Rescue Plan Is Largely Another Shortsighted Bailout

First of all let me point out these photos of the day.


The first one are blue lines on the floor at Whole Foods telling people to keep their social distance from other customers. 


One person crossed the blue line and another customer promptly yelled at them that they were going to get them sick!


The second photo is limiting Nutter Butters (“Nut Butters”) to 4 per customer during this coronavirus–sh*t people are downing Nutter Butters like there truly is no tomorrow.  LOL


Finally, looking over the $2 trillion Coronavirus Rescue Plan, I see a lot of bailouts–about half through grants and half through loans.  


On the positive and largely necessary side are increases to unemployment insurance payments and aid to needy households (up to $150,000 for married couples is needy?) and to hospitals and transit.


In terms of the business loans, there are “forgivable” ones to small business, so not sure how that is a “loan.”


Overall though, it seems like we are throwing a lot of other money around that we as a country don’t have and will end up paying in terms of a higher national debt and higher interest payments for generations to come.  


This is another lost opportunity!


If we were already going to spend big money like this, why not pass the infrastructure spending bill to rebuild our aging roads, bridges, electric grid, aviation, public transit, and expand internet coverage.  This would actually put people back to work and build America again, rather than give corporate handouts that are shortsighted and with squat to show for it for the country’s ultimate benefit.


Everyone likes to get freebies, but eventually the country will come back to pay the piper, and there will be bread lines and not Nutter Butter. 😉


(Credit Photos: Minna Blumenthal)