U. S. discussed on The Community Connection

Automatic TRANSCRIPT

This two trillion dollar stimulus package is the largest relief package in U. S. history and to put that number in perspective this stimulus bill is bigger than the two thousand eight and nine bank bailout written in a two thousand nine recovery act that gave us some money in the two thousand eight bank bailout so look this inspires four trillion dollars in economic activity but in our listener Wayne I think his name was Wayne call little bit ago and asked about you know this is going to cause inflation lower not putting two point two trillion in the hands of US consumers just go spend money there's five hundred billion dollars incorporated I and I know that sounds like a corporate bailout but but look this should not be thought of as a stimulus bill all right this is a bill to get the economy running this is disaster insurance to benefit those most hard hit so the idea is to freeze time for a month or six weeks and let people come out of this with huge it without huge amounts of debt and not starving or not getting evicted a hopefully healthy and and this ideally gives us a recovery where people find themselves roughly where they were when they went in but it also gives aid to small business and corporate America so yeah yep that's the question is this two point two trillion dollar package a bailout well not this time around because again unlike the two thousand eight financial crisis the federal government propped up ill behaving U. S. banks and it was an attempt to prevent a total collapse of billions of dollars of taxpayer money that flowed to the financial system because back then again millions of people lost their jobs and their businesses the autumn or still trying to come to terms mostly millennials are trying to come to terms of the events of that time but even in general parlance the word bailout has a bad connotation this is not a bailout okay major corporations employ tens of thousands to hundreds of thousands of employees and then if extracts running our economy you know when you're seeing in the airline industry being literally almost shut down because we purposely shot the disrupted by the economy down for the purpose of flattening this covert curve well it's no fault of the airlines are they're not using this money for corporate the stock buybacks which would just benefit the shareholders they're using the money to keep people employed so that's a big piece of this all right so the so the big piece of the two point two trillion is corporate and then there's the the three hundred and sixty seven billion to support small business small business is the biggest taxpayer in this country and this county it's the biggest employer in this country in this county and it's also the least incentivize but small to midsize companies with five hundred employees or less get federally guaranteed loans that could convert to grants and that includes being able to pay your rent still and utilities so you got is the only loan requirements but at the end of the day it's going to help out small business there's there's another two hundred fifty billion in unemployment support right the additional six hundred dollars in weekly unemployment checks along with your state benefit that's part of the two point two trillion and then there's the one time checks that that you called about this morning how does one time checks are important for a couple of reasons because obviously one oh how much we're gonna get.

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