Posted by economy on May 18, 2020 at 17:18:00:
In Reply to: Re: national debt posted by red debt redemption on May 18, 2020 at 00:31:30:
: : : : I just talked with a former player of mine who now works in Gov Newsome's office he said Newsome is going to ask for 10% pay cut for state workers due to less sales tax revenue due to Covid-19 shutdown and along with that they expect many colleges to reduce or drop athletic scholarships. Cal States are already closed , online onlyfor fall so no surprise there but UCs haven't declared.
: : : : He said he doesn't expect college or high school BB to go on in the fall or spring due to the contact, fans or no fans due to liability. He acknowledged that Covid-19 has little to no impact on teenagers (I challenged him by bringing up that no one under the age of 14 worldwide has died of Covid-19) but he pointed out the concern they could spread it to seniors. As if that wasn't bad enough he said some colleges, due to reduced revenue may be forced to drop programs all together.
: : : : I don't believe any of this has been confirmed so just put it down under rumors. I do know only a maybe a hundred of D1 schools are actually profitable when it comes to most sports, that's why CSULB dropped football long ago, so there maybe something there. Time will tell.
: : : Newsome and other Dems are trying to sabotage the economy and are using the virus as the vehicle. If the private sector and Republican National Leadership can't be trusted to manage the economy as well as public health during a pandemic then big government Dem/Socialism must be the answer. I have know issue with anyone with well founded conservative or liberal beliefs. Most common sense folks I have met buy into ideas from both of those ideologies. The fact that there is zero evidence of socialism ever being a viable methodology to run a country doesn't matter to elites like Newsome who will not be affected by the policies he and his cohorts demand the public abide by. If you think sitting back and taking the government cheese is a good idea you had better have some squirrel DNA & save up. Gov cheese can't last forever without a thriving economy. Our lenders are going to come calling and won't bail us out again when our currency has no value.
: : I tend to agree with you, and what is not being said in the news is that China owns most of our debt-roll out another 3 trillion in debt and China literally owns us. Not a good thing . I do hope sports come back early but not looking good for anyone owning a club organization.
: China may be the second leading holder of US debt internationally but only holds 5% of the total national debt. $1.1 out of $22 trillion. China actually can't hold any more of our debt per an agreement, and Japan has overtaken them as of last month, at $1.2 trillion.
It's amazing how much money the u.s government borrows from China and Japan but its more amazing on the economic and military assistance that the u.s provides to other countries that runs in the billions. Man the Governor has not ruined the economy but China sure has by sending us covid 19 .
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