US Treasury seeks to borrow a record $3 trillion this quarter

[floridafan]

Massive stimulus to support the U.S. economy through the coronavirus crisis will cause the Treasury to borrow a record $3 trillion this quarter.

The department on Monday announced the total Monday.

“The increase in privately-held net marketable borrowing is primarily driven by the impact of the COVID-19 outbreak, including expenditures from new legislation to assist individuals and businesses, changes to tax receipts including the deferral of individual and business taxes from April – June until July, and an increase in the assumed end-ofJune Treasury cash balance,” the department said in a statement.

On top of that borrowing, Treasury also said it anticipates borrowing another $677 billion in the third quarter.

https://www.cnbc.com/2020/05/04/us-treasury-seeks-to-borrow-a-record-3-trillion-this-quarter.html

 

[Jack]

Republicans claim this is all about 'Free Enterprise' and 'Capitalism'. Yes, it might look like 'Big Government' but it's not.
Republicans believe in 'Small Government' and a 'hands off approach' when it comes to Business.

 

[Truth Detector]

Massive stimulus to support the U.S. economy through the coronavirus crisis will cause the Treasury to borrow a record $3 trillion this quarter.

The department on Monday announced the total Monday.

“The increase in privately-held net marketable borrowing is primarily driven by the impact of the COVID-19 outbreak, including expenditures from new legislation to assist individuals and businesses, changes to tax receipts including the deferral of individual and business taxes from April – June until July, and an increase in the assumed end-ofJune Treasury cash balance,” the department said in a statement.

On top of that borrowing, Treasury also said it anticipates borrowing another $677 billion in the third quarter.

https://www.cnbc.com/2020/05/04/us-treasury-seeks-to-borrow-a-record-3-trillion-this-quarter.html

This isn't a "stimulus" you uneducated willful idiot. This is a bailout to businesses that were FORCED to shut down by Government acts. This isn't about economics, this is about Fascism by a Government that thinks it is saving people by destroying others lives.

 

[Truth Detector]

Republicans claim this is all about 'Free Enterprise' and 'Capitalism'. Yes, it might look like 'Big Government' but it's not.
Republicans believe in 'Small Government' and a 'hands off approach' when it comes to Business.

This is BIG Government in action JackOFF. This has nothing to do with economics or capitalism. This is about a Fascistic Government overreach based on a hysteric driven narrative by the media in the belief this will take down a President.

 

[floridafan]

This isn't a "stimulus" you uneducated willful idiot. This is a bailout to businesses that were FORCED to shut down by Government acts. This isn't about economics, this is about Fascism by a Government that thinks it is saving people by destroying others lives.

You have whined and cried about the deficits under President Obama, yet is less than half the time, Trump will be about even with 8 years of Obama deficits.
You are a Fascist honey bunch, who else would be so well versed in Fascism.

 

[John Barron]

You have whined and cried about the deficits under President Obama, yet is less than half the time, Trump will be about even with 8 years of Obama deficits.
You are a Fascist honey bunch, who else would be so well versed in Fascism.

 

[Jack]

This is BIG Government in action JackOFF. This has nothing to do with economics or capitalism. This is about a Fascistic Government overreach based on a hysteric driven narrative by the media in the belief this will take down a President.

---><---

 

[Truth Detector]

View attachment 15204

Blaming this Government driven economic calamity caused by hysterics over a virus on Trump is the pinnacle of stupidity. But then, you moons on the left have no self awareness or brains.

 

[Truth Detector]

---><---

Good; you should laugh at yourself; you look like a clown.

 

[Jack]

This is Trump Government in action JackOFF. This has everything to do with economics and capitalism. This is about a Fascistic Government overreach based on a Trump Virus narrative by the media in the belief this will take down a President.

---><---

 

[Tacomaman]

---><---

I'm telling you guys Mr. Detector is a ticking time bomb.

 

[Jack]

I'm telling you guys Mr. Detector is a ticking time bomb.

Hopefully, they have him on the Watch List.

 

[ThatOwlWoman]

Massive stimulus to support the U.S. economy through the coronavirus crisis will cause the Treasury to borrow a record $3 trillion this quarter.

The department on Monday announced the total Monday.

“The increase in privately-held net marketable borrowing is primarily driven by the impact of the COVID-19 outbreak, including expenditures from new legislation to assist individuals and businesses, changes to tax receipts including the deferral of individual and business taxes from April – June until July, and an increase in the assumed end-ofJune Treasury cash balance,” the department said in a statement.

On top of that borrowing, Treasury also said it anticipates borrowing another $677 billion in the third quarter.

https://www.cnbc.com/2020/05/04/us-treasury-seeks-to-borrow-a-record-3-trillion-this-quarter.html

Borrow it from who though? China? What are we gonna do when *they* can't afford to lend to anyone?

 

[Mason Michaels]

Republicans claim this is all about 'Free Enterprise' and 'Capitalism'. Yes, it might look like 'Big Government' but it's not.
Republicans believe in 'Small Government' and a 'hands off approach' when it comes to Business.

That's not really true anymore

 

[Mason Michaels]

Borrow it from who though? China? What are we gonna do when *they* can't afford to lend to anyone?

Write rubber checks

 

[Tacomaman]

Borrow it from who though? China? What are we gonna do when *they* can't afford to lend to anyone?

tRump is going to publicly chastise China, then privately beg for money.

 

[jimmymccready]

Trump is a socialist, and he will go to China for more cash.

 

[anonymoose]

Borrow it from who though?

Good question. I don't really understand where all this free money is coming from. I recently read an article in the latest Economist that Industrialized 1st world countries (who are all doing exactly what we're doing) are basically borrowing from themselves and lending it to themselves which makes absolutely zero sense to me. If I needed money I'd either have to spend my savings or borrow it from another party (a bank).
Back in the old days on the old Bill Maher board we had a guy who had a master's in Economics and taught it on a university level who was really, really good at explaining this type of stuff.
All we have here is a bunch of partisan hacks who blame everything that's not good on Trump or *pick a dim*.
Maybe I'll try and find some obscure Economics forum and get a real answer. But I know I won't get one here.

 

[Jack]

Good question. I don't really understand where all this free money is coming from. I recently read an article in the latest Economist that Industrialized 1st world countries (who are all doing exactly what we're doing) are basically borrowing from themselves and lending it to themselves which makes absolutely zero sense to me. If I needed money I'd either have to spend my savings or borrow it from another party (a bank).
Back in the old days on the old Bill Maher board we had a guy who had a master's in Economics and taught it on a university level who was really, really good at explaining this type of stuff.
All we have here is a bunch of partisan hacks who blame everything that's not good on Trump or *pick a dim*.
Maybe I'll try and find some obscure Economics forum and get a real answer. But I know I won't get one here.

Dude. If you had a Printing Press in your Garage that could print Hundred Dollar Bills, would you REALLY be worried about 'borrowing' money?

"The Bureau of Engraving and Printing is a government agency within the United States Department of the Treasury that designs and produces a variety of security products for the United States government, most notable of which is Federal Reserve Notes for the Federal Reserve, the nation's central bank.Wikipedia"

 

[anonymoose]

Dude. If you had a Printing Press in your Garage that could print Hundred Dollar Bills, would you REALLY be worried about 'borrowing' money?

"The Bureau of Engraving and Printing is a government agency within the United States Department of the Treasury that designs and produces a variety of security products for the United States government, most notable of which is Federal Reserve Notes for the Federal Reserve, the nation's central bank.Wikipedia"

Yeah I found an article in bbc.com/business that tried to explain it and basically what it comes down to is that all the wealthy countries are printing money. Which of course will be worthless down the road.
It's what got Argentina in trouble, now they have hyperinflation.
The good news is that this is nothing compared to WW II and eventually the world got thru it.