Giving Americans Money to Offset Coronavirus Impact Gains Support in Congress

23B1 wrote: post #2

https://petitions.whitehouse.gov/petition/suspend-mortgage-p... 3 signatures so far. If the housing market, core to our economy, can be insulated from a crash rebuilding will be significantly easier.

Has the current administration ever bothered to respond to any of those?

Re: Giving Americans Money to Offset Coronavirus Impact Gains Support in Congress

#6

Post by [deleted] » Tue, Mar 17, 2020, 2:27 PM UTC

andylei wrote: post #4

sethammons wrote: post #3

Instead of giving money, why not suspend debt payments and interest growth?

because some people might need to buy food

[deleted]

Re: Giving Americans Money to Offset Coronavirus Impact Gains Support in Congress

#7

Post by graeme » Tue, Mar 17, 2020, 2:28 PM UTC

sethammons wrote: post #3

Instead of giving money, why not suspend debt payments and interest growth?

The debt payments go to someone. Suspending those still creates a cashflow hole.

I haven’t fully thought through the effects of handing out cash, just wanted to point out that suspending debts isn’t costless. Landlords would reduce spending, and banks might slip into crisis.

And what of those with no debt, but who can’t work due to virus? Or those with debt, but who can’t work? They still need to eat.

Re: Giving Americans Money to Offset Coronavirus Impact Gains Support in Congress

#8

Post by davis_m » Tue, Mar 17, 2020, 2:29 PM UTC

sethammons wrote: post #3

Instead of giving money, why not suspend debt payments and interest growth?

Does it have to be one or the other?

Re: Giving Americans Money to Offset Coronavirus Impact Gains Support in Congress

#9

Post by baybal2 » Tue, Mar 17, 2020, 2:29 PM UTC

23B1 wrote: post #2

https://petitions.whitehouse.gov/petition/suspend-mortgage-p... 3 signatures so far. If the housing market, core to our economy, can be insulated from a crash rebuilding will be significantly easier.

I think housing market in USA seriously needs a healthy correction to make housing available to masses again

Re: Giving Americans Money to Offset Coronavirus Impact Gains Support in Congress

#10

Post by koheripbal » Tue, Mar 17, 2020, 2:30 PM UTC

sethammons wrote: post #3

Instead of giving money, why not suspend debt payments and interest growth?

Because then the banks will go under. The government isn't the recipient of loan payments.