Stimulus Package

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The Riddle Report 12 21 2020

It looks like a new stimulus package worth almost 1 trillion dollars is going to be passed sometime today. As a matter of principal, I am wary of stimulus packages. Particularly, those packages which Democratic hands have touched. Historically speaking, such spending is a short-term bonanza and a long-term disaster. I am afraid this may fall in the same category.

On the other hand, it is hard to argue against the necessity for help. While the economy is rebounding in a V shape, it is not happening as fast as hoped. At least part of this is fear generated by the press. Instead of making judgements based on facts the people are believing the fear mongering of the press, staying home, and only shopping for necessities. This results in a need for a stimulus shot.

One of the more interesting aspects of the package is the similarity to the Republican proposals earlier in the year. From what I have seen, the only concession by Conservatives was the desire to protect businesses. But the Democrats conceded more. The big one, in my opinion, was that they were forced to drop the bail-out of Democratic states and cities which were guilty of mismanagement.

Another part of the bill provides weekly unemployment benefits for up to 11 weeks. Having experienced unemployment myself many years ago, I know how vital that can be. But I believe having an end-time for these additional benefits is also important. In recent unemployment benefits the benefit was actually greater than wages being offered. Most people are prepared to work, but it puts undue pressure on them to be paid more for being idle than for working.

In addition, the bill provides relief for the airline industry, which is much needed. Then there is relief for small businesses, vaccine distribution, and more. These are all needed and their troubles are not related to mismanagement but to Covid-19.

All of that and more makes me think this package is good and needed. But even as they are voting on this package, they are already talking about another one bigger and wider! This, in my opinion, would be disastrous. The current package plus the previous packages all must be paid down, and work should begin on that immediately.

Whether President Trump wins reelection or Biden/Harris win, this latest package needs time to work. Get that money into our economy and then watch to see what happens. Right now our economy is slowly rebounding because of strong underpinnings. Assuming that Trump is reelected which evidence points to, then the underpinnings remain, and the economy takes off. But if Biden/Harris prevail those underpinnings could disappear rather quickly, and new help will be needed.

It is sad to watch anyone, Democrat or Republican, use much needed legislation as a bargaining point. How many people have suffered due to the Democrats wanting their agenda? Too many! But now they have gotten serious and dropped the worst pieces and so we can thank God for this help. But they could have agreed to this same package last summer.

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R Frederick Riddle is the Editor of TR Writing Services providing help to struggling and/or new authors to write and publish their books. He is also an author of Historical, Speculative, and Mystery fiction, plus co-founder and Vice President of T&R Independent Books. To reply to any blog you can comment on a blog and/or send an email to marketing@tr-indbkstore.com. His Facebook page is at RFrederickRiddlesWorld.

Monday News & Comments 08 31 20

Today’s Issue: FEMA

Welcome to Monday News & Comments.

Earlier on August 8th President Trump signed an order authorizing FEMA (Federal Emergency Management Agency), which was founded in 1979, to payout $300 per week to qualified unemployed workers. This is a result of the Democratic held House’s refusal to pass legislation that would have helped millions of unemployed voters. In following through on President Trump’s order FEMA has issued a press release. Here is an excerpt:

WASHINGTON — FEMA Administrator Pete Gaynor approved Florida for a FEMA grant under the Lost Wages Assistance program. FEMA’s grant funding will allow Florida to provide $300 per week — on top of their regular unemployment benefit — to those unemployed due to COVID-19. FEMA will work with Florida Governor Ron DeSantis to implement a system to make this funding available to Florida residents.

This is good news for the unemployed here in America. Speaking as a man who was laid off through no fault of his own when I was much younger man, I know what it is like to be unemployed. Yes, you get unemployment benefits, but they don’t really replace what you were making. So, $300 more per week means a lot to someone trying to survive.

When I went on unemployment, I had $2000 in my bank account. I thought I was in fine shape and figured it would only be for a short time, but by the time I got another job it was all gone. I was a single man back then but consider how devastating losing your income is for families.

It is interesting to note that Nancy Pelosi and the press emphasize this as only temporary relief and therefore not worthy to consider. Again, speaking as one who was unemployed for a time temporary relief is far better than no relief at all. In my case I was able to find a new job within the time frame I was unemployed. But my bank account was wiped out by that time.

Many people who are unemployed want to work, even eager to work, and this extra money will buy them some time to find work. I’m not talking about fast food jobs such as President Obama offered, but real jobs. The Liberals in and out of government want permanent relief which robs a person of self-esteem. Inevitably such programs fail because the individual involved literally loses the desire to work and stagnates. And the impact of this takes people out of the workforce.

I know this increase in unemployment benefits will add to our deficit, but sometimes it is necessary. Once this pandemic is over, the economy will take off and repayment of the deficit will begin. In fact, it is already apparent that the economy is coming alive once again. Unemployment has begun declining and jobs are rising, slowly but ongoing.

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R Frederick Riddle, Editor of TR Writing Services, provides help struggling and/or new authors to write and publish their books. He also authors Historical, Speculative, and Mystery fiction, plus he is co-founder and Vice President of T&R Independent Books. To reply to any blog you can comment on a blog and/or send an email to marketing@tr-indbkstore.com. His Facebook page is at RFrederickRiddlesWorld.