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Keyword: bailout

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  • YRC Gives Government 30% Stake In Latest Bailout (for $700 million loan)

    07/01/2020 12:39:44 PM PDT · by Perseverando · 11 replies
    Yahoo Finance ^ | July 1, 2020 | Benzinga
    YRC Worldwide (NASDAQ: YRCW) unveiled plans of a new $700 million lending agreement with the U.S. Department of the Treasury, which in turn will receive a stake of nearly 30% in the company. The July 1 press release outlines the latest lifeline for the less-than-truckload (LTL) carrier. The loan comes from a federal lending program under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which is intended to help businesses survive the economic downturn caused by COVID-19 and maintain employment for their workers. The lending agreement will allow YRC to repay recently deferred health and welfare and pension...
  • Higher Taxes, Layoffs, And Service Cuts: The State And City Budget Crisis Is Here

    06/30/2020 9:56:59 AM PDT · by 11th_VA · 21 replies
    Forbes ^ | Jun 30, 2020,11:53am EDT | Richard McGahey
    The recession is hitting state and city budgets hard in the new fiscal year that starts on July 1. They are responding by firing workers, reducing services, and even increasing taxes. Massive federal aid is the only real solution. The new fiscal year for 46 states and many cities begins on Wednesday. And a flood of red ink caused by the deep pandemic recession is forcing them to fire workers, reduce spending and services, and even raise taxes (one of the worst things you can do in a recession). Without Congress providing up to $1 trillion in federal aid, non-federal...
  • Pritzker signs pandemic budget that relies on federal bailout that's not a guarantee, approves Medicaid for undocumented seniors

    06/13/2020 6:51:25 PM PDT · by 11th_VA · 21 replies
    Mdjon Online ^ | June 10, 2020
    Gov. J.B. Pritzker signed the budget that begins July 1. The spending plan relies on billions of dollars in federal aid that haven’t materialized, keeps spending level from the current year despite revenue losses and cost increases from the COVID-19 pandemic and gives Medicaid access to seniors who are undocumented residents. In a statement, the governor also urged the federal government to pass a funding plan to give state and local governments billions of dollars in an effort to cover parts of the state’s $42.9 billion spending plan...
  • Mayor Frey Asks Trump for Help After Minneapolis Rioters Cause Millions in Damage (wants federal aid)

    06/07/2020 12:39:34 AM PDT · by knighthawk · 87 replies
    Breitbart ^ | June 06 2020 | AMY FURR
    Mayor Jacob Frey (D) is seeking federal aid to help Minneapolis recover from the protests and riots that have wrecked the area. “With at least $55 million in estimated damage and far more to come, Minneapolis will need state and federal aid as it attempts to rebuild hundreds of structures after the riots following George Floyd’s death,” Frey explained on Thursday, according to the Star Tribune. The report continued: City officials are still putting together a complete tally of the destruction and cautioned that estimates are likely to rise significantly. Gov. Tim Walz and members of Minnesota’s congressional delegation are...
  • Canadian Rap Star Drake Donates $100,000 to National Bail Out Fund

    06/02/2020 12:56:16 PM PDT · by knighthawk · 21 replies
    Breitbart ^ | June 02 2020 | BEN KEW
    Canadian rap superstar Drake donated $100,000 to the National Bail Out fund on Monday, which seeks to help pay the bonds of people arrested across America as protests in response to the death of George Floyd in police custody have devolved into riots and mass looting.
  • California Tried to Bail Out Illegal Aliens - and It’s a Disaster

    05/30/2020 7:55:08 AM PDT · by artichokegrower · 25 replies
    Front Page Magazine ^ | Fri May 29, 2020 | Daniel Greenfield
    The Golden State is showing its brass with more unemployed people than the entire population of Alabama. So, California’s leaders decided that this was an urgent time to bail out illegal aliens. California’s illegal alien population is its shadow economy and with many of the industries that employ them shut down, the Democrats who depend on ghost districts populated by illegals decided that something had to be urgently done to keep the illegal aliens from fleeing back across the border.
  • States Want Coronavirus Aid to Pay for Years of Fiscal Mismanagement, Not Coronavirus Fight

    05/29/2020 3:51:26 AM PDT · by Kaslin · 2 replies
    Townhall.com ^ | May 29, 2020 | Kay Coles James
    At a time when huge spending bills marked “coronavirus relief” are easily passing Congress with little scrutiny, poorly run states are asking unscrupulous members of Congress to slip in taxpayer bailouts to rescue them from years of their own fiscal mismanagement. In response, the House of Representatives recently passed a coronavirus relief bill that includes a half trillion dollars (trillion with a “t”) in unrestricted funds to bail out state governments for years of reckless expenditures entirely unrelated to the pandemic. I have the same reaction to these proposals that I had when I worked in government and people were...
  • Government tells Planned Parenthood to return $80 million it stole from COVID-19 relief

    05/28/2020 4:13:19 PM PDT · by Morgana · 10 replies
    Live Action News ^ | May 20, 2020 | Laura Nicole |
    According to a Fox News report, $80 million in stimulus funds intended to help small businesses struggling through coronavirus economic hardship have gone instead to Planned Parenthood, the multi-billion dollar abortion business. Under the CARES Act’s Paycheck Protection Program (PPP), Congress allocated $349 billion in federal funds to provide assistance to small businesses with fewer than 500 employees. According to the Department of the Treasury, funds may be used to pay up to eight weeks of payroll costs including benefits” as well as “interest on mortgages, rent, and utilities.” In August 2019, Planned Parenthood rejected Title X federal funding after...
  • Gov's Toilet Scam Contractor Got $9 Million Coronavirus Contract

    05/28/2020 5:45:46 AM PDT · by PBRCat · 2 replies
    The Patch ^ | May 27,2020 | Mark Konkol
    CHICAGO — A detail tucked in a Fox 32 investigative report about Illinois contractors trekking across the border to build a new mansion at Gov. J.B. Pritzker's Wisconsin horse farm raised the eyebrow of somebody who knows how deals get done in America's most corrupt state. The contractor doing construction on J.B. Pritzker's Wisconsin horse farm won a $9 million coronavirus contract that was part of the state's pandemic response. The "dwelling contractor" listed on Wisconsin building permits, Bulley & Andrews, is the same company caught up in the alleged "scheme to defraud" Cook County taxpayers by removing toilets from...
  • The Road To Hell Is Paved With…Free Utilities?

    05/28/2020 4:56:52 AM PDT · by Kaslin · 7 replies
    Townhall.com ^ | May 28, 2020 | Derek Hunter
    “The road to Hell is paved with good intentions.” That saying holds true more now than ever. But in the rush to “do something,” what the government does – in response to the global pandemic – actually matters. In the last few months, Washington has spent at least $5 trillion trying to mitigate the economic damage done by lockdowns and stay-at-home orders. And that’s not counting the cash the Federal Reserve is setting on fire daily. It’s easy to sneak favors into massive omnibus spending bills, so it’s Christmas in spring right now. The Kennedy Center gets a truckload of...
  • Blue States Will See Economic Ruin In Cities Like Chicago, New York, and Los Angeles, These Cities May Start To Look Like Venezuela

    05/27/2020 3:03:06 PM PDT · by Enlightened1 · 67 replies
    CNS News ^ | 05/26/20 | Stephen Moore
    Blue States Will see economic ruin in Cities like Chicago, New York, and Los Angeles, these cities may start to look like Caracas, Venezuela in the weeks ahead. America is starting to reopen for business across the country — except for a handful of states where lockdown orders are expected to remain in place for weeks to come. With very few exceptions, the cities and states that have ordered their businesses to remain comatose and their millions of workers to go without paychecks are blue, blue, blue. This list includes New York, New Jersey, Michigan, Pennsylvania, Illinois, California, and Oregon....
  • Newsom Threatens to Fire First-Responders [semi-satire]

    05/26/2020 10:20:31 AM PDT · by John Semmens · 7 replies
    Semi-News/Semi-Satire ^ | 24 May 2020 | John Semmens
    California Gov. Gavin Newsom (D) says "the federal government has an ethical obligation to bail out my state. Admittedly, we might have been excessively generous in how we spent taxpayers' money. Perhaps this was a mistake. However, there is no need to make the people of California suffer for the miscues of their government. The federal government has an unconstrained power to create money. Failure to use this power to rescue California from bankruptcy would be a crime against humanity." Among the "miscues" are $1 trillion in unfunded pension liabilities, 15,000 hotel rooms leased to house the homeless along with...
  • After Fully Privatizing It, German government offers Lufthansa $10 billion bailout to rescue the country’s largest airline from economic devastation wrought by Coronavirus

    05/26/2020 8:29:04 AM PDT · by SeekAndFind · 2 replies
    Freight Waves ^ | 05/26/2020 | Eric Kulisch
    After fully privatizing Deutsche Lufthansa AG a quarter-century ago, the German government will become a minority owner in an effort to rescue the country’s largest airline from economic devastation wrought by coronavirus travel restrictions. The airline group, which includes Lufthansa Airlines, SWISS International Air Lines and Austrian Airlines, agreed Monday to a 9 billion euro ($9.8 billion) bailout package in which the federal government will receive a 20% stake in the company in return for two board seats and veto power over any hostile takeover bid. Lufthansa agreed to limit dividends and management pay. The government will also give Lufthansa...
  • Newsom says federal government has 'ethical obligation' to send states funding amid coronavirus

    05/19/2020 11:26:55 PM PDT · by RomanSoldier19 · 43 replies
    https://thehill.com ^ | 05/17/20 09:59 AM EDT | BY REBECCA KLAR -
    California Governor Gavin Newsom weighed in on the question of bailing out states whose budgets have been blown up by the coronavirus pandemic. Newsom told CNN’s “State of the Union” that a state bailout was not “charity” and that Congress has a “moral and ethical obligation” to help Americans across the country. The House passed a $3 trillion coronavirus relief bill last week which contained almost a trillion dollars to bail out states. It also contained goodies for all — another stimulus check, help for renters, college debt relief, and cash for illegal immigrants. Fox News: “Not to act now...
  • Infographic: Here’s How $2.3 Trillion Was Distributed As Congress Considers Another $3 Trillion

    05/19/2020 5:59:03 PM PDT · by wrrock · 20 replies
    toptradeguru ^ | 5/19/2020 | Evan
    Congress is considering a $3 trillion stimulus package. HERE is an infographic of how the first $2.3 trillion was distributed. See Infographic...
  • White House Promises to Veto Pelosi’s ‘Wish List’ – House Speaker Folds

    05/16/2020 10:21:33 AM PDT · by yoe · 74 replies
    National Insiders ^ | National Insiders Staff
    Americans had a collective fit when they learned about Nancy Pelosi’s insane new “relief” bill. The massive spending package would cost us $3 trillion dollars. All of it would go to Democrat “wish lists.” Immediately, the White House promised they would never sign such a bill. Now, Pelosi is backtracking. You have to give it to Nancy Pelosi. The old gal doesn’t give two rats asses about America. When Congress was trying to pass funding to save small businesses, she held it up… twice. Then, she closed the House, preventing lawmakers from continuing to provide solutions during the crisis. Meanwhile,...
  • House passes $3T coronavirus relief -- the most expensive bill in history

    05/16/2020 12:06:43 AM PDT · by knighthawk · 47 replies
    Fox News ^ | May 15 2020 | Marisa Schultz
    The House of Representatives on Friday evening passed a $3 trillion coronavirus relief bill, the most expensive legislation approved by that body in history, that Democrats hailed as the unprecedented response needed to deal with the pandemic and its economic fallout. The record-breaking bill narrowly passed by a 208-199 vote. Fourteen Democrats defied their party and voted "no," while one Republican, Rep. Pete King of New York, broke with the GOP and voted “yes.” “I’m thrilled," House Speaker Nancy Pelosi said after the bill's passage. "I'm so proud of my members. They just did something so monumental for the American...
  • Nancy Pelosi Declares War On The American People In Her Latest Bogus ‘Rescue Package’

    05/15/2020 8:22:00 AM PDT · by Kaslin · 14 replies
    The Federalist ^ | May 15, 2020 | Sen Marsha Blackburn
    By their own standards, the House Democrats’ Round 4 “rescue package” is a flop. House Speaker Nancy Pelosi set herself up to fail by instructing her caucus and surrogates to insist that Congress prioritize testing, testing, and more testing in future rounds of coronavirus response funding. At the end of the day, Democrats scrounged up a budget for those tests amounting to less than 1 percent of the $3 trillion package Pelosi introduced this week. Instead of putting their money where their mouth is, they slapped together a leftist wish list dedicated to causes unrelated to the pandemic. It is...
  • Rep. Thomas Massie (R-KY) on $3 trillion House coronavirus relief Bill

    05/15/2020 9:59:20 AM PDT · by RandFan · 8 replies
    Twitter ^ | 15th May 2020 | Jennifer Franco
    "Pelosi's making us come back to vote on a pretend bill that's dead on arrival in the Senate...I think we should attack the virus, not the taxpayer." Click excerpt link for Video!
  • Sen. Bill Cassidy trashes Pelosi's new $3T spending proposal: It 'doesn't pass the laugh test'

    05/14/2020 11:00:55 PM PDT · by knighthawk · 6 replies
    Fox News ^ | May 14 2020 | Julia Musto
    Democratic House Speaker Nancy Pelosi's new $3 trillion coronavirus spending proposal is politically motivated "garbage" that "doesn't pass the laugh test," Sen. Bill Cassidy argued Wednesday. Appearing on "America's Newsroom" with host Ed Henry, Cassidy, R-La., said Pelosi tried to get away with more liberal additions to the bill once again, but this time it's hidden in the fine print. "Clearly she went to her committee chairs and she said give me that which you think maybe we can get in here – a starting point for negotiations so we’ll look reasonable when we retreat from it," he explained. "On...