$2.2 Trillion for Revised HEROES Act

[Milchshake]

On Monday a compromise on the May proposal was announced by congress.
The next steps involve McConnell allowing it through the senate, and Trump signing it.

• Does McConnell allow a vote for the good of the country?
• Does he kill the bill as one last fuck you, before losing power after the next 100 days?

$2.2 trillion HEROES Act would provide second round of stimulus checks

The House Democrats' revised stimulus bill would restore some popular programs that were devised to help families weather the coronavirus pandemic. Chief among them: $1,200 per adult stimulus checks targeted to middle- and low-income families.

Democratic lawmakers introduced the measure on Monday ahead of negotiations with Treasury Secretary Steven Mnuchin. In a statement, House Speaker Nancy Pelosi said the bill reflects a package that's $1.2 trillion less than the Democrats' original HEROES Act in May, which failed to advance amid opposition from Republicans. The new bill is called the updated HEROES Act, which stands for Health and Economic Recovery Omnibus Emergency Solutions Act.

The new bill would also restore $600 in extra weekly jobless benefits, which until expiring in July provided a lifeline to tens of millions of adults who lost their jobs when the pandemic crippled the economy in March.

[GreenJesus]

Although I'd love to get the "free" $1,200, I have been employed this entire time and have spent less money. Why should I get this stimulus check? Unemployment is "only" 8.8%. They are casting way too large a net with these checks.

All this does is bankrupt our country and put us further in debt. We are going to be paying interest on this for decades.

[Edge-]

Although I'd love to get the $1,200 I have been employed this entire time and have spent less money. Why should I get this stimulus check? Unemployment is only 8.8%. They are casting way too large a net with these checks.

That's why they're giving everyone checks. Because to get the economy going they need people spending, not saving. Money stashed in the bank doesn't help the economy or businesses. Money spent does.

All this does is bankrupt our country and put us further in debt.

Global pandemics that threaten longterm damage to the economy are pretty much the EXACT time when you spend like mad and go into debt. This would be less of a problem if a Republican president hadn't gotten us into multiple pointless, expensive wars, or if the Republicans hadn't slashed federal revenues with the 2017 tax cut.

[s_bushido]

All this does is bankrupt our country and put us further in debt. We are going to be paying interest on this for decades.

Gee, it's almost like we should stop permitting the wealthiest among us to pay nothing in taxes, then.

[unfilteredJW]

Although I'd love to get the "free" $1,200, I have been employed this entire time and have spent less money. Why should I get this stimulus check? Unemployment is "only" 8.8%. They are casting way too large a net with these checks.

All this does is bankrupt our country and put us further in debt. We are going to be paying interest on this for decades.

Found the guy with little economic knowledge.

[Zan15]

Although I'd love to get the "free" $1,200, I have been employed this entire time and have spent less money. Why should I get this stimulus check? Unemployment is "only" 8.8%. They are casting way too large a net with these checks.

All this does is bankrupt our country and put us further in debt. We are going to be paying interest on this for decades.

Unemployment is only 8.8% because it does not count independent contractors and expanded definition of unemployed.

u6 is 14.2% and independent contractors would add another 6-9% to that number.

Plus DOL has admitted they are probably undercounting unemployment by at least a few %'s.

So 10% is an easy bet on the real u3 number and 25-30% on the total.


The stimulus is not meant to just replace wages. You are confusing Economic Stimulus with unemployment.

All this does is bankrupt our country and put us further in debt. We are going to be paying interest on this for decades.

it doesn't come close to bankrupting us.
it does put us further into debt but its still manageable.

30 trillion sounds like a lot until you realize this is debt that is due 1-3-5-20-30+ years. Most of it long term.
Total GDP for the term of most of our debt is hundreds of trillions of dollars.

[Nellise]

That's why they're giving everyone checks. Because to get the economy going they need people spending, not saving. Money stashed in the bank doesn't help the economy or businesses. Money spent does.

But there's nothing to spend it on for people like him and me who have ended up saving more money than usual during this. We're not supposed to go anywhere with crowds which rules out lots of places to spend money. I'm not going to eat twice as much or get like 12 Netflix subs just for fun.

[Ivanstone]

Although I'd love to get the "free" $1,200, I have been employed this entire time and have spent less money. Why should I get this stimulus check? Unemployment is "only" 8.8%. They are casting way too large a net with these checks.

All this does is bankrupt our country and put us further in debt. We are going to be paying interest on this for decades.

As a small business owner I provide the government with money via sales tax. Is it better that I keep on doing this or do I provide the government with less money or potentially no money if I go out of business? I also spend money buying product and buy services that keep my business running. These people also keep the economy running. Is it better that money goes away?

People spending money keeps the economy running. Running up the deficit is undesirable. So is a large recession where people starve and lose their homes.

- - - Updated - - -

But there's nothing to spend it on for people like him and me who have ended up saving more money than usual during this. We're not supposed to go anywhere with crowds which rules out lots of places to spend money. I'm not going to eat twice as much or get like 12 Netflix subs just for fun.

I can sell you some comics.

Use your imagination.

I probably don't need a new computer but I am sorely tempted to do just that.

[Milchshake]

Found the guy with little economic knowledge.

Same guy?

About to Donate to Bernie, but don't want spam mail

I dunno how one goes from Bernie-to-fiscal-conservatism so quickly?

[Ivanstone]

Same guy?

About to Donate to Bernie, but don't want spam mail

I dunno how one goes from Bernie-to-fiscal-conservatism so quickly?

One doesn't unless one is a concern troll.

[Nellise]

I can sell you some comics.

Use your imagination.

I already did some stuff like that, like I got Comixology, but that was $6 for a month versus $100+ for a concert or even $30 at a bar in one night.

[Ivanstone]

I already did some stuff like that, like I got Comixology for a month, but that was $6 for a month versus $100+ for a concert or even $30 at a bar in one night.

Go to the local liquor store and visit your favourite band's website and buy some merch.

Previously I would never have considered doing either but its a little more tempting nowadays. I was looking forward to seeing Flotsam and Jetsam this past spring and Eluvitie this fall. Now I can't do either. Really regret passing on Soulfly last February.

[Milchshake]

Go to the local liquor store and visit your favourite band's website and buy some merch.

Previously I would never have considered doing either but its a little more tempting nowadays. I was looking forward to seeing Flotsam and Jetsam this past spring and Eluvitie this fall. Now I can't do either. Really regret passing on Soulfly last February.

Great point! I have also been spending more on bandcamp. Even though I dont qualify stim checks. Another incongruity on the board; posters brag about six-figure incomes in on thread, then claim stimulus checks in a different thread

Speaking of bands im supporting @Felya have you listened to Major Parkinson? If Mr. Bungle had a Swedish roommate, it would be these guys

[PACOX]

Although I'd love to get the "free" $1,200, I have been employed this entire time and have spent less money. Why should I get this stimulus check? Unemployment is "only" 8.8%. They are casting way too large a net with these checks.

All this does is bankrupt our country and put us further in debt. We are going to be paying interest on this for decades.

There's plenty of organizations and causes you can give the money too.

[Edge-]

Great point! I have also been spending more on bandcamp.

Eyyyyyyyy, me too! I've long-since stopped pirating music from my younger days, I actually like supporting bands that I enjoy and feel good purchasing the music. Bandcamp is great, and even if their explorability isn't great it's super convenient.

If we get another check it'll probably go towards hardware (new computer...), but since my overall spending has gone down on average (not eating out at lunch like I used to) I try to make up for it by "treating" myself to a new album or some other fun thing from time to time.

[Zan15]

But there's nothing to spend it on for people like him and me who have ended up saving more money than usual during this. We're not supposed to go anywhere with crowds which rules out lots of places to spend money. I'm not going to eat twice as much or get like 12 Netflix subs just for fun.

then take the money and invest it.
Pay down a mortgage.
Pre pay some rent

etc etc

there is more ways to stimulate the economy then directly buying something.


Hell if you really don't need it donate it to those in need. Buy food and donate to food pantry.

[Breccia]

That's why they're giving everyone checks. Because to get the economy going they need people spending, not saving. Money stashed in the bank doesn't help the economy or businesses. Money spent does.

Also known as the "why the tax cut for the rich didn't help the economy" lesson. It was used on stock buybacks and GDP never cracked 3%, like Trump promised, and it didn't pay for itself, like Trump promised.

[Beazy]

I could use one of those new 2080s. But I dont think it will pass, republicans will block it somehow because Pelosi touched the bill without gloves.

[Zan15]

I could use one of those new 2080s. But I dont think it will pass, republicans will block it somehow because Pelosi touched the bill without gloves.

state funding.

Even though the majority of the money per capita would go to states that voted for Trump in 2016.


You know the tax supporting states like NY, CA, NJ, CT..... would get 1000 bucks per resident while Kentucky and West Virginia would get like 9001.

can't help an entire political party and supporters continuing to vote against their own needs and benefits.

[GreenJesus]

But there's nothing to spend it on for people like him and me who have ended up saving more money than usual during this. We're not supposed to go anywhere with crowds which rules out lots of places to spend money. I'm not going to eat twice as much or get like 12 Netflix subs just for fun.

Yep. I'm literally just slapping that money into stocks. Like.. thanks Uncle Sam I guess? I just don't see why people that have been employed this whole time need a "stimulus". Even if you gave them more money they won't have anything to spend it on. The fed is literally just printing money so I can buy stocks and we get inflation.

It just seems incredibly wasteful to indiscriminately give money to anyone regardless of their employment status.