Clock Ran Out
Q: What were Republicans doing?
A: Discussing alligator sausage and Louisiana, not a Covid package.
This story sounds like it is straight from The Onion, but it isn’t.
Race Against the Clock
Please consider the Bloomberg article McConnell’s Stimulus Waiting Game Turns Into Race Against Clock
It’s a time crunch of their own making. Republicans and Trump squabbled all week over the details of the plan, forcing McConnell to delay the release of the GOP proposal until Monday. That gives Congress almost no time to avoid a lapse in the unemployment aid.
The expiration is now less of an inducement to get Democrats to the negotiating table than a potential albatross they will try to drape around the necks of endangered Senate Republicans.
Treasury Secretary Steven Mnuchin touted a “fundamental agreement” among Republicans on a package of spending and tax cuts, and some Republican senators said they were expecting to see bills released as soon as Thursday. When it was clear that wasn’t going to happen, they waited for details at lunch.
Instead, they got alligator sausages courtesy of Louisiana Senator John Kennedy and little more.
“We talked about Louisiana and alligators,” South Dakota Republican Senator Mike Rounds said. “Honestly. We say, ‘Mitch what do you got?’ And he said, ‘We’re working on it. Not much to report yet, but we’re working on it.’”
Ron Johnson, a Wisconsin Republican who opposes the stimulus plan, said after the lunch that “We just found out that we weren’t going to find anything out.” Senators left Washington for the weekend with no bill text and plenty of details still to iron out.
The Clock Won
The Bloomberg article is wrong about one key thing. The clock is not about to run out. Rather, it just did.
On July 23, I commented Over 30 Million People About to Lose $600 in Unemployment Benefits
“About to lose” is now “Just lost”.
Calendar Quirk
The last full week in July ends Saturday July 25 for most state UI programs. And that is when the benefits expire, not July 31.
Rubio proposes taking up the lapse in insurance “by the first week in August.”
That would be too late.
Blame Game
The Senate can and likely will backdate a new unemployment package, but states will have to make a lot of programming changes to make that happen.
This will cause delays which Democrats will blame on Republicans.
And if the Republicans put in a means test as expected, that will cause even more delays.
Democrats already have plenty to blame on Senate Republicans. This package expiring is guaranteed to hurt Trump and marginal Senate Republicans.
Democrats Favored to Win the Senate
Earlier today I commented, Democrats Favored to Win the Senate.
This story will not help the Republican cause. Please click on the above link for details.
Trump Will Lose to Biden
For analysis of why Trump will lose to Biden, please see Only 13 Percent of Voters are Still Undecided
Republican bickering over alligators can easily turn things into a Democrat tidal wave.
Mish
Seems like a bash Trump site. Does this site ever say anything good about Trump? Back room deals to get rid of Trump while pushing this fake Virusss, and death count due the paying off incentives for doctors, and hospitals. Trump is waiting for the right time. He knows the truth about this media blitz fraud.
Mish voted for him. Maybe he can chip in?
It’s all a hoax, right? You assume Trump can actually think logically. If it walks like a duck and quacks like a duck ………
Trump knows a lot of stuff. Covid being gone in a few weeks, back in April or whenever, being just one of them. Very few others knew that. Ditto that Mexicans would pony up to build a giant wall. Even the Mexicans didn’t know that, so that obviously takes a real stable genius to figure out….
Sorry, very naive question here, but should the $600 supplemental insurance been extended? I’m sure if I were one of the unlucky to have become unemployed, I would say “YES!”, but I hear stories of people making more on UI than from their previous job.
The Republicons are right,that cash was wasted on all those broke ass peasants, they have food lines and shelters for them,send the cash to the truly needy like Raytheon or Lockheed, who in there right mind would say no to a new attack sub or cruise missile!
Yeah, what happen to Reagan’s 600 ship navy? I think, we could have the Chinese build them in their shipyards on the cheap. Looks like a plan.
So looks like the Republicans are going ahead with their proposal of 70% wage replacement.
Whatever they do, they have already LOST!
Their management covid 19 is a great DISASTER!
Yeah, give $600 more per week with the Brrr Printer. People have to go to work, wear masks, and it’s going to be a herd immunity like it or not. Vaccines are on the way (tickers: MRNA, NVAX, INO, VXRT, etc) Also, lets get those lazy Antifa and BLM people working and contributing to the economy instead of burning our cities. For those susceptible, then use more cautions. We cannot hide in our homes. Not everyone can have a cush typing job sitting at home all day.
DNFTF. FANGMAN + BLK!
When I grew up, I realized the the advancing of the clock and calendar was inevitable and inescapable.
Apparently that is not true for everyone.
It is ironic that the GOP has devolved into the party of magical thinking of pre-teens.
They’re gonna run this country into the ground to try and get rid of Trump and then after the election “discover” a way to get the country back to work and kids back in school.
Yeah, the whole world is in the toilet in a plot to get rid of Trump.
Trump is not the only stable genius, I see…
No njbr the whole world is in the toilet because the CCP never shutdown international flights out of Wuhan international during they’re lockdown and again for the record I’m not a trump fan and I didn’t vote for the reality tv “star”.
Just an opinion-observation.
Kids back to school and bring Covid 19 to their parents, parents in laws and grand parents! GREAT!
trillions in debt already, trillions more if Trump’s elected and you worry about the dems running it into the ground? LOL.
When it was 18 trillion it was never gonna be paid back but people were still working, paying rent/mortgages and kids were going to school, this is just insane.
I own more than $350,000 worth of physical gold and silver.
I would LOVE to see the Demonrats “run the table” in November.
But I would feel sad for the rest of the country.
Physical or paper gold?
Do you have any hedges if GLD slides?
GLD price always fluctuate between greed, fear and trading on fake news – good & bad!
I said PHYSICAL.
Silver in Monster Boxes and all the Gold in a briefcase.
Armed more than sufficiently to defend against anyone foolish enough to try to steal it.
And I am hedged with GLD and SLV slightly-out-of-the-money, long-dated puts.
Seriously man you might want to delete that. If I wanted to I could find your house though your IP. Even if you were using a VPN if I had the time.
You also have an image witch could be identified. Be careful.
Anyone that wants to come and try to get it better be ready to get shot in the face.
My DD-214 says “Expert Qualification Badge” with M-16, M-203 and M1911.
“Three people with a good plan” will be three sorry people in body bags in 600 seconds or less.
Most people would would be floored by what 3 people with a good plan could do in 600 seconds or less.
You should delete this post.
I’m feeling lucky.
A Record 170 Tons Of Physical Gold Were Just Delivered On The COMEX: Here’s Why https://www.zerohedge.com/markets/record-170-tons-physical-gold-were-just-delivered-comex-heres-why