Search This Blog

Wednesday, December 2, 2020

I know the majority of Congress cares little for people.

Given that it's been more than a half a year since any legislation to help citizens, you don't have to be a soothsayer to know that.

Now there appears to be some movement before this group of mostly millionaires flies home to enjoy a month off.

So given that politics, party and power matter more than people, I want them to consider the economy. Yes, that amorphous word overused to the point where it has little meaning.

In the second quarter of 2020, consumer spending dropped in the rage of 30 percent. That's remarkably perilous given consumer spending makes up 70 percent of the U.S. Gross Domestic Product. (Thanks to www.thebalance.com for the numbers.)

Then in the third quarter, consumer spending increased 40 percent. Why? Stimulus packages put money into pockets of the Americans who needed it the most -- people making less than $75,000. Folks bought groceries and gasoline and household items. They paid their rent, so that landlords could do the same. People could get their cars fixed so that mechanics could also continue on with a semblance or a normal lifestyle.

But within weeks, that stimulus money disappears and with no end in sight for the pandemic, the precipice is going will be send many Americans into the Gorge of Eternal Peril. We're talking Great Depression proportions.

Congress -- particularly the Senate -- must act.

Senate majority leader Mitch McConnell has long balked at any meaningful action, saying "we're not talking about play money."

Well, we're not talking about play people either.

Forgive me for mentioning people.

It's about the economy, stupid.

Peace and hope unto all of you my brothers and sisters.


No comments:

Post a Comment