytech
(26,293 posts)the economy.
The rest should go to infrastructure spending as it would put a ton of people to work but the corporations should not get any bail out because we already did it once and what did they do?
Bought their stock back, offshored more jobs and kept wages still lower than whats needed for people to be able to do things like be able to stop living paycheck to paycheck not to mention be able to save enough of it for retirement so I say a big FUCK YOU to the corporations wanting a bailout.
duforsure
(11,885 posts)We and trump and the gop are screwed , and it'll head us into a possible trump depression from trump and McConnell stiffing the American people ,, and more like 3-4 trillion is needed with a lot more of it going directly to the people or this will fail and will be even worse from their incompetence now. trump and the gop are well aware of this too. Senator Warren is the leader we need now over all this , not pence and trump. Her appointment now would help stabilize the markets well too. Also bring confidence to the American people because trump and pence sure don't. trump and mitch both want to stiff us like trump does to his contractors all the time, and are trying to lower any amounts going to the people , and give it to the large corporations over us.
lark
(23,105 posts)They are trying to use this to destroy us. Don't let them touch payroll taxes for us or for business, it's the start of them stealing all of our hard earned money. Don't let them give billions of dollars (for free) to industries that just got billions in tax relief and only used it to enrich themselves. Those co. get loans with interest, not a handout of our money and that includes drumpf.
Don't approve anything that hurts us, or takes away our rights because we will never get them back.
LudwigPastorius
(9,155 posts)any direct payments will be based on income. i.e. you make $150K a year, you get $2,400.00. You make $75K...$1,200. Yo make $30K you get $600.00.
Shouldn't this be the other way around? The less money you make, the less likely you have saved enough to get by.