American Economics Thread
- Thread starter Bernard
- Start date
Hey, servicemen has mortgages too. The minute USD goes belly up, so will the military. Shit, defense spending is literally the largest line item on the discretionary budget.
antiterror13
Brigadier
I thought Pension was the largest item in the budget
Ignoring what's mandatory and what's discretionary at the moment, here's what congressional budget office statistics say for 2020 budget:
1450 billion - health care programs
1090 billion social security (pensions)
1052 income security (covid unemployment compensation, recovery rebates, unemployment etc)
714 defense
526 paycheck protection program
178 discretionary health care funds
149 coronavirus relief fund
118 student loan programs
117 transportation
109 federal civilian retirement
107 education and employment training
62 federal military retirement
122 veteran's program (mandatory)
97 veterans benefits and services (discretionary)
83 community and regional development
79 income security (discretionary)
64 administration of justice
60 international affairs
184 other stuff mandatory
129 other stuff discretionary
Of what I see related to covid, there's 341 billion in uneployment compensation covid fund, 149 billion in covid relief fund and I am suspecting that a large chunk of the 275 billion recovery rebates fund is also covid related. So all those together might be somewhat extraordinary. Other items on the list are more or less standard for any given year.
1450 billion - health care programs
1090 billion social security (pensions)
1052 income security (covid unemployment compensation, recovery rebates, unemployment etc)
714 defense
526 paycheck protection program
178 discretionary health care funds
149 coronavirus relief fund
118 student loan programs
117 transportation
109 federal civilian retirement
107 education and employment training
62 federal military retirement
122 veteran's program (mandatory)
97 veterans benefits and services (discretionary)
83 community and regional development
79 income security (discretionary)
64 administration of justice
60 international affairs
184 other stuff mandatory
129 other stuff discretionary
Of what I see related to covid, there's 341 billion in uneployment compensation covid fund, 149 billion in covid relief fund and I am suspecting that a large chunk of the 275 billion recovery rebates fund is also covid related. So all those together might be somewhat extraordinary. Other items on the list are more or less standard for any given year.
Gold is down $80 bucks today. Attached is a chart of the GLD.
After Yellen or someone said yesterday that rates may increase sooner, that means what inflation is coming, is going to be resisted immediately.
They said they'll increase by 2023. Stalling tactic.
"The Facilitating American-Built Semiconductors Act introduced this week includes a proposed a 25-percent tax credit for investments in chip fabs and equipment. Those tax breaks also include the manufacture of tooling required to make chips.
...
Industry groups also stress the need for investment incentives as the price tag for bleeding-edge fabs manufacturing advanced logic chips approaches $30 billion.
...
“Our bill would provide a significant investment tax credit to companies that build chips here at home, rather than overseas,” Wyden said in introducing the legislation. “The United States can’t allow foreign governments to continue to lure companies’ manufacturing overseas, increasing risks to our economy and costing American workers good-paying jobs.""
Looks
Yellen is running out of options. But then again, by continuing the same policies of her predecessor by doing QE infinity, this is going to absolutely kill the USA economy and even if they try to get a digital currency in, this will be far too late since everyone knows that a) the USA can never pay its debts and b) they want to continue this broken system forever, for which this world will eventually decide that providing goods for toilet paper or even digits on a screen coming from America to satisfy the fat and lazy is an absolute no. In the end Yellen is basically on borrowed time which every option is going to lead to hell and only hell
I think Bernie Sanders said that these companies already swimming in financial profit. Extra tax break will just be funneled into stock buy back.
PeoplesPoster
Junior Member
The 526 paycheck protection program should also be largely COVID related.