Republican deficit peacocks emerge to block COVID-19 aid to Americans after taxpayers bail out corporations once again
The House will release the bill for the fourth tranche of coronavirus stimulus Monday night or Tuesday morning, according to Politico's Playbook for Monday. Recognizing that corporations have gotten their bailout, the House intends to make this one all about the people: "Direct payments, unemployment insurance, rental and mortgage help and student loan assistance are essential," House Speaker Nancy Pelosi wrote in a letter to her conference Sunday.
To which the Republican death cult screams "deficit" and "cut Social Security," because of course they do. "We've got to figure out now how we're going to pay for it," Florida Republican Sen. Rick Scott told Bloomberg's Steven Dennis. Otherwise, "we're going to ruin this economy." Millions of newly homeless, starving people is apparently not bad for the economy, but helping them is—if you're a Republican. Like Texas Sen. John Cornyn, who tweeted the House is "is not officially coming back yet. They are waiting for the release of a new coronavirus bill, which will cost trillions of dollars. Neither this bill nor anything resembling it will ever become law—it's a Democratic wish list filled up with all the party's favored policies."
When the Senate was penning the CARES Act with its $500 billion corporate bailout and the $300+ billion "small business" loan program, no Republican was asking "how do we pay for it." That those measures did little to actually boost the economy or stop 33.5 million people from being unemployed simply doesn't matter. That the economic and health crisis is getting worse by the day doesn't matter. Republicans see no problem in waiting weeks and weeks before doing anything more. Senate Majority Leader Mitch McConnell has said he wants to hit the "pause button" on spending anything more to see how the money already spent plays out. All while the infection rate and the unemployment rate are in a race to see which can rise highest the fastest.
Democrats have Federal Reserve Chairman Jerome Powell on their side. "This is not the time to act on those [debt] concerns." In Pelosi's letter, she said Powell "has told us to 'Think Big' because interest rates are so low. We must 'Think Big' For The People now, because if we don't, it will cost more later. Not acting is the most expensive course."