Movbez4
Movbez4's JournalNancy Previews House Stimulus Package
Let's get this past and put pressure on Moscow Mitch....No Corporate Bailouts!
Speaker Nancy Pelosi (D-Calif.) on Monday offered an early glimpse of House Democrats' sweeping proposal to boost the crippled economy amid the coronavirus crisis, presenting it as a family-focused alternative to the Republicans' package, which Democrats deem too corporate-friendly.
The Speaker said she still intends to have the House return to Washington to vote on the package, but suggested such a step might not be necessary if Senate negotiators can seal a deal that wins the support of her House caucus.
"That's our hope, yes, but we'll see what the Senate does," Pelosi said from the Speaker's balcony in the Capitol.
House Democrats want to expand funding for unemployment insurance, offer student loan relief, extend the reach of food stamps, and bar corporations that receive federal help from buying back stocks or firing employees, among other provisions. The bill would also expand worker safety protections – like those governing the front-line medical workers dealing with infected patients – and require the Trump administration to enforce them.
The House bill, which is expected to be unveiled later Monday, arrives as Senate lawmakers are scrambling to break an impasse over a massive package designed to shore up the economy against the fallout caused by the novel coronavirus outbreak, which has crashed markets, shuttered businesses and sparked mass layoffs across the country.
Senate leaders and White House economic officials had huddled all weekend in search of an agreement, but the sides remained far apart on Sunday, when Democrats united to prevent a GOP bill from advancing toward a final vote. Despite another round of talks Monday morning, Democrats blocked the measure a second time on Monday afternoon.
Democrats in both chambers have raised numerous objections with the Republican bill, saying it leans too heavily in favor of corporations while neglecting more vulnerable populations — including seniors, students, and the low- and middle-income workers — hit hardest by the crisis.
Pelosi summed up the Democrats' objections in a sentence.
"The Senate Republican bill put corporations first," she said.
Tempers Flaring in Senate
Poor Susan Collins she is angry:
Tensions boiled over on the Senate floor Monday as senators debated a mammoth coronavirus stimulus package.
The normally clubby atmosphere was gone as Senate Majority Leader Mitch McConnell (R-Ky.) opened the chamber with a blistering speech, Democrats temporary blocked Republicans from speaking and one senator was overheard calling the exchange “bullshit.”
McConnell eviscerated Democrats during his speech, at one point asking, "are you kidding me?"
“It is time for Democrats to stop playing politics and step up to the plate,” McConnell added.
But the frustrations only escalated from there.
When Sen. Susan Collins (R-Maine) tried to get permission to speak, Minority Leader Charles Schumer (D-N.Y.) objected.
“This is unbelievable,” Collins could be overheard saying on the floor, before going to consult with GOP leadership.
Sen. Bill Cassidy (R-La.) then tried to speak, but Schumer similarly objected.
The tactics sparked vocal pushback from Republican senators who were on be floor.
Sen. Tom Cotton (R-Ark.), who was standing at the front of the chamber, could be overheard calling the maneuvers “bullshit.”
Schumer then tried to consent to speak, and Sen. Jim Risch (R-Idaho), who was in his seat at the back of the chamber, yelled that he also objected.
When Schumer tried to argue that he still has control of the floor, Sen. Ben Sasse (R-Neb.), who was presiding over the floor drama, replied: “No, you do not.”
McConnell and Schumer eventually reached an agreement to allow for senators to give speeches before a key procedural vote.
But the frustration continued to play out, as Collins used her speech to call Democrats blocking the bill, which they say was drafted only by Republicans, “disgraceful.”
Collins also walked over to directly confront Schumer while he was still on the floor, leaning toward him and pointing her finger at him.
“You are objecting to my speaking? This is appalling!” she said.
As Sen. Dick Durbin (D-Ill.) was speaking, Risch tried at multiple points to ask a question.
“Time remains on the Republican side. They can use it as they wish,” Durbin replied. “I allowed the senator from South Dakota to finish his. I hope you’ll show that same respect.”
Just voted in Tampa
Not a whole lot of people at the site voting, literally me and five other people, so I expect the amount of votes tallied to be very low. I started off on my journey to find which candidate that I would vote for as undecided, torn between four candidates. Joe Biden wasn't in my top candidates, but as candidates began to drop out, I weighed the pros of Biden and Sanders, the two things that swayed me towards Joe were that 1) I want someone that Independents will support, and 2) the actions of Sanders supporters really turned me off, in particular how they treated Warren, but also the general nastiness towards anyone that didn't support Bernie.. Thus today I backed Joe, and I hope that the party can now unite behind him.
MLB shutting spring training down
and the start of the regular season will be pushed back to an unknown start date. Things are getting crazy, these large sports leagues must be in the know just how dangerous this Corona Virus will become.
NHL Shutting Down
NHL suspends play because of coronavirus, report says
The NHL is suspending its season indefinitely because of COVID-19, report says. The league announced its decision Thursday, the New York Post is reporting, a day after the NBA halted play because Utah Jazz center Rudy Gobert tested positive for the coronavirus.3 hours ago
Dow Futures down -1100
Investors are not happy with Trumps proposals to combat Corona Virus, and are displeased with the European flight ban. Yesterday, was a blood bath for my 401K, wonder if it's going to get worse:
Coronavirus Stock Market Correction Is A Bear
The coronavirus stock market correction roared into bear market territory Wednesday, with the major indexes wiping out Tuesday's big gains. The WHO's global pandemic declaration hit stocks, and Goldman Sachs saying the bull market is over didn't help.
The Dow Jones Industrial Average tumbled 5.9%, the S&P 500 index sank 4.9%, and the Nasdaq composite lost 4.7%. The Dow Jones has fallen more than 20% below its February all-time high. The S&P 500 and Nasdaq hit the 20% bear market level intraday Wednesday. If stock futures are any indication, the S&P 500 and Nasdaq are set to open deep in bear market territory.
The Dow Jones today hit a 52-week low intraday. So did the S&P 500 index. The Nasdaq set a five-month low. The one-day stock market rally attempt is finished.
Among the best ETFs, the Innovator IBD 50 ETF (FFTY) dropped 6%. The iShares Expanded Tech-Software Sector ETF (IGV) fell 4.8%. The VanEck Vectors Semiconductor ETF (SMH) sank 5.4%.
Bloomberg playing the long game
Bloomberg hoping for a contested convention to win
Former New York City Mayor Michael Bloomberg said on Super Tuesday that his only way to win the Democratic presidential nomination would be through a contested convention.
The 78-year-old candidate told reporters in his Miami field office that he didn't know if he was going to win any of the 14 states and one territory that are voting on Tuesday, according to The Associated Press.
“You don’t have to win states, you have to win delegates," Bloomberg, who is appearing on primary ballots for the first time Tuesday, added.
When pushed on whether he wanted a contested convention in July, Bloomberg replied: "I don’t think that I can win any other way.”
The billionaire's strategy, which has included massive ad buys in Super Tuesday states, hinges on finding success in those contests.
A contested convention happens when a candidate has a plurality of pledged delegates, but not a majority — at least 1,991 pledged delegates.
Since the Democratic primary field is now down to four main candidates — Sen. Bernie Sanders (I-Vt.), former Vice President Joe Biden, Sen. Elizabeth Warren (D-Mass.) and Bloomberg — the path to 1,991 has become somewhat more clear.
Previously, superdelegates — senior or former Democratic leaders, including former presidents and lawmakers — were able to vote on the first ballot at the convention, allowing candidates who had a plurality of delegates to capture the nomination on the first ballot. Superdelegates are now ineligible to vote until the second ballot.
Without a majority of delegates, the convention would become brokered and move to a second ballot. The last brokered convention for both parties was in 1952, when Adlai Stevenson received the Democratic nomination and Dwight Eisenhower the Republican nomination
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