The Biden Presidency - 2020

[Edward64]

Originally Posted by Thomkal

You might have been one of the few still posting in the Trump thread.

Not me. I think most here (but not all) of us can move on from Trump. It helps that (surprisingly) Trump has not been in the news that much. Thanks to Twitter I guess.

It's not all Biden now but he owns 80+%, especially domestic and covid response.

There's been not much going on foreign policy wise yet other than some "talks" in Afghanistan and "words" against China. He's had it easy so far. Wonder when & where the first foreign crisis is going to come from. Odds are NK crazy kid will throw a tantrum or Iran will somehow escalate.

[kingfc22]

Originally Posted by NobodyHere

Which idiot proposed removing the Estate Tax?

GOP push for estate tax reform is a handout to the rich - Los Angeles Times

[Edward64]

‘We want to be oversupplied’: U.S. buying additional 100 million doses of J&J vaccine - MarketWatch

“I’m doing this because in this wartime effort we need maximum flexibility,” Biden said of buying the additional doses. “There’s always a chance that we’ll encounter unexpected challenges or there will be a new need for a vaccination effort. A lot can happen, a lot can change, and we need to be prepared.”
:
“We want to be oversupplied and over-prepared,” White House press secretary Jen Psaki said ahead of Biden’s announcement.

Absolutely the right move. +100M doses, let's swag $40 per dose = $4B.

“With this order, the U.S. will have enough doses to vaccinate 500 million people, and there are 330 million people in the country,” said Stephen Stanley, chief economist at Amherst Pierpont, in a note.

“And by the way, there are at least two more vaccine candidates in the pipeline (Oxford/AstraZeneca AZN, +1.10% and Novavax NVAX, +1.53% ) that could gain approval in the spring, and we would be committed to buy at least 100 million doses each from them upon approval,”

Addition of AZN and NVAX, using same formula $4B x 3 = $12B. Cheap insurance to significantly reduce impact of another round of this crap (if it happens).

Now if it mutates to something that our vaccines can't handle, it'll be a bad call. But it does seem pharma's can "adjust" their vaccines to accommodate (some) new variants.

Biden also addressed what could be a surplus of doses in the U.S.

“If we have a surplus, we’re going to share it with the rest of the world,” the president said at Wednesday’s event, noting that his administration is giving $4 billion to the World Health Organization’s Covax program, which aims to ensure vaccine equity for lower-income countries.

A good thing but not sure Biden would ever give up the surplus (maybe in 2023?). Better thing to do is to give/loan/subsidize/help negotiate countries so they can buy their own as soon as possible.

[albionmoonlight]

Originally Posted by Edward64

Now if it mutates to something that our vaccines can't handle, it'll be a bad call. But it does seem pharma's can "adjust" their vaccines to accommodate (some) new variants.

Like many, I've been worried about mutations, but I read something the other day that got me more hopeful on that score.

The virus has only a limited number of ways that it can mutate and still be effective as a virus.

The vast majority of mutations would make the virus less effective. So the number of mutations about which we have to worry is finite. And our scientists have a handle on what those are likely to be and are already working on those vis a vis vaccine adaptations.

[miked]

I think we need to stockpile in case one needs boosters a year or two later.

[Ksyrup]

I just assumed this was going to eventually be more like an annual flu vaccine than like a hepatitis shot or something.

[albionmoonlight]

Originally Posted by Ksyrup

I just assumed this was going to eventually be more like an annual flu vaccine than like a hepatitis shot or something.

Yeah. My guess is that it will just be part of the annual routine: Flu shot & COVID booster.

[Edward64]

Originally Posted by Edward64

Yeah baby, found some pork I really like. Not sure if it made it in the final bill though.

As someone thinking about doing semi-early retirement, healthcare insurance until Medicare has been a concern so have been looking into Obamacare stuff. I am not thinking that I would spend more than $85K a year in retirement but was concerned if capital gains, or dependents working (and myriad of other possible factors) and how that would impact calculation for subsidies.

With this proposal, it takes all that uncertainty away.

Looks like it made it in! Looks like semi-early retirement is more of a reality now ...

https://www.nbcnews.com/politics/con...igned-n1260719

With surprisingly little fanfare, the legislation includes some of the biggest changes to the Affordable Care Act (often referred to as "Obamacare") since President Barack Obama signed it in 2010.

The bill boosts subsidies for customers who buy insurance through the ACA, lowering premiums across the board and outright eliminating them on benchmark plans for people making under 150 percent of the federal poverty level.

For the first time, people making over 400 percent of the federal poverty level ($51,520 for individuals) can qualify for federal help, as well, with their premiums capped at 8.5 percent of income. The new subsidies are for only two years; Democrats are likely to try to extend them.

[QuikSand]

Sadly, the way forward for minor policy changes right now is as an add-on to HUGE policy changes, where your issue gets lost in the policy shuffle.

[JPhillips]

Originally Posted by QuikSand

Sadly, the way forward for minor policy changes right now is as an add-on to HUGE policy changes, where your issue gets lost in the policy shuffle.

Another outcome of the filibuster. When you may only pass two bills of substance, you want to throw everything into them.

[Vegas Vic]

I think Biden's goal of offering the vaccine to everyone who wants it by May 1 is doable, especially when factoring in the anti-vaxxers, science deniers and serial procrastinators who will forego the opportunity.

[GrantDawg]

Originally Posted by Vegas Vic

I think Biden's goal of offering the vaccine to everyone who wants it by May 1 is doable, especially when factoring in the anti-vaxxers, science deniers and serial procrastinators who will forego the opportunity.

I hope so. If I read the announcement correctly, I should be eligible in my state next week. Just looking around I am not seeing anyone that says they have open appointments. Opening up who can administer the shots probably helps, but it still really hard to get an appointment now.

[albionmoonlight]

I think that everyone will be eligible by May 1st. Even the most anti-Biden governors aren't going to pick a fight with him about wanting to give their citizens less vaccine access.

I think that it may still take a while after May 1st for everyone to get their shots. It is one thing to be eligible. It is another thing to make the appointment.

Still--late June seems like a pretty good target for everyone who wants it to have finished both shots (or 1 with J&J).

[BYU 14]

Yeah, he made a point to clarify that everyone would be eligible in terms of supply/opportunity subject to scheduling. Still a big win on that front.

[NobodyHere]

Originally Posted by BYU 14

Yeah, he made a point to clarify that everyone would be eligible in terms of supply/opportunity subject to scheduling. Still a big win on that front.

I would wait until May 1st before calling it a win.

What if there's not enough vaccines for all the prioritized groups? Do the schedules then get thrown out the window?

[BYU 14]

If the drug companies meet deadlines there will be more than enough vaccine, it was always going to be the availability of sites/staffing and that falls to the states. You can't just have anyone giving the vaccinations.

My company is volunteering at sites here in Phoenix for logistics and since we are a health insurance company, offering qualified personnel to give vaccinations. In working with DHS here they are not concerned at all with the supply right now, it is getting enough boots on the ground to give them and scheduling is still hit and miss.

[JPhillips]

NY initially made a mistake in Cuomo having to control everything with the distribution. They basically ignored the public health people throughout NY and tried to create a system from scratch. Now they are letting the people with vaccine experience do much more and there's a noticeable improvement in locations and vaccine distribution.

[molson]

This projection is a little more difficult because it relies more on the states. But Biden initially projected 100 shots in his first 100 days. We'll hit that today on day 51 of his administration. (And much fewer days than that if you use the QAnon inauguration date, which I'm seeing they've switched to March 20 now)

I'm sure his team feels confident about this projection. Setting out tangible goals and beating them is a good look.

[Lathum]

Originally Posted by BYU 14

If the drug companies meet deadlines there will be more than enough vaccine, it was always going to be the availability of sites/staffing and that falls to the states. You can't just have anyone giving the vaccinations.

My company is volunteering at sites here in Phoenix for logistics and since we are a health insurance company, offering qualified personnel to give vaccinations. In working with DHS here they are not concerned at all with the supply right now, it is getting enough boots on the ground to give them and scheduling is still hit and miss.

There is zero excuse to not ha e the national guard and fema involved from the very start. If the former guy had planned accordingly we could have had a much smoother roll out and seem less transition. No reason we couldn’t have has mass triage centers set up in every metro area that could have inoculated large numbers from the start.

[Ghost Econ]

I like that MAGAts are spamming "dementia joe" today. They had a President for 4 years who couldn't slobber through 10 minute speeches, but Biden gives a quality speech and someone he's a dementia patient.

Have they not met people with dementia? It's not fun.

[Lathum]

I made the mistake of listening to ten minutes of Fox News this morning. They alternated between Joe reading a prepared speech and not taking questions and the fact that 1 million shots in 100 days isn't really a big deal. Now we all full well know if he didn't meet that goal they would be killing him also. Its ridiculous.

[NobodyHere]

Originally Posted by Ghost Econ

I like that MAGAts are spamming "dementia joe" today. They had a President for 4 years who couldn't slobber through 10 minute speeches, but Biden gives a quality speech and someone he's a dementia patient.

Have they not met people with dementia? It's not fun.

Are they done with his wild rabid dog?

[ISiddiqui]

Wow, Stimulus is already pending in our account. That was insanely quick.

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[GrantDawg]

Friend on Facebook says his hit. I wish mine had. I am itching to buy a new bed.

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[JPhillips]

Biden is so good at the relationships aspect of politics. Calling out and praising Bernie for his help with the ARP is simple, but so many politicians overlook things like that.

[NobodyHere]

Originally Posted by ISiddiqui

Wow, Stimulus is already pending in our account. That was insanely quick.

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My bank is saying deposits will start on the 17th.

[cuervo72]

Originally Posted by GrantDawg

Friend on Facebook says his hit. I wish mine had. I am itching to buy a new bed.

Bed bugs, eh?

[GrantDawg]

No, lol. I am actually a professional at getting rid of those.

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[Edward64]

Hmmmm, pretty good news I guess. Of the $1.9T, we already have the $1T borrowed and ready to go, so only .9T net new.

How Trump’s team amassed a $1 trillion war chest for Biden to deploy - POLITICO

Republicans are bashing the new $1.9 trillion pandemic relief package for further ballooning the federal debt, but it’s the Trump administration that greased the path for a smooth federal spending spree.

The Treasury has a cash pile of well over $1 trillion, which will allow the government to quickly disburse money in line with the sweeping new law, including direct checks to millions of Americans that are expected to start hitting bank accounts in the coming week. That robust rainy-day fund was built last year by then-Treasury Secretary Steven Mnuchin, who preemptively cranked up the pace of government borrowing, unsure of how and when Congress might mandate further relief measures.
:
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So, despite concerns that markets will be flooded with new U.S. government debt to pay for the rescue package, the Treasury Department might not have to change its borrowing plans much at all to fund the legislation signed into law by President Joe Biden on Thursday.

“There are enormous implications for everyone else, but the Treasury was out in front of this nine months ago,” said Lou Crandall, chief economist at research firm Wrightson ICAP.
:
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Treasury always has to have enough cash on hand to fund immediate government spending obligations, which it keeps as deposits at the Federal Reserve. But those funds more than quadrupled in 2020. When Biden took office, Treasury’s deposits at the Fed stood at about $1.6 trillion, compared to $400 billion in 2019, and Treasury is expected to burn through about $1 trillion of that already-borrowed cash to help fund the relief package.

“That is $1 trillion of money that the Treasury does not have to borrow this year,” said Seth Carpenter, chief U.S. economist at UBS who served as a top debt-management official at Treasury under President Barack Obama.

[NobodyHere]

The bar for good news is pretty low these days.

[PilotMan]

I saw a minute of Hannity and he was railing that it had been 50 whole days since Biden had given a news conference and I laughed and laughed. It didn't matter much the past 4 years to him. Doofus talked all the time, but he didn't take hard questions, that's for sure.

[Edward64]

I know Biden will lose some support but he is right in wanting to wait for the investigation of Cuomo.

The dilemma is that Biden himself have been accused of being too touchy-feely. Nothing to the level of Cuomo (or Trump for that matter) but enough times by enough different women.

[NobodyHere]

Originally Posted by Edward64

I know Biden will lose some support but he is right in wanting to wait for the investigation of Cuomo.

The dilemma is that Biden himself have been accused of being too touchy-feely. Nothing to the level of Cuomo (or Trump for that matter) but enough times by enough different women.

Democrats are hypocrites. When it's one of their own they believe in investigations.

When it's a accused conservative then the victim must get the benefit of the doubt.

Biden himself wouldn't survive the rules that he's proposing for college students.

[Edward64]

Originally Posted by NobodyHere

Plenty of Democrats and Republicans are hypocrites. When it's one of their own they believe in investigations.

When it's a accused of the other party then the victim must get the benefit of the doubt.

FIFY

[NobodyHere]

Originally Posted by Edward64

FIFY

don't deflect

Biden wants college male students to be presumed guilty no matter what yet Cuomo gets an investigation.

[Edward64]

Originally Posted by NobodyHere

don't deflect

Biden wants college male students to be presumed guilty no matter what yet Cuomo gets an investigation.

I actually didn’t know what you were referring to with students so I did not quote that section.

[JPhillips]

Originally Posted by NobodyHere

Democrats are hypocrites. When it's one of their own they believe in investigations.

When it's a accused conservative then the victim must get the benefit of the doubt.

Biden himself wouldn't survive the rules that he's proposing for college students.

Most of the NY elected Dems have called for his resignation.

[ISiddiqui]

Right but they don't count as Democrats (including Senators Schumer and Gillibrand, Congresspeople Nadler and Ocasio-Cortez, etc) because it messes up the Fox News narrative...

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[JPhillips]

I think all but 4 of the NY Dem congressional delegation has called for him to resign. De Blasio is practically giddy demanding Cuomo resign. I don't know the number for state-level Dems, but there have been plenty that have called for his resignation already and there's been an impeachment inquiry opened by Dems.

[Brian Swartz]

Yeah there's a difference here, and there have been other examples in recent years as well. Republicans gloss over any failings of their own more often, or in some cases trumpet them as assets. Democrats are definitely slower to judgement when it's one of theirs, but many of them get there.

Originally Posted by NobodyHere

Biden himself wouldn't survive the rules that he's proposing for college students.

This is true also, and he's not been decisive enough for my liking on this issue. Having said that, it can't be ignored the number of Democrats calling for Cuomo to go and for the voices of the accusers to be heard. You just don't see that on the other side.

[larrymcg421]

Originally Posted by NobodyHere

don't deflect

Biden wants college male students to be presumed guilty no matter what yet Cuomo gets an investigation.

No he doesn't. He wants the standard the same as it is in a civil trial, which is preponderance of the evidence. The students would still have beyond a reasonable doubt as the standard if it went to a criminal trial.

[Qwikshot]

Just remember, Trump is a rapist who did get away with it but Biden is soft. Got it.

[Qwikshot]

More grist for the Republican mill I suppose:

Biden planning first major tax hike in almost 30 years: report

Biden planning first major tax hike in almost 30 years: report | TheHill

[JPhillips]

Originally Posted by Qwikshot

More grist for the Republican mill I suppose:

Biden planning first major tax hike in almost 30 years: report

Biden planning first major tax hike in almost 30 years: report | TheHill

Alternate headline:

Biden to Keep Promise of Repealing Unpopular Trump Tax Cuts

[larrymcg421]

How could it be the first major tax hike in 30 years when Obama raised taxes every day he was in office?

[miked]

Also, democrats were pretty quick to throw Franken under the bus without an investigation (which probably would have cleared him). He resigned before they could even do one.

[PilotMan]

Originally Posted by NobodyHere

Democrats are hypocrites.

Republicans are hypocrites.

Ok, your turn. We're even.

Let's see here's another.

"Evangelical" Conservative Christians are hypocrites.

There I feel better now. How about you?

[miami_fan]

Stimulus check 2021: Millions face tax refund delay as relief arrives

Just in case you are like me and was wondering why you have not received your tax refund as of yet.

[Brian Swartz]

Good info. I wasn't wondering, knew things like that we're going to happen. Weird for me as it's the first substantial refund I've had coming in many years, but fortunately I'm in an position where it's no big deal for me to wait for it.

[miami_fan]

Originally Posted by Brian Swartz

Good info. I wasn't wondering, knew things like that we're going to happen. Weird for me as it's the first substantial refund I've had coming in many years, but fortunately I'm in an position where it's no big deal for me to wait for it.

It had me questioning if I fat fingered my bank account info.