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by anonsubmit2671 2271 days ago
$23.6 trillion plus whatever else this situation will cost. I would guess $5-7 trillion more, at a minimum, because it will cost $1.2 trillion a month for shelter-in-place UBI.. and then however much of many trillions in loans go into default or are forgiven.

https://usdebtclock.org
1 comments
paulmd 2271 days ago
No, the direct UBI payments are $300b.

Some additional spending on unemployment insurance, SNAP, and some other programs that are going to be hit harder with millions of people out of work overnight. But overall, there is actually more spending directed towards businesses here than towards individuals ($775b for business vs $560b for UBI and unemployment).

https://i.redd.it/7ji35fxrq4p41.png

It's pretty funny to see Democrats patting themselves on the back about what a good deal they got for working americans. This is pretty much a handout to big business, and they wrote you a token check to get it shoved through.

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kanyethegreat 2271 days ago
That's for the first UBI payment though, right? I was under the impression there would be more, no?
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paulmd 2271 days ago
No, what passed was a one-time payment. Due to the Senate recess it was pass their bill, unmodified, or pass nothing at all.

There is some general talk in the house (in particular on the left) that this isn't really enough to handle what is shaping up to be a 4-6 month crisis at absolute minimum and we should do additional payments in the future but that's not what passed, and it's unclear whether the Senate has any willingness to pass anything further.

The Senate took off from DC for a month so nothing will be done before they get back. On this or any other coronavirus-related legislation.

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