I gotta correct him on this.
That news article headline btw is misleading and one of the reasons again why I say Bernie is out of touch regarding the economy (and as a result has terrible economic policies). The government didn't dump $1.5 trillion into the stock market, they injected it into the economy to bolster lending and spending because rates fell. They're worried about the economy contracting and falling into a recession. With the Corona virus and debt issues America doesn't need that right now because it means unemployment will rise and more. The stock market reacts to the news and so people like you or I, banks and investors all over buy stocks because the government slashed rates and pumped money into the economy.
Also $1.5 trillion is nothing to the economy. If you want free healthcare, it's going to cost a lot more than a trillion bucks.
Free healthcare will become a reality in America, in I'd say 10 years if Trump leaves office. Obama implemented the steps but Trump rolled it back. Also healthcare here in Canada isn't entirely "free". It is for the most part tho.
I agree with this.
However the fact remains that the federal government lent over a $Trillion dollars overnight to the banks and money makers to ensure liquidty in the markets and stave off a recession.
You are arguing semantics.
Whether it was through the vehicle of low interests bonds or some other mechanism does not change the fact that the Fed Invested $Trillions of dollars to stop a potential recession.
Bernie is saying that American people are already experiencing more and more impacts of an affordability crisis and wealth inequality; which are similar in nature to what comes with a recession - except for the fact that they these impacts are semi permanent, structural and codified by legislation.
The American people have an emergency. Where are the structural reforms that provide relief???
Before you ask “how are we going to pay for it?”, realize how myopic and short sighted that statement sounds.
How is the Fed going to recuperate the money it just invested into the markets?
Investments pay dividends in the future.
Medicare for All actually saves Trillions of dollars over the long term.
Wealth distributed to hundreds of Millions of people grows the economy and GDP over the long term.
But put the domestic budget aside for a moment and remember that government and economic systems exist for the experienced benefit of the members of society ...
If it is failing at that core purpose, than all of these meta discussions are moot.
