Why not now?

https://thehill.com/policy/finance/486730-trump-gop-scramble-to-keep-economy-from-derailing

OK. I get it. The parties involved don’t like each other very much. They disagree on most everything. BUT, is this not the time for the WH, GOP AND Democratic leaders to sit down and come up with the best way forward to protect the economy and, more importantly, the citizens of this country?

This situation is the time for bipartisanship and I call on our leaders to sit down and work this out together and not have one side or the other force something down our throats that does little to help the people and only protects political power.

Maybe I’m sounding naive, but seriously?

35 thoughts on “Why not now?

  1. @Adam

    In theory, that sounds great. But Obama, even before he became President, worked hard and cooperatively to clean up the mess that the Republicans had created. Look what that got him.

    The economic disaster that may develop is just more evidence of GOP fiscal mismanagement. They have ALREADY fired the government’s best bullets when they foolishly cut taxes at a time of prosperity and full employment.

    Is it in the long term best interests of the people of this country for the Democrats to continually help the GOP paper over their mistakes?

    Liked by 1 person

    1. I agree. But I am not looking for papering over of anything. I am looking for our government to become functioning again. This would be an opportune time for that to happen.

      And in reality, when both sides can claim victory, it is in all of our best interests, isn’t it? Like I said, maybe I am being overly naive on this.

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    1. Well, you asked why, now you know.

      Hurting Trump’s election chances are more important than the lives of millions of older adults, besides they probably vote Republican anyway.

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      1. Then why was the government response so poor if , as I pointed out elsewhere, the most adverse effect would be to Trump voters.

        Don’t try and blame the Dens for calling out the initial incompetence of the Trump response.

        Liked by 1 person

        1. There was no initial incompetence. There were some problems with the early test kits, but it’s not like Trump assembles those himself.

          What specifically do you should have been done. knowing what was known at the time?

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          1. Kind of like the Obamacare rollout? Puh-lease. Trump is clueless and didn’t listen to the experts and FIRED the response team that was IN PLACE to handle this exact situation. Not planning for this kind of pandemic, or at least having a team in place to response is gross misconduct and mismanagement. Especially when they have been occurring with some sort of frequency seen lately.

            Liked by 1 person

          2. Simply not true.

            The Pandemic Response Team was assembled from existing Federal employees in response to the Ebola outbreak. It’s purpose moot, its mandate expired and, with the exception of the head of the team, went back to other assignments.

            They were not fired and are still available. The Trump administration is handling the response across several parts of the Executive Branch rather than through Homeland Security as the Pandemic Response Team was organized.

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          3. If that team had remained in place, the response probably would have rolled out a lot smoother. trump could have been seen as a hero and we would STILL be facing the pandemic (as called today by the WHO). But the response here would have been much smoother.

            The only reason Trupp disbanded the response team was because Obama put it in place. The eraser-in-chief strikes again. And again. And again.

            Liked by 1 person

          4. Nope, it’s authorization for dealing with the EBOLA outbreak had expired.

            The better question is why Obama thought a disease response was better handled by Homeland Security than by the Dept of Health.

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          5. @Tabor

            “The better question . . .”

            Always find a nonsensical attack on Obama. OMG! Why oh why was the Pandemic team not in the Department of Health. Laughable and sad at the same time.

            As a matter of fact, the pandemic defense group that Trump disbanded was part of the National Security Council staff and not part of Homeland Security as if it make ANY difference. And, yes, the Ebola threat showed the need for a top level group to coordinate various government agencies to respond to a pandemic threat. That DOES not mean that once the defense against Ebola was successfully concluded that there was no more need for such a group.

            You ask what Trump should have done differently? The answer is clear. He should have been honest from the start. Many observers have written in this vein . . .

            https://www.politico.com/news/2020/03/07/trump-coronavirus-management-style-123465

            Liked by 1 person

  2. RE: “Maybe I’m sounding naive, but seriously?”

    I don’t think you are sounding naive, but a good place to start thinking about this issue is to ask, What can or should the federal government do about the economy?

    My own answer is that the federal government can’t do much and shouldn’t try. Still, some possibilities come to mind:

    • A collapse of financial markets might be a useful opportunity for repudiating the federal debt and ending the Federal Reserve.
    • We might look at national industrial policy to find ways to make the U.S. more self-sufficient in manufacturing essential goods such as food, clothing, shelter, energy, medical supplies and strategic materials.

    • There are a number of engineering projects we could undertake as investments in our future. My hobby horse in this category is space-based solar power generation, but more mundane opportunities exist in abundance.

    The U.S. economy is incredibly robust and dynamic. I expect it won’t need much help in recovering from the current downturn, even if trends deepen. Should the impulse to do something prove overwhelming, it would be best to pick something practical to do.

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    1. So based on what you are saying, is trump’s call for a withholding cut and for the Fed to lower interest rates again are bad ideas?

      As far as letting the Central bank go by the wayside, I disagree. And I’m not sure how you can repudiate the debt. If the money has been borrowed (and it has) you can’t just wipe it away completely.

      Growing our industrial base would be fine if wages to support families didn’t need to be so high. I get the jist of your Libertarian ideas. I just don’t agree with them.

      As far as practicality goes, I read in a couple of posts @ The Hill that infrastructure investments would be a good way to help. Not sure if that is a good thing or not.

      I agree our economy will survive the virus. The oil war between Russia and the Saudi’s is gonna be a little bit harder to deal with. Our oil companies here in the states are going to suffer either through the price cut or cutting production. That might be a better place for the government to step in. -IMHO

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      1. RE: “So based on what you are saying, is trump’s call for a withholding cut and for the Fed to lower interest rates again are bad ideas?”

        Not necessarily. My list of three possibilities is not meant to be exclusive.

        RE: “And I’m not sure how you can repudiate the debt.”

        Theoretically, it is not particularly hard to do in the sense that money is just math. The basic principle to exploit is that debt cancellation only affects future income to lenders from current loans.

        RE: “Growing our industrial base would be fine if wages to support families didn’t need to be so high.”

        Is that a reason to do nothing?

        RE: “Our oil companies here in the states are going to suffer either through the price cut or cutting production.”

        I don’t see how that’s important, or why the government should do anything about it.

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        1. You didn’t refute or defend the move. I asked if you thought his proposed cut was a bad idea or not. If you didn’t want to answer the question, I understand.

          I’m sure the workers at the oil companies, not to mention the stock holders, appreciate your ambivalence towards their well being.

          Repudiating the debt would probably cause more of a financial crisis than the current virus situation.

          The primary reason manufacturing jobs moved overseas was because of the high cost of wages required to hire those workers.

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    2. “ A collapse of financial markets might be a useful opportunity for repudiating the federal debt and ending the Federal Reserve.”

      Any thought for people whose paychecks and savings are gone when all this economic theory plays out?

      It is generally accepted that humans need a relatively steady supply of food and shelter every day.

      Liked by 3 people

      1. RE: “Any thought for people whose paychecks and savings are gone when all this economic theory plays out?”

        How would repudiating the debt or ending the Fed affect paychecks and savings?

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        1. “ A collapse of financial markets…” was your lead in.

          That is what was happening in 2008, but was turned around before we sank the world into a repeat f 1929.

          Repudiating the debt would be very troubling. Particularly with our new found deficit of a trillion a year. Military money, SS, etc would be gone so nail a new start. But where does the money come from for the new start?

          Businesses would have little operating capital if the banks are gone. No payroll, no supplies, etc.

          Now it may be just a few months or a few years. But, like I said, daily living might be more like bread lines and tents.

          And self sufficiency? Why? The global market is not going away because we say so. It is not to anyone’s advantage to lock out the rest of the world.

          Liked by 1 person

        2. RE: “That is what was happening in 2008, but was turned around before we sank the world into a repeat f 1929.”

          Why do you assume the financial collapse of 2008 was turned around? To my way of thinking, none of the underlying causes were ever addressed and we are just now experiencing an aftershock of that same event.

          It is ironic that a public health emergency is the proximate cause of the current disruptions when you consider that health insurance was originally conceived as a means to (literally) ensure the provision of health care infrastructure in times of general need.

          In 2008 it was a housing bubble. Today it is a medical bubble. But they are the same in that too many people tried to buy too much for too little.

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  3. I wouldn’t expect too much bipartisanship. Election years are perennial blame games.

    Recall the outlandish attacks on Democrats during the 2011 election. Rush Limbaugh saying, with emphasis, that Schumer purposefully caused bank failures (IndyBank, I believe) to ensure an Obama victory in 2008.

    “ Schumer did this, as you’ll recall, when he caused a run on the IndyMac Bank in California, and thereby started a panic that probably started the financial collapse that led to the Great Recession. [Premiere Radio Networks, The Rush Limbaugh Show, 10/4/11]”

    Or Kudlow saying housing prices were not inflated in 2008. At least Bush tried some semblance of leadership rather than blaming everyone else.

    The GOP was panicking then and there defense was a butt load of conspiracies.

    Well, we are hearing the same crap today.

    It seems Democrats are always having to clean up after the elephants.

    I think more Americans are starting to realize that Trump can’t handle a crisis.

    Liked by 2 people

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