Go Debt! - For the First Time Ever, Uncle Sam’s Aid to U.S. Tops Quarterly GDP

MsMorrisine

barrons article

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=newssearch&cd=&cad=rja&uact=8&ved=0ahUKEwjLl6aX0_3qAhXHMd8KHa_8A7sQxfQBCCswAA&url=https://www.barrons.com/articles/for-the-first-time-ever-uncle-sams-aid-to-u-s-tops-quarterly-gdp-51596244795&usg=AOvVaw2IE9VqPhZgzsJTCneV_jcL

‘A massive welfare economy’ - huge federal aid prevents an even steeper GDP collapse

https://www.marketwatch.com/story/a-massive-welfare-economy---huge-federal-aid-prevents-an-even-steeper-gdp-collapse-2020-07-30

dennis1219

Welfare states always work out well. I think I am wasting my time responding to this thread, when I could be buying more ammo and freeze dried foods.

TwoSides2aCoin

I realize one party wants more debt and less fiscal responsibility.

cohodk

@TwoSides2aCoin said:
I realize one party wants more debt and less fiscal responsibility.

Which one?

Yup, this "bailout" is certainly different than those before. As some here have spoken, inflation will result from supply/demand dislocations, moreso than money printing. Nothing like shutting down an economy to create those dislocations. Many goods and services are in short supply.

blitzdude

@cohodk said:

@TwoSides2aCoin said:
I realize one party wants more debt and less fiscal responsibility.

Which one?

Yup, this "bailout" is certainly different than those before. As some here have spoken, inflation will result from supply/demand dislocations, moreso than money printing. Nothing like shutting down an economy to create those dislocations. Many goods and services are in short supply.

Ditto, which one. lol

MsMorrisine

and I think comparing debt to gdp isn't good. why not tax revenues or just "gov't revenues?"

Jimnight

rcmb3220

@TwoSides2aCoin said:
I realize one party wants more debt and less fiscal responsibility.

Also, so does the other party. I don’t think I’ve heard either side talk about fiscal responsibility in at least 8 years.

TwoSides2aCoin

@rcmb3220 said:

@TwoSides2aCoin said:
I realize one party wants more debt and less fiscal responsibility.

Also, so does the other party. I don’t think I’ve heard either side talk about fiscal responsibility in at least 8 years.

Yeah. We ought to get rid of the elephant and donkey and just have one big swinefest.

ShadyDave

Both parties are to blame, they want you to blame one party. Dividing and conquering is a tried and true way to keep the heat off of them and us arguing with each other instead of doing something about it.

"Its one big club and you ain't in it!" -George Carlin

2ndCharter

Both parties are to blame, they want you to blame one party. Dividing and conquering is a tried and true way to keep the heat off of them and us arguing with each other instead of doing something about it.

I totally agree - I'm a diehard Conservative and I remember back in 2008, I called the Office of my Republican Congressman and told his staff member that I swore a Holy Oath that I would never vote for his boss again because he rolled over on TARP. (As an aside, he lost a primary for South Carolina Governor in 2010 but the Deep State gave him a cushy job).

Now, the Virus bailouts make TARP look like pocket change. Where does it end? With a Federal Debt of $26.5 Trillion and counting, it can't go on forever.