Thanks to the vigilant fight by the Democrats, we may end up with a bail out that actually helps the people
First of all, I want to thank the Washington Post for opening this article for free access. Now everybody can read. In addition, I extent thanks to the Democratic leadership, including Nancy Pelosi, for rejected the trump and republican attempt to bail out businesses, especially large businesses at the expense of we the ordinary citizens. Government and business are both supposed to serve the people, not the other way around.
But the democrats have fought the good fight and are getting closer to a completed bill which should help everybody in America. There are some areas where I would ask, no demand, strong guidelines and vetting but over all, the package as presented is fairly good. There were hopes that it might be passed by the end of Tuesday, but that hope seems remote at this point.
What is in the package:
1. 1200.00 per most adults, and 500.00 for most children. Now, 1200.00 is not that much if it is one time deal, might pay for some people’s rent and utilities for a month, but that would certainly help. (I don’t know what “most” means at this point but sounds good)
The wonderful thing is that the Democrats have come out swinging for the “little guy”. They realized and tried to make the republicans see that a bailout that goes to the top of the economic ladder, and no help for the average person, is not going to help in the long, or I would say even the short term.
2. Expand unemployment insurance offering displaced workers 600 dollars a week for four months. Good for the person involved and the economy.
3. 130 billion dollars for hospitals which would be a great help in saving lives
4. 150 billion to state and local governments to help them survive and do the local hands on work to keep local functions going.
5. Now there is a small business component that I think is great. It is 367 billion dollars. Same businesses tend to be local and our neighbors rather than faceless impersonal “things”.
The five points above are wonderful things that should help the economy and also help ordinary citizens in order for them to survive and even do fairly well in the long term if not all together in the short term as they are reeling from having to stay in and not be able to work in many of their cases.
Now comes the part that i find somewhat problematic. As anyone that has followed my writing knows, I have a problem with the current economy because it is so stacked for the upper echelon. Republicans will tell you that if you give billionaires more money, somehow it will “trickle” down to the poor. But then at the same time, we end up getting suggestions that the huge tax cut they gave billionaires (and called a tax-reform) might be paid for by attacking social security and medicare. In other words, trump and the republicans seem quite willing to sacrifice the poor and middle class at the altar of huge corporations.
That is not acceptable. Fortunately, although there is going to be some bail out of big companies in any bill that gets passed, the Democrats are working to make sure it is not without stipulation or oversight. And that oversight can NOT and WILL NOT be trump doing it himself as he seemed to suggest as reported.
6. 500 billions in loans available to large businesses. At least this is worded as “loans” instead of bailout. That way when these huge corporations start floating in money again, they will have to look into paying back the tax payers that gave them the loan. There is also an attempt to regulate how and where this money gets used. (so maybe just maybe this money won’t be used for stock buy backs and paying off executives and otherwise screwing the general public)
7. 50 billions is to go to airlines Why???? Is it to pay employees and maintenance and how will that be regulated and assured.
8. then there is a blur of other groups like hotels and cargo carriage and tour companies.
I certainly would ask that the Democrats not give on the part of having an independent reviewer look at the purpose for which corporations are asking for money, and how they justify the need. If they can’t show a huge loss, don’t give them money. No corporation should get money for anything that doesn’t prove necessary to keep them afloat during a time of low usage or continuing to pay their employees rather than forcing addition people onto the unemployment rolls.
Personally, I would like to say a stipulation that no trump business gets any money, just to make sure trump himself doesn’t manage to profit off these hard times, at all, but I doubt that would be possible…or might it?!!