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Thread: President Trump signs COVID relief, government funding bill

  1. #11
    Quote Originally Posted by njtom View Post
    With the federal deficit for fiscal year 2020 having come in at 3.1 trillion dollars, I don't think it makes sense to give everyone who makes less than 75,000 (and married couples less than 150,000) either a $600 check or a $2000 check. The relief should be focused on the businesses and workers who lost income due to the pandemic (or to the rules adopted to deal with the pandemic).

    I guess Dick Cheney was right: Deficits really don't matter.
    Deficits do matter but not all deficits are created equal.

    From a monetary standpoint yes this does devalue money hence its a hidden tax no argument there.

    But from a fiscal standpoint One off payments of the nature you describe eventually come back to the federal government in the form of tax revenues by the time they change hands multiple times so no big issue there.

    The real fiscal deficit issues are with those programs that require permanent ever growing bureaucracies to oversee . These require never ending monetary devaluation and never quite pay for themselves from a fiscal standpoint .

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    FireBrand (12-29-2020)

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