Will there be any Covid 19 economic relief?

only a sojourner

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I am increasingly doubtful whether there will be any financial relief regarding Covid 19. The president's executive orders are running into resistance from Democrats and state governments, especially the provision that state's provide $100.00 of the $400.00 unemployment payment when they are already financially strapped due to a collapse in revenue. There is also the issue of the consitutionality of the executive orders which are likely to be challenged in the courts with any effective implementation delayed. In addition there is also the fact that the relief itself itself is woefully insufficient and that we may be heading into a significant economic crisis to coincide with the election.
 

Arcangl86

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So is the federal government.
The federal government also has more freedom to borrow then the states do. This is actually the exact reason you want to reduce deficits when the economy is doing well, so you can afford to borrow heavily if it is danger of collapsing.
 
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Davist

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The other day, Trump vowed he'd make permanent cuts to payroll taxes if reelected. The concern of this action is that it will end Social Security and Medicare since 90% of the funding for those programs is through payroll tax.

Did Trump Vow to 'Terminate' Social Security?

I've waited a few days to see if he wanted to elaborate this plan to the press, but so far has not detailed any plans on alternative funding plans for SS and medicare.

It's also possible Trump was making up nonsense, as he does, as these permanent cuts aren't mentioned in the official brief. He could have just said this off the cuff thinking it would make him look good for reelection, not having any understanding of what the payroll taxes actually do.

So in addition to all this financial insecurity, now we all have to wonder if SS and medicare will evaporate as well. Wonderful.
 
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CRAZY_CAT_WOMAN

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Trump is just falling back on his old playbook, cut taxes, spend money that the government doesn't have. I don't think it will get him the votes he needs.
Yes ,he cuts taxes for him and his rich friends. That took money away from things like a pandemic. And now in Pandemic. They're are trying to get money economic relief. Who pays for this in the end?
 
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Paulos23

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Yes ,he cuts taxes for him and his rich friends. That took money away from things like a pandemic. And now in Pandemic. They're are trying to get money economic relief. Who pays for this in the end?
The next generation, who will pass it on to the next.
 
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