Thoughts on this bailout and “stimulus”?

nontyp

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What are you guy’s thoughts on these bailouts? I think its a complete waste of money. especially bailing out airlines, hotels and other big companies. Let them fail. If they weren’t prepared for hard times then it’s their responsibility to figure it out. We need to set precedent that the government is not going to bail everyone out every time there’s a crisis. Sorry, I know I sound like a grumpy old man. I just know that a day of reckoning is coming where we are going to have to pay down all this national debt.
 
Small business, one full time employee, one part time and Couple 1099 subs, I got a rainy day fund that will last 2-3 months luckily this go around. Still got work in progress for at least 1-2 months. 09 was a blood bath, I learned from my mistakes from then.. hopefully.. government didn’t help me then and I haven’t looked yet but I don’t imagine they will help me now being self employed. I gotta write a check for 5g to the fed when I file, might take advantage of that 90 days though, hate to give em the cash if the world is gonna end, much rather spend it on midget strippers and blow.

Cheers to everyone getting a check, keep in mind, government doesn’t just print money, someone sometime is gonna pay that tab, likely your kids or kids kids.
 
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How do I get to my meeting in August if all the airlines go under in June?

If I can’t grow my business, which requires travel then I guess I have to down size and lay you off.

I too am skeptical of bailouts, but I’m also cognizant of the fact that the economy is complicated and all of our jobs are intertwined.
 
How do I get to my meeting in August if all the airlines go under in June?

If I can’t grow my business, which requires travel then I guess I have to down size and lay you off.

I too am skeptical of bailouts, but I’m also cognizant of the fact that the economy is complicated and all of our jobs are intertwined.

Agreed, there would definitely be a period of inconvenience as some airlines go bankrupt. It wouldn’t be pretty, but wouldn’t be the end of the world. The airlines aren’t going away just because they go bankrupt.
 
I'm pretty good and thank God for it. Luckily, my wife and I will continue getting paid through all this. If it looks like we would end up getting something, I'll probably donate most of it to people in more need than I. We live in a poor area of Ohio so there are a lot of people who'll need it....especially if the road construction projects get shut down. Most travel to Cincinnati to work construction. The only thing I might get with it would be a new red dot scope for my turkey hunting shotgun.
 
In Maryland all restaurants and bars are closed. I have friends that have been successful entrepreneurs for thirty years. Their businesses have provided good incomes for their families and their employees and now they are just getting wiped out.

People can blather on about being prepared and hey, if you have six months of cash set aside for you and your employees, good for you. The reality is these folks are suffering thru no fault of their own. I support doing whatever we can to help as the impacts I have already seen are enormous.
 
Giving people money outright (that the government doesn’t have) just reinforces bad financial habits from the individual up to the giant corporation. Americans’ financial habits are so bad, and have been so bad for so long, we just see it as normal. There’s no excuse for any person or business or other entity not being prepared for a crisis. I’d much rather see short/term adjustments to loan terms, existing aid eligibility, and other government red tape rather than toss an emergency fund at someone that they should have saved themself. This is not so much about teaching someone a lesson, but rather not looking to the government to be “big enabler daddy”
 
I want the option to opt out. I dont want the money. And I dont want the fallout from everyone else getting the money.

America should not be using our govt as a crutch to help them out in a time of financial crisis. They should be pulling themselves up by the boot straps.
This pisses me off more than welfare.

This country rewards bad behavior.

If we get 1000 checks, know this, those thousand dollar checks are going to cost you 4,000 by the time they get it back out of all of us.

WAKE UP AMERICA AND STOP LIVING ABOVE ALL OF YOUR MEANS!
 
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Or perhaps they should not own or try to own a house in the first place. Some people should be renters for life. Because thats what they can afford.

New cars, New Houses, New side by sides, new campers.

I see it all the time. And I know for a fact that the people are just "Scraping by".
 
I have issue with the $50 Billon dollar bail out of the airline industry, again. Since the U.S. airline companies spent most of their free flow cash over the past 10 years on share buybacks, propping up their quarterly earnings-per-share results (Stock Buybacks). That free flow cash is to be used in events such as September 11, 2001 (9/11) and other unforeseen events. It's nothing more than cooperate greed on the airline industries part. With the airplane space getting smaller (no room for passengers to sit comfortably), so they can pack more people on the plane, and customer service being so poor. I say … let them go out of business.

It also pisses me off … the Democrats putting the "abortion" language in the Bill. This is not the time and place to "sneak" something like this into the Bill. This topic is too controversial … the U.S. is facing a NATIONAL EMERGENCY and "they" add this to the Bill. Damn politicians! We need term limits for these idiots!

OK, I'm done. Thank you.
 
In east central Il you can buy a house for cheaper than you can rent.
Pretty much the same here. Thing is there giving out loans to people with very little down. That's recipe for disaster imo. The people that just bought our house put like 5% down on a 400k house. The thought of there payment makes me cringe with taxes they had to be well over 3k a month if that's not asking for trouble I dont know what is.
 
I have issue with the $50 Billon dollar bail out of the airline industry, again. Since the U.S. airline companies spent most of their free flow cash over the past 10 years on share buybacks, propping up their quarterly earnings-per-share results (Stock Buybacks). That free flow cash is to be used in events such as September 11, 2001 (9/11) and other unforeseen events. It's nothing more than cooperate greed on the airline industries part. With the airplane space getting smaller (no room for passengers to sit comfortably), so they can pack more people on the plane, and customer service being so poor. I say … let them go out of business.

It also pisses me off … the Democrats putting the "abortion" language in the Bill. This is not the time and place to "sneak" something like this into the Bill. This topic is too controversial … the U.S. is facing a NATIONAL EMERGENCY and "they" add this to the Bill. Damn politicians! We need term limits for these idiots!

OK, I'm done. Thank you.
I believe the Senate put the Kibosh on that Abortion funding bill, at least I hope they did.
 
Obviously these stimulus packages aren’t good for the long term in this country. Once the money is sent, it’s gone though. Find a good way to use it. If you’re sitting in a good place financially, a person can always give it to a family that could use it right now for food and essentials, or one could inject it back into the economy and help a small struggling business. Maybe not the best idea, but it’s a thought.
 
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Just think about all the people who are still working from home, getting paid like normal, and now will randomly get thousands of dollars in their mailbox. Just seems like a waste that its not more targeted towards the hardest hit folks.

I am in this privileged boat, and you are right. I think in the name of expediency they aren't gonna be too fine-toothed with their comb.

It is worth pointing out that a lot of people working from home won't have jobs in a month if things progress as they are. My wife and I also have a second gig - contracts to clean 3 buildings twice a week. We got the word yesterday that that has likely been axed as those businesses are now closed. Had scheduled a guy to be out here in 4 weeks to pour a shower pan and tile it. Now we are probably gonna cancel him as that was our home improvement fund. There's certainly a ripple effect.

I don't know. Andrew Yang ran on the concept of Universal Basic Income (UBI). It was interesting and in times like this would resolve a lot of heartache. Who pays for it though - is a legitimate question. Economics aside, if you step back and look at this as a basic resource allocation, there's people with plenty of money out there. The economy is already in the shitter, and calls to make the filthy rich less filthy rich but still filthy rich are coming. That would be my guess. I read an article the other day that said our deficit was to be well over a trillion this year. Extrapolated under a bunch of bailouts we could closer to 3...

I have a friend who owns a restaurant in a small town. I don't see his business surviving even if this ends next week, and it wont....

It is heartbreaking. Pardon the language on this article title, but it is relevant.

 
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