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Old 03-23-2020, 04:33 PM
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Originally Posted by cmosdes View Post
There are the aftereffects of spending trillions now that might end up costing more lives later. If we could spend $4 trillion now to save 1,000,000 lives, maybe that makes sense. But spending $4 trillion now might mean millions of lives lost over the next 10 years that would otherwise be saved. People will lose their jobs, their homes and their health insurance. That money could have gone into research to treat other diseases, education or housing for those who run into difficult times. That $4 trillion has to come from somewhere.
As of March 20, 8 trillion dollars of wealth has been destroyed in the market. Cite. The Fed or Congress printing 4 trillion dollars only makes up half of that.
It is not like them doing this will mean there will be less money in the future for research (which would be a trivial amount in comparison anyway.) Note that with this amount of wealth lost, inflation is not going to be a problem.
Since any bonds issued now are at almost 0 interest, it is a good time to do it. Not doing it, say not funding job retention - will cost far more in the long run in the loss of taxes as the economy tanks into a depression.