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Thread: Government Workers are Next for layoffs & furloughs

  1. #11
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    Re: Government Workers are Next for layoffs & furloughs

    Quote Originally Posted by Casper View Post
    If the States are required to pay back what they get from the Feds it does not add to the Federal debt.
    The states are quite capable of issuing bonds and raising the additional taxes needed to repay that debt.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Government Workers are Next for layoffs & furloughs

    My friends, we have a much bigger problem.

    Assuming for a moment that States and several major metro areas start layoffs there is only one real entity that can deal with such aggregate demand fault, and it happens to be the federal government.

    We did this in 2007-2008, shifting debt via stimulus to the States as well.

    May have little choice but to do this again else the economic faults created by removing more people from healthy participation in the economy will amplify our economic problems and amplify the States and major metro areas from doing something about it.

    The States themselves can only obtain emergency funds via two ways, issue new debt or ask the feds for help. Taxation is the worst idea when the economy has a fault, closely followed by accelerating a decline by sitting idly by allowing more people to be without a job.
    "Democracy without respect for individual rights sucks. It's just ganging up against the weird kid, and I'm always the weird kid." - Penn Jillette.

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    Re: Government Workers are Next for layoffs & furloughs

    Quote Originally Posted by ttwtt78640 View Post
    The states are quite capable of issuing bonds and raising the additional taxes needed to repay that debt.
    The first step in states managing massive personal debt is recognizing there’s a problem. Are we there yet?

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    Re: Government Workers are Next for layoffs & furloughs

    Quote Originally Posted by OrphanSlug View Post
    The States themselves can only obtain emergency funds via two ways, issue new debt or ask the feds for help. Taxation is the worst idea when the economy has a fault, closely followed by accelerating a decline by sitting idly by allowing more people to be without a job.
    when the economy has a fault? It didn’t have a fault, Governors forced people against their will to leave their jobs.
    And while I understand your use of the word taxation to mean additional income or sale tax, I wanted to point out this is all taxation in some form regardless of your bailout solution. Federal money going to states is paid taxation, either current or future taxation. Same goes for increasing the money supply.

    You are right, we do have a big problems.

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    Re: Government Workers are Next for layoffs & furloughs

    Quote Originally Posted by supremeLaw View Post
    when the economy has a fault? It didn’t have a fault, Governors forced people against their will to leave their jobs.
    And while I understand your use of the word taxation to mean additional income or sale tax, I wanted to point out this is all taxation in some form regardless of your bailout solution. Federal money going to states is paid taxation, either current or future taxation. Same goes for increasing the money supply.

    You are right, we do have a big problems.
    That is not entirely accurate, just about everything you said is problematic.
    "Democracy without respect for individual rights sucks. It's just ganging up against the weird kid, and I'm always the weird kid." - Penn Jillette.

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    Re: Government Workers are Next for layoffs & furloughs

    Quote Originally Posted by Captain Adverse View Post
    Why should the federal government extend UE checks "past July?"

    People need to get back to work. Right now MANY people are getting paid more for sitting home "sheltering" than they would be paid at their old jobs. No incentive to return to work, and every incentive to lose their jobs, as long as they can ride the Federal gravy train.

    IMHO the only people who are pushing every effort for the economy to falter are doing so for two reasons.

    One, to blame Trump for a bad economy so that the Democrats can use that for their campaign.

    Two, so the Democrats can subsequently claim credit for the economic recovery after November 2020, if they win.
    People are still being laid off or don't you know that. May furloughed employees have not been recalled by their place of employment and many may never be called, they just don't know. The businesses are going to be operating Lean for at least the rest of this year, pretending that everything is going to go back to normal is delusional. It is not hoping the economy will not be booming in November, it is simply the fact of the matter, show me reputable economy experts that are saying otherwise.
    AND, add to that the Fact that we are still in a Pandemic, and the numbers are rising the more we open up, another harsh lesson for us to learn.
    As for November, trump has already lost and now the Senate is up for grabs. Interesting times.

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    Re: Government Workers are Next for layoffs & furloughs

    Quote Originally Posted by ttwtt78640 View Post
    The states are quite capable of issuing bonds and raising the additional taxes needed to repay that debt.
    Then they should, and they should use their "rainy day funds", did you know Texas is sitting on at least 10.2 BILLION dollares and the Governor and Legislators refuse to use. If it ain't raining now in their opinion they should look out the window.

  8. #18
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    Re: Government Workers are Next for layoffs & furloughs

    Quote Originally Posted by Casper View Post
    Then they should, and they should use their "rainy day funds", did you know Texas is sitting on at least 10.2 BILLION dollares and the Governor and Legislators refuse to use. If it ain't raining now in their opinion they should look out the window.
    The congress critters from Texas will play the same get a federal handout game as the rest of them - why spend state/local funds when you can get "free" federal funds instead?
    Last edited by ttwtt78640; 06-01-20 at 09:28 AM.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Government Workers are Next for layoffs & furloughs

    Quote Originally Posted by OrphanSlug View Post
    That is not entirely accurate, just about everything you said is problematic.
    Please explain. Share the accurate information and corrections.

  10. #20
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    Re: Government Workers are Next for layoffs & furloughs

    Quote Originally Posted by ttwtt78640 View Post
    The congress critters from Texas will play the same get a federal handout game as the rest of them - why spend state/local funds when you can get "free" federal funds instead?
    Don't know maybe we should ask them?

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