bailout?

[miamited]

Trump Admin. Seeking $850 Billion Coronavirus Stimulus Package from Congress | National Review

The story line is that the Trump administration is set to ask for a $850B bailout, of which $50B is earmarked for airlines. Now, admittedly in the previous bailout the lion's share was given to financial institutions, but...

Wasn't the bailout plan under President Obama a bad idea according to the head of this administration? Wasn't the bailout under President Obama only $700B? Does anyone suppose that this bailout isn't going to make that national debt, which we should have half paid off by this time in President Trump's administration according to his claim that he'd have it paid off within 8 years, explode?

I just wonder about a person who claims that previous administrations did it all wrong during a crisis and makes promises to fix things and then goes and does the exact same thing in his own crisis and, so far, hasn't even addressed his promise of how easy it was going to be to have a balanced budget and have the national debt paid off in 8 years. Of course, I keep forgetting that this administration's wisest adviser is a fat gut.

So, once again we find that the man with all the answers still has no idea how hard this job can be. Just like his new and better health care plan that anyone has yet to even see.

God bless,
In Christ, ted

 

[redleghunter]

The story line is that the Trump administration is set to ask for a $850B bailout, of which $50B is earmarked for airlines. Now, admittedly in the previous bailout the lion's share was given to financial institutions, but...

Wasn't the bailout plan under President Obama a bad idea according to the head of this administration? Wasn't the bailout under President Obama only $700B? Does anyone suppose that this bailout isn't going to make that national debt, which we should have half paid off by this time in President Trump's administration according to his claim that he'd have it paid off within 8 years, explode?

Hi Ted and good day brother.

Do you truly see a comparison to the two different situations?

In the WS bailout it was Wall Street banks who issued bad loans and then traded them. That bailout was to “reward” bad behavior.

This time? It’s a virus.

I guess I do see a difference. Do you?

 

[HannahT]

I think it is a little early to talk bailouts anyway.

 

[miamited]

Hi RLH,

Yes, they both created a financial crisis. Yes, the underlying reason that we find ourselves in a financial crisis is different, but the outcome of a serious financial meltdown is the same.

You are certainly free to measure the problem based on the underlying cause, but I'm more interested in the crisis response and problems created by the crisis and how they are handled by the respective leaders.

So, while the underlying cause of each crisis is different, the financial response doesn't seem to be.

BTW, all indications are that we made the money back that we gave out in the previous bailout. Do you think we will do the same this time?

God bless,
In Christ, ted

 

[RDKirk]

Hi Ted and good day brother.

Do you truly see a comparison to the two different situations?

In the WS bailout it was Wall Street banks who issued bad loans and then traded them. That bailout was to “reward” bad behavior.

This time? It’s a virus.

I guess I do see a difference. Do you?

What difference does the difference make?

Why won't my favorite restaurant get a bailout?

 

[Maria Billingsley]

Trump Admin. Seeking $850 Billion Coronavirus Stimulus Package from Congress | National Review

The story line is that the Trump administration is set to ask for a $850B bailout, of which $50B is earmarked for airlines. Now, admittedly in the previous bailout the lion's share was given to financial institutions, but...

Wasn't the bailout plan under President Obama a bad idea according to the head of this administration? Wasn't the bailout under President Obama only $700B? Does anyone suppose that this bailout isn't going to make that national debt, which we should have half paid off by this time in President Trump's administration according to his claim that he'd have it paid off within 8 years, explode?

I just wonder about a person who claims that previous administrations did it all wrong during a crisis and makes promises to fix things and then goes and does the exact same thing in his own crisis and, so far, hasn't even addressed his promise of how easy it was going to be to have a balanced budget and have the national debt paid off in 8 years. Of course, I keep forgetting that this administration's wisest adviser is a fat gut.

So, once again we find that the man with all the answers still has no idea how hard this job can be. Just like his new and better health care plan that anyone has yet to even see.

God bless,
In Christ, ted

What is a national debt?

 

[miamited]

What is a national debt?

Hi maria,

I'm going to assume that's some sort of joke. If you really don't know, you could try Google. I can't imagine any adult American not knowing what 'the' national debt is.

God bless,
In Christ, ted

 

[Maria Billingsley]

Hi maria,

I'm going to assume that's some sort of joke. If you really don't know, you could try Google. I can't imagine any adult American not knowing what 'the' national debt is.

God bless,
In Christ, ted

Yes, it was a joke.

 

[Mountainmanbob]

I just wonder about a person who claims that previous administrations did it all wrong



during a crisis and makes promises to fix things and then goes and does the exact same thing in his own crisis and, so far, hasn't even addressed his promise of how easy it was going to be to have a balanced budget and have the national debt paid off in 8 years. Of course, I keep forgetting that this administration's wisest adviser is a fat gut.

So, once again we find that the man with all the answers still has no idea how hard this job can be. Just like his new and better health care plan that anyone has yet to even see.

God bless,
In Christ, ted

Hi Ted
Kind of reminds me of Obama blaming Bush.
M

 

[miamited]

Hi Ted
Kind of reminds me of Obama blaming Bush.
M

Hi MM,

Well, I think for President Obama, it was true. He was given a crappy financial meltdown that was already in progress. The lowest point of the market was in March of '08 and President Obama wasn't sworn in until January of '09. Although I'm not sure why this reminds you of the 'blame' game. So far, President Trump hasn't tried to blame President Obama for much of it. Although I did hear him claim, incorrectly I might add, that it was President Obama who took down our health protections against such an event as this. It was actually President Trump who was in control when the pandemic response team was disbanded last year.

God bless,
In Christ, ted

 

[redleghunter]

Why won't my favorite restaurant get a bailout?

Go and order take out or delivery from them. That will be a direct bailout.

 

[redleghunter]

BTW, all indications are that we made the money back that we gave out in the previous bailout. Do you think we will do the same this time?

Yes I do. Because these are industries which provide services people want and need.

 

[RDKirk]

Go and order take out or delivery from them. That will be a direct bailout.

That's not going to help the servers who got laid off. And many restaurants--including my favorite--operate on such a narrow margin that take out orders aren't going to keep them afloat.

 

[redleghunter]

That's not going to help the servers who got laid off. And many restaurants--including my favorite--operate on such a narrow margin that take out orders aren't going to keep them afloat.

Where I live the servers are the ones batching the meals for pickup.

There was still a place to tip them on the receipt.

 

[Albion]

Does anyone suppose that this bailout isn't going to make that national debt, which we should have half paid off by this time in President Trump's administration according to his claim that he'd have it paid off within 8 years, explode?

I suppose so...if Trump "shoulda known" that a virus of this severity was going to hit during his administration.

Is that your take on that matter?

 

[Mountainmanbob]

many restaurants--including my favorite--operate on such a narrow margin that take out orders aren't going to keep them afloat.

Our favorite restaurants also affected. This thing is going to effect everyone in some kind of way. I'm sure many businesses will end up shutting their doors forever.

Be nice if all would work together.
Little test going on --
Have Faith Stay Strong.

M-Bob

Came back into post with this --
Just heard restaurants may be closed for up to three or four months.

Hope we do not see that.
That would wipe out many.
Take out just ain't the same
although we all might get used to it.

 

[redleghunter]

Our favorite restaurants also affected. This thing is going to effect everyone in some kind of way. I'm sure many businesses will end up shutting their doors forever.

Be nice if all would work together.
Little test going on --
Have Faith Stay Strong.

M-Bob

Came back into post with this --
Just heard restaurants may be closed for up to three or four months.

Hope we do not see that.
That would wipe out many.
Take out just ain't the same
although we all might get used to it.

Just might find out most restaurants do well with this. Take out or curbside for a restaurant like Olive Garden is very efficient. However when doing both take out orders and dining customers they have to split the effort. You probably see this in fast food restaurants. Sometimes you wait longer dining in because they are working hard to keep the drive thru running.

With the call ahead take out that really helps these closed to dining restaurants focus on throughput. I saw servers in Houston (which closed their dining in services last night) helping in the kitchen, bagging meals and taking meals to the cars. There was still a place on the receipt for a tip and we should be generous during this time.

I stayed in a hotel last night on my visit to Houston. They slipped a note under the door around 2100 hours last night. If said daily room clean up was suspended and only once a week service available. They would honor special requests because many of their customers are cancer patients lodging for visits to a cancer center.

I go to this particular hotel often. I asked the manager what will happen to the cleaning people if they don’t do rooms daily. She said they were not going to be laid off but will be doing deep cleans of each room upon checkout and also constantly wiping common surfaces. They did cancel the normal free breakfast and evening food.

 

[miamited]

I suppose so...if Trump "shoulda known" that a virus of this severity was going to hit during his administration.

Is that your take on that matter?

Hi albion,

I'm not sure what it is that your asking. Is what my 'take' on the matter. President Trump said 3 and a half years ago that achieving a balanced budget would be easy and immediate. He then doubled down on his supposedly superior business acumen and claimed that he'd have the national debt paid off in 8 years. It's all on the record.

So, here we are, just over 3 years into his presidency and not only has there not been any effort made to achieve a balanced budget, but we're actually much further down the proverbial drain as far as our national debt. There has not only been absolutely no effort made to pay off our national debt, but it's ballooned further out of control. This was before anyone even knew that there was such a thing as the 'coronavirus'. Now that he has been hit with a crisis, and lots of presidencies get hit with crisis from time to time, he's touting something like a trillion dollar bailout for which there is absolutely no money in the treasury to pay for.

It will actually be sadly funny if President Trump leaves us with an even greater debt, dollar for dollar, than President Obama did. According to 'TheBalance.com', President Obama added just over 8 trillion to the national debt during his two terms in office. That's over a period of 8 years. President Trump has added 3 trillion to the debt in his three years in office. The difference is that President Trump hasn't faced his big crisis yet. The budget deficit for the first four months of fiscal year 2020 is 389 billion. Multiply that by 3 and you have a fiscal year deficit estimate of 1.15 trillion. Oh but wait, that's not accounting for this 1 trillion give away that's in the works.

So, my take on the matter is that once again President Trump has led us all down the merry path of lies and broken promises. For which some people like him, it seems quite a lot, and some don't.

God bless,
In Christ, ted

 

[miamited]

Yes I do. Because these are industries which provide services people want and need.

Hi RLH.

Uhhhh, have you been listening to the news lately. There are reports that he's talking about just writing checks to send out to individuals. I don't expect I'll be paying mine back...how about you? President Obama bought warrants with his loans to businesses. In essence, the treasury bought stocks in the various companies as a loan. As the economy improved, in the majority of cases, the U.S. Treasury was able to liquidate those holdings for more than they paid for them. I'm not offering any warrants to the treasury for the check they might send me. How about you?

I'm honestly not sure that I see your correlation that giving money to businesses which provide services that people want and need, even though it seems that a large part of his plan is not to give the money to businesses, means that it will be repaid.

I'm also not clear on why you are pointing out that these are industries which provide services people want and need. You never needed a mortgage or a bank loan for a car? Must be nice to be so independently wealthy that you never wanted or needed to borrow money in you life. Personally, I'm going to go out on a limb here and say that you wear glasses and the lenses are probably some shade of 'rose'.

God bless,
In Christ, ted

 

[miamited]

Hi all,

Since it's my thread, I have the authority to digress.

Is there anyone out there in CF land that can respond to me with what President Trump's new and better healthcare plan is? Anyone? I mean it's been over 3 years. Surely, while he seems to have kept it a secret from the general public, there are his loyal sycophants that know what it is right? Or is this just another, "Oh we're not going to talk about that", as they whistle down the street with their heads in the clouds.

Anyone? Just so everyone knows what I'm referring to, in June of 2019 President Trump had this to say:

"If we win back the House, we're going to produce phenomenal health care. And we already have the concept of the plan, but it'll be less expensive than Obamacare by a lot."

He claims that at the time he made this statement that they already had the 'concept of the plan'. Anybody know what the 'concept of the plan' is? In other statements he claimed that his administration would be rolling it out just a couple of months after that July statement. Anybody seen it yet? Let's see, july, August, September, November, December, January, February...I don't know, that seems like an awfully long couple of months. Anybody have a clue as to what it is and how much it's going to save us from the current costs of the ACA insurance market plans.

Although he's oddly been very quite about this yuge plank in his platform before he was elected, nobody yet knows what it is. He made an attempt to overturn the present ACA just after taking office, but without any replacement plan to be considered, that effort didn't go very far. He just joked that he had no idea that healthcare could be so difficult and other than a couple of feeble efforts to change the ACA, we've yet seen nothing as far as any new plan that's going to be 'phenomenal' and 'far less expensive'.

Anybody?

God bless,
In Christ, ted