House sends infrastructure bill to senate, trillions trillions and trillions waiting to be approved

S2007S said:
remember we have an economy that can't stand on its own so the only way to create gdp is to pass trillion dollar stimulus packages...

House sends $1.5 trillion-plus infrastructure bill to reluctant Senate
Published: July 1, 2020 at 5:29 p.m. ET



https://www.marketwatch.com/story/h...structure-bill-to-reluctant-senate-2020-07-01
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Is this going to be like Odumbo's "$800B shovel-ready jobs stimulus for infrastructure to put people back to work"... when the proceeds actually went to union pension plans that supported DemoCraps??
 
S2007S said:
$1.5 trillion of monopoly money
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Not exactly.

To the government, may be Monopoly money... but ultimately it ends up being reflected in decreased buying power of $USD through inflation and/or currency devaluation. IOW... WE THE PEOPLE end up paying for it one way or another! That is.. the government is spending the people's (our) money (buying power) without our consent!! Stated another way... could be called STEALING*!!

:(

* Not only do they "tax the crap out of us" throughout our lives... they steal even more covertly through inflation and currency debasement!!
 
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Here4money said:
gop or dem backed? This will determine chance of success.
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It’s the House so it’s a Dem bill but remember Trump has been pushing for an infrastructure bill since 2017.

The R’s wouldn’t give him one in his first two years.

I would guess the Senate will make changes but it will pass.
 
clacy said:
It’s the House so it’s a Dem bill but remember Trump has been pushing for an infrastructure bill since 2017.

The R’s wouldn’t give him one in his first two years.

I would guess the Senate will make changes but it will pass.
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Their best bet is to raise hell about any poison pills in it and pass it w/enough votes to not block a veto. Even then, Trump won't pass the opportunity for free money to his precious DOW I don't think
 
Scataphagos said:
Not exactly.

To the government, may be Monopoly money... but ultimately it ends up being reflected in decreased buying power of $USD through inflation and/or currency devaluation. IOW... WE THE PEOPLE end up paying for it one way or another! That is.. the government is spending the people's (our) money (buying power) without our consent!! Stated another way... could be called STEALING*!!

:(

* Not only do they "tax the crap out of us" throughout our lives... they steal even more covertly through inflation and currency debasement!!
More...

This is not true. That'd be like saying a car stole your life because you cross the road without looking. Just hedge against inflation like everyone else.

What they are doing is making the economy less efficient as labor is diverted to projects without strong capital justification. Productivity will certainly be harmed by this, which means a deceleration in improvements to living standards.

We can only pray that some of the infra pays off in decades to come.
 
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