Commerce Sec says unpaid fed workers should just get loans

[wvjohn]

from Bloomberg.


U.S. Commerce Secretary Wilbur Ross expressed bewilderment over unpaid federal workers who are seeking charity to feed themselves, saying they should be able to borrow money during the government shutdown.

“I don’t really quite understand why,” Ross told CNBC in an interview on Thursday in response to reports that some federal workers are going to homeless shelters to get food. “Borrowing from a bank or a credit union are in effect federally guaranteed. So the 30 days of pay that some people will be out, there’s no real reason why they shouldn’t be able to get a loan,” he said.

The longest shutdown in U.S. history entered its 34th day on Thursday, affecting some 800,000. Pressure is building on President Donald Trump and both parties in Congress to resolve the dispute, as the furloughed workers will miss their second paychecks on Friday.

The remarks by Ross, a wealthy former private-equity investor, were swiftly rebuked by Democrats for failing to understand how many ordinary Americans get by.

House Speaker Nancy Pelosi said in a tweet that “this just goes to show how out of touch Trump, his cabinet and Republicans in Washington are. They just don’t understand what it means to live paycheck to paycheck.”


Nancy Pelosi
✔
@TeamPelosi
Because the current occupant of the White House is holding them hostage, that's why. This just goes to show how out of touch Trump, his cabinet and Republicans in Washington are. They just don't understand what it means to live paycheck to paycheck. #TrumpShutdown

Niels Lesniewski
✔
@nielslesniewski
"I don't quite understand why" federal workers are needing to go to food banks, says Secretary Wilbur Ross on CNBC.


Whether in protest or out of necessity, a growing number of federal workers whose jobs have been deemed essential are calling in sick or claiming hardship exemptions. Lines at some airport-security checkpoints are growing as Transportation Security Administration employees, who are working without pay, call in ill.

Read More: Federal Workers Calling in Sick Spotlights Limits on Job Actions

White House Council of Economic Advisers Chairman Kevin Hassett said Wednesday that if the shutdown extends through March, there’s a chance of zero economic expansion this quarter.

Ross brushed the argument aside that such workers cannot make ends meet without finding other work, arguing that while people might have to pay a little bit of interest to borrow, “there really is not a good excuse why there really should be a liquidity crisis.”

[FlyingPenguin]

It gets better. He also said this in the same interview:

Ross also said the economic ramifications of the shutdown -- the fact that 800,000 workers are not getting paid -- is barely a blip on the U.S. economy's radar. Hypothetically if the workers never got their back pay, "you're talking about a third of a percent on our GDP. so it's not like it's a gigantic number overall."

[Err]

I was just about to start a thread about this: https://www.cnn.com/2019/01/24/business ... urce=twCNN

Ross, who made his fortune buying distressed debt, noted that banks and credit unions have been extending zero-interest loans and other help to customers.
"The banks and the credit unions should be making credit available to them. When you think about it, these are basically government-guaranteed loans because the government has committed these folks will get their back pay once this whole thing gets settled down," Ross said in the interview.

"So there really is not a good excuse why there really should be a liquidity crisis," Ross said. "Now, true that people might have to pay a little bit of interest, but the idea that it's paycheck or zero is not a really valid idea."

What a vile piece of garbage this "man" is. The last time I checked, you can't get a loan without collateral. The MFer is worth ~700 million by the way.

[reno]

i love those politician they don't live pay check to pay check . most have income from there holdings and investments so there clueless of the true struggles the common working class blue collar worker faces !

[wvjohn]

I don't really live paycheck to paycheck , but you get into a way a paying bills at a certain time. I just found out today that my state pension check will now arrive around the 25th instead of the 15th. I guess they are hoping not to pay anyone who dies before the end of the month.

[Losbot]

Well, in all fairness the GOP House voted on a bill to pay the federal workers during the shutdown, even while we're closed for business but only 6 Dems voted for it.
Their hatred for Trump is, I think, clouding their better judgement. At least pay the people. This is ridiculous now.

[FlyingPenguin]

Actually the GOP SENATE wanted to pay JUST the Coast Guard, and dems voted it down.

But yeah, it looks bad to his base that "Military" aren't getting paid. I use air quotes because I used to be in the wavy navy myself. We weren't military (as they loved to constantly remind us) we were law enforcement. Only during war can CG assets be transferred to the Navy by a Presidential order. Back then we were under Dept of Transportation, but since 9-11 they're under DHS. They aren't paid through the DoD, they get paid as DHS law enforcement personnel - just like border security.

How'd you like to on the Border Patrol and find out the "Coasties" were getting paid by your department, but you aren't?

And IN ALL FAIRNESS House Dems passed a bill (several actually) to pay EVERYONE and the GOP Senate Leader refused to even consider them except for the one they finally allowed yesterday, which they voted down.

Trump could pay everyone tomorrow if he just signed one of the bills on the table. Sorry, but he took ownership of this. Remember he BOASTED that >HE< would be happy to close the government (you can still hear the groans of his PR people who were hoping to blame the Dems).

I'm not happy about this - I KNOW people personally who are between a rock and a hard place right now. But I agree with Pelosi (and you have no idea how much I hate to agree with her because I really never liked her) that to give in to Trump without getting more than he's offering - and to capitulate while under the gun - will encourage him to hold everyone hostage again every time he wants something.

LETS BE CLEAR HERE. Trump had 2 YEARS of a totally Republican controlled house and senate, with majorities, and could have had his wall money if he wanted it at ANY TIME. He had an offer for MORE than what he's asking for now at one point a year ago with the Dems blessing, in trade for a fairer way to handle DACA. But then the far right talked him out of it. Sorry HE BLEW IT. He doesn't know how to govern and it shows.

He makes a deal, then he watches Fox & Friends and changes his mind. It's like watching a cat chase a laser.

[Err]

[FlyingPenguin]

Aaaaaand... Like I said HE could have ended it anytime. And so he finally did.

Even more galling, if Trump had accepted this very same continuing resolution back in December, we'd be exactly where we are now - with the major difference that we wouldn't have destroyed the lives of 800k+ federal employees, an equal number of contractors (who won't get back pay), any number of small businesses that went under during this needless shutdown, and lost some highly skilled people who decided to quit and take a private sector job instead of dealing with this b*******.

Oh, and for those that enjoy watching Trump's teleprompter operator have a fit, check out his Rose Garden speech today when he goes off the rails about 8 mins into his speech and goes into his crazy duct-taped woman rant. You can tell he's off script because you can see the reflection of the teleprompter and it stopped moving.

http://littlegreenfootballs.com/article ... hite_House

[FlyingPenguin]

Well one good thing came out of this: Ann Coulter is having a bad day. Warms my cockles.

They say when Ann screeches, a demon loses his wings...

Oh, and Ann, I will freely admit Jimmy Carter was a wimp. But George H. W. Bush?

You know, normally I can't stand more than a few minutes of Twitter, but today it's so much fun.

[wvjohn]

It's not just fed employees. my neighbor temporarily relocated to the space coast last year because of a great job offer. After the feds (nasa, etc) shut down, he was basically furloughed for a time by his private employer.

And what FP said - Cheeto had 2 years with a full majority to do this if it was important to him.

Finally, if you look around thee are a bunch of pics of how the WH is photoshooping pics of the Cheeto showing him slimmer and with longer fingers. There was one site with before/after pics like you see from hurricanes but can't find it now. Crazy world we live in.

[Losbot]

I'm personally fine with more people in the private sector than the govt one. Govt is too damn big and it helps us to have more private sector employees than govt ones. Lots of depts have WAY MORE people than they need. I'm in favor of smaller govt. We need the tax revenue from private sector, not more govt employees.

Bob, you're a business owner, same as my family. If a 1-2 month shutdown puts you out of business, then you were managing your business as bad as living paycheck to paycheck. That's just bad money management. Might sounds harsh but there's always going to be times when shit happens.

Also, there was practically no way Republicans were going to get things done those first 2 years when you need 60 votes, you have only 52 Republicans in the Senate and a bunch of Democrats that were not going to vote in favor of anything Trump wanted. He could get a couple but not 8 Dems to vote his way on everything. Same reason Obama got nothing done either. Same reason we'll still see nothing get done now.