Here we go--From today's news conference/update; this is exactly one major thing I have been concerned about:
Quote:Trump said he expects the stimulus to come in “phases,” so that if the initial checks don’t fuel the economy, the government will “keep doing it,” referring to continuing to administer stimulus checks to Americans.
“We’re also talking about doing phases if this doesn’t work,” he said. “Once we get the economy back − and the invisible enemy is defeated − it’ll all come back to us rather quickly.”
Here's where President Trump diverges from being a true conservative. Spending like a Democrat on things that don't actually solve the problem, and arguably weaken things. Bernie and Biden should be proud, except Trump in this area is doing what they would do first...
I believe this to be irresponsible government overreach, at a time when the nation is in so much additional debt, mainly caused by the last administration and president who doubled the nation's lifetime national debt (not just the annual deficit, which was bad enough), leaving our country in a much weaker situation for this president. Despite the strong economy, there was seemingly little talk or real effort to pay down our national debt to something reasonable, or preferably to zero, so our country would be stronger, and better able to handle random unforeseen shocks like this that inevitably come.
Now, we have many Republicans and the president joining the far-left to spend like socialists on literal handouts that are stated to be open-ended and repeatable. In WWII, when the government opened the spigots of spending after FDR ruined the economy by his harmful and misguided overspending and government programs that extended that recession into a Great depression that lasted far longer than it should, at least the government got back many items of value for its spending, while important goods were mostly willingly rationed by those on the home-front: planes were built, tanks, cars, trucks and much infrastructure--people went to work in factories and offices building and helping things get done. Few stayed home.
Also, and importantly, to help fund this spending, the government sold War Bonds, so that Americans rich and poorer could help directly provide the funding for the war effort. Our leadership would do well to remember that finding a way to get value for what it is about to add to the national debt is an important and seemingly largely missing component of the action it is taking, and there should also be an investment opportunity a la war bonds for all that seems to be glaringly missing.
For those who may remember, it was during the Obama administrations shellacking of the economy and extending the misery cause by Democratic irresponsibility by insisting on loans being given to folks who had no business getting them based upon lack of ability to repay, and easing the supply of loans and debt to an extent that some people were being hounded to take on more debt. At the same time a "stimulus" check was given to most American citizens of $300 that did absolutely Nothing, Zero, Nada to actually stimulate the economy, and made the situation worse, not better. That money to date has still not been paid back, which might have helped a little to fund the present nonsense plan for more of the same. *Note: I was one of the few American citizens who stood up and did NOT take any stimulus, as I saw through that charade back then.
In President's defense, I am glad that unlike under the Obama fiasco, they seem to be putting some restrictions on the handouts.
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