[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Joe Biden announces “You Ain’t Black Enough” CRACKERS as fundraiser for his campaign

Jo Jorgensen Wins Libertarian Party Presidential Nomination

Pharmaceutical Industry is the Leading Cause of Death in U.S., and the Largest Criminal Group in the World

Cop Arrested for Terrorizing and Sexually Grooming Little Girl He Stalked on Minecraft

Biden: 'If you have a problem figuring out whether you're for me or Trump, then you ain't black'

“Back Of The Line!” Gretchen Whitmer’s Husband Gets Big Surprise When He Tries To Use His Unpopular Wife’s Name To Take Cuts In Front Of Other Customers Waiting To Have Boats Put In Water

The creaTion of funcTionally a separaTe judicial sysTem ... subservienT To The DemocraTs leaves noT much in The way of peaceful due process --- To resolve differences.

Joe Rogan Just Blew Up the Death Star

Undercover cops to enforce Ohio Covid Laws

‘I Am Very Serious About Them Losing Their Life’: Alabama Mayoral Candidate Calls for Public Hanging of Drug Dealers

Cop Tries to Force Man to Lick What He Thinks is Urine, Tasers Him After He Refuses

We’ve Got Way Too Many Trumps

Visa Files Patent Application for Digital Currency

Thanks Celebrities!

Brainwashing and the New Vocabulary: 12 Words and Phrases I Never Want to Hear Again

Illinois Lawmaker Floats Legislation to Give Governor Pritzker the Power to Confiscate Property Including Cars, Trucks, Food, Gas, Animals, Clothing, etc

NRA Shamefully Silent on Innocent Black Man Who Tried to Stop Cops from Murdering His Girlfriend

Cops Accuse Man of Carjacking His Own Car, Viciously Beat Him to Death

Cover Up: Fauci Approved Chloroquine, Hydroxychloroquine 15 Years Ago to Cure Coronaviruses; “Nobody Needed to Die”

UNHINGED Michigan AG Jumps on CNN Outraged after President Trump Did Not Wear Mask at Ford Plant — Says He’s Not Welcome Here — THREATENS CHARGES AGAINST FORD!

Hyperloop study: Pittsburgh to Chicago in 56 minutes for $93 is feasible

Facebook and YouTube are rushing to delete “Plandemic,” a conspiracy-laden video

Reopen... and Reject

AGW Threatens to Throw “Civilian” Off Bridge

Operation Haircut Defense Fund — GoFundMe set up to Help Single Mothers Fined $1,000 each for cutting hair in Michigan under orders of Nazi Gov. Gretchen Whitmer

Thanks to AG Barr and Senator McConnell, Patriot Act Will Soon Be Much Stronger and More Invasive

Big Brother COVID-19 "Contact Tracing" Involves Clintons, Soros

Enough! (Stop Saying "We're All In This Together)

‘The American friends’:

Covid Nazi: Costco turning tyrannical

New Jersey father’s outrage after a homeowner called the POLICE on him for taking his two children to an empty park to play

Another Reason Why This ‘Pandemic’ Is Looking More Like A Social Engineering Experiment

DEVELOPING: Declassified Rice email documenting WH meeting 1/5/2017 obtained @CBSNews

An audio recording of a conversation between Joe Biden and Petro Poroshenko on May 13, 2016 (Joe busted)

The far right depends on peddling snake oil. That's why Trump taking hydroxychloroquine is no surprise

UFOs Invading Military Airspace Multiple Times Per Month, but Public Won't Be Told More

Psychotherapist: Lockdown Zealots Are Behaving Like Cult Members

Cancer from Radiation Widespread Among 9/11 Responders

Alan Dershowitz, an Associate of Jeffrey Epstein, “You Have No Right NOT to be Vaccinated”

The Coronavirus ‘Dark Winter’ PSYOP: Question Everything and Do Not Comply With Any Government Order

America’s Totalitarian Ruling Class and Its Willing Slaves

Another COVID Small Business Casualty: The American Christian Church

The 10 Worst States in The U.S.

W.H.O. Says Coronavirus ‘May Never Go Away’ and the Public Must Accept Lockdown as New Normal

10 Ways a Roadside Police Stop Can Go Wrong

Police hang “closed” sign on gym door. Owner replaces it with the Bill of Rights and opens up shop.

Oregon Gov Pulls Out All the Stops to Destroy Mother Who Reopened Her Salon

Profiles in Tyranny: Barbara Ferrer, Los Angeles County Director of Public Health

Video Surfaces of Joe Scarborough Joking About Having Affair With Intern and Having to Kill Her

Nice Try: Governor Cuomo Says “Nobody Should Be Prosecuted” for Sticking Sick Coronavirus Patients into New York Nursing Homes


Status: Not Logged In; Sign In

United States News
See other United States News Articles

Title: Massive $6 Trillion Coronavirus Stimulus Package a ‘Robbery in Progress’ Critics Warn
Source: Common Dreams
URL Source: https://www.commondreams.org/news/2 ... -robbery-progress-warn-critics
Published: Mar 25, 2020
Author: Jake Johnson
Post Date: 2020-03-26 06:50:22 by Deckard
Keywords: None
Views: 50

As details of the Senate’s coronavirus stimulus plan slowly trickled in Wednesday, progressive critics characterized the sprawling legislative package as a brazen attempt by both political parties to use trillions of dollars in taxpayer money to bail out and further enrich large corporations while tossing mere crumbs to the most vulnerable.

“This is a robbery in progress,” wrote David Dayen, executive editor at The American Prospect. “And it’s not a bailout for the coronavirus. It’s a bailout for twelve years of corporate irresponsibility that made these companies so fragile that a few weeks of disruption would destroy them.”

“We can call it a bailout. But this is so big it is more like Congress is creating a new government for our economy, replacing our old government. And this one doesn’t have any meaningful democratic protections. A pandemic coup.”
—Zephyr Teachout, Fordham Law

While progressives applauded some provisions in the massive package—including the significant expansion of unemployment benefits and protections for airline workers—Dayen said the stimulus package as a whole is an “outrageous betrayal” of the U.S. public and “a rubber-stamp on an unequal system that has brought terrible hardship to the majority of America.”

“The people get a [one-time] $1,200 means-tested payment and a little wage insurance for four months,” Dayen wrote. “Corporations get a transformative amount of play money to sustain their system and wipe out the competition.”

A Senate vote on the stimulus plan is expected as early as Wednesday afternoon, even though the full legislative text has not yet been released to the public.

The bill would establish a $500 billion fund designed to bail out large corporations hit hard by the coronavirus crisis. Around $75 billion of the program, which would be controlled by the Trump Treasury Department, is earmarked for the airline industry.

But, Dayen wrote, the “enormity of this bailout is being under-reported.”

“The other $425 [billion] helps capitalize a $4.25 trillion, with a T, leveraged lending facility at the Federal Reserve,” Dayen said. “So it’s not a $2 trillion bill, it’s closer to $6 trillion, and $4.3 trillion of it comes in the form of a bazooka aimed at CEOs and shareholders, with almost no conditions attached.”

The Washington Post reported Wednesday that the stimulus package also includes a little-noticed $17 billion federal loan program that was inserted largely for the benefit of aerospace giant Boeing.

Dayen appeared on HillTV‘s “The Rising” Wednesday morning to discuss his thoughts on the Senate bill:

While Democratic leaders publicly celebrated the bipartisan deal—with Senate Minority Leader Chuck Schumer (D-N.Y.) calling it “a very good bill“—Democratic aides privately expressed outrage at the legislation’s massive handouts to corporations and relatively paltry benefits for workers.

“Temporary survival money for workers, trillions in permanent economic inequality saving a bunch of executives and elites,” one House Democratic aide told the Prospect.

Zephyr Teachout, a professor at the Fordham University School of Law and an anti-corruption expert, tweeted Wednesday that “it is super hard to speak up against this because of the big great things in the bill.”

“But it is irresponsible not to,” Teachout said. “We are talking about something so huge and radical and lacking in oversight that we cannot cheer it on. Truly outrageous.”

If the Senate passes the stimulus package Wednesday, House Speaker Nancy Pelosi (D-Calif.) is expected to try to pass the legislation by unanimous consent given that most House lawmakers are out of town and not eager to return to Capitol Hill amid the coronavirus outbreak.

If just one House member objects, the Post reported that “the most likely scenario would be a day-long vote where members would be encouraged to spread out their trips to the floor and not congregate as the vote is taken.”

Rep. Alexandria Ocasio-Cortez (D-N.Y.) voiced concerns about the Senate legislation in an interview Tuesday night with MSNBC‘s Chris Hayes.

“If we do not get this right,” said Ocasio-Cortez, “we risk small businesses across the country shutting down, and big businesses experiencing a total pay day with lack of accountability, further consolidating our economy. And that will create a generational issue.”

“We really need to make sure that we get this right to prevent the worst possible outcome,” Ocasio-Cortez added.

Post Comment   Private Reply   Ignore Thread  


[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Please report web page problems, questions and comments to webmaster@libertysflame.com