Pelosi's stimulis gamble failure

 PELOSI'S WINDOW OF OPPORTUNITY HAS CLOSED

NO STIMULUS FUNDING BEFORE ELECTION

Earlier this year there were several rounds of stimulus funding approved in a bi-partisan manner. This included direct payments to individuals in the amount of $1200. Expanded unemployment with $600 a week federal enhancement. Loans for small business that were forgivable if they keep their employee's working. These measures totaling over $3 Trillion dollars were successful in keeping the economy from self destructing. The success can be attributed to the fact that this money was conveyed directly to individuals and small business. 

The ink was not dry on these plans and House speaker Nancy Pelosi passed a $3.4 bill that she believed would be a political opportunity to strike while everyone was concerned by the effects of the pandemic. This spending included many unrelated spending and also extended the $600 additional employment until next year. It was a gamble that she played to the hilt and has now lost.

The Senate refused to take up the bill as passed and many thought that the effects of the other initiatives should be analysed before more spending should be added.

It was determined by many that the $600 additional unemployment was too high and while an additional federal enhancement was acceptable it needed to be more realistic so that people would have some incentive to return to work. Some were collecting over $60,000 a year in state and federal unemployment. Many were making more money being laid off than when thy were working and would never return to work. 

There were also changes to voting rules, no immunity to schools and business from suits involving Covid-19 and unaccountable lump sum payments to states.

Both sides agreed to the $1200 direct payment and extended relief for airlines and the Restaurant business. The Senate proposed  as much as $1.6 trillion that would have addressed the most critical issues. Pelosi refused to give up on her hope of  a wish list of partisan objectives. She believed that the President would be desperate enough to say yes to any proposal to enhance his election chances. She has lost that gamble and I would expect there will not be a stimulus bill before the election. All the leverage that she had is now gone and the terms will only get harder in the future. This will be the case no matter the outcome of the election.

Of course the loser is the American workers, business, schools and the economy in general.

originally published 10/23/20,

 Now Pelosi finally agreed to a $900 billion bill. She lost this game of Russian roulette, but of course, she lost nothing, just the Americans who needed the aid months ago. This must be the most partisan speaker ever, who has not only hurt the american people, but her own party.