It was nice of Pelosi and Schumer to back off on the disgusting lard they were throwing into the Covid-19 Save the Nation’s Economy (StNE) bill but trying to pork up the StNE bill says a lot about them and the D’crat Party. It takes me back to Rahm Emanuel’s famous comment: “Never let a crisis go to waste!”.
The cost comes out to $14,000+/- per US person, but much of it is going to be in the form of business loans to airline, travel, restaurants, cruise lines, etc., much like the G.W. Bush The Emergency Economic Stabilization Act of 2008 a/k/a Bank Bailout was, and over time those funds were repaid, with the interest and/or dividends covering the limited defaults of certain loans.
The other nice thing about it is the loan portion doesn’t add to the deficit.
In his news conference, Trump didn’t suggest people going back to work at the end of the 15-day National Emergency, but when he discussed Easter being the end of the major emergency period in most of the US, he did discuss some areas and industries returning to work before Easter. In addition, he didn’t discuss officially extending the current 15-day National Emergency.
Philip A. Erickson, CPA
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