COVID-19 Financial Relief Efforts
Completely random thoughts on the COVID-19 panic which is brought the U.S. economy to its knees.
I would never pretend that I understand the complexities associated with keeping the economy running.
I do know that $2 trillion dollars is a lot of money.
If you divide $2 trillion dollars by the 330 million (estimated population of the United States), you get about $6,060 dollars per person.
But the amount of “COVID-19 relief” money that people will receive directly is a lot less than that.
Leaving me to conclude that a lot of money is going to companies.
I’m assuming the companies will be using this money to fund payroll expenses since many of us are locked down.
The money should go to the people.
But how are we going to pay for this? What U.S. Government funded programs and services will be cut? What will the budget look like coming out of this? Will DoD suffer? Have we just crippled ourselves as a country because we panicked?
Due to the COVID-19 panic of 2020, interest rates on Federal student loans were cut to 0% and payments don’t have to be made through September 30. No penalty for not making payments and your PSLF will not be impacted.
Student loan debt is a big problem. It is an easy trap to think “Man, I’d love for this debt to go away.”, but then what? What about students that are in school now? What about future students?
Should college be free? I don’t think so because there has to be some value associated with the product being purchased. Tuition rates need to flex based on the value generated by a college or university. Tuition is way to expensive now.
I think college should 100% be treated like a trade school. If you can’t get a decent paying job out of college, why did you pay for the degree? If you just want to learn things, go read books for free at a library. If you want to engage in lively debates on a topic join a Meetup.
We can’t think about forgiving any college debt until we address the issue that college is an overpriced holding tank to keep kids out of the workforce for 4 or more years after high school.
The 2020 Run On The Treasury
I was camping at Myrtle Beach when the media fueled, politically motivated, COVID-19 panic started to set in across the country. I laughed it off until I ran over to the Myrtle Beach Costco to pick up a few things for dinner.
Within weeks the country was effectively crippled.
Fortunately, I can work from home and can continue to earn money during all of this. And don’t think for a minute that I am making light of the issues that so many people are facing right now.
But one has to ask the question “What the fuck?”
I guess I didn’t realize how quickly a vast number of people would be willing to toss the Bill of Rights for the promise of a little cash from the Government.
How long will that check last?
A few trips to the grocery store and a couple tanks of gas.
Man, that is the big question. Then what indeed.
Here are a few questions I have.
- When will people get back to work?
- Will companies realize they can permanently downsize?
- When will the White House issue an order directing Governors to reopen states?
- What happens when all the kids that have been sent home from school realize that the education they can get for free, online or from books, is of a higher quality than they get from school. Sitting in a classroom all day being baby sat? Fuck that.
- Will tele-work become the norm?
- Will the Federal workforce be trimmed to pay for the huge run on the treasury?
- This virus is here to stay. When we get back out to work and people start getting sick again will everyone panic?