Wilbur Ross: Furloughed workers should take out loans

[GM Team Member and Senator WB]

https://www.cnn.com/2019/01/24/business/wilbur-ross-loans-food-assistance-government-shutdown/index.html

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[Santander]

Reptile.

[GeorgiaModerate]

For all their populist rhetoric, this administration simply does not care about ordinary people.  This isn't new.

[Former Dean Phillips Supporters for Haley (I guess???!?) 👁️]

And Wilbur is going to cover the interest, right?

[Pyro]

In other words, 'Let Them Eat Cake'

[The Dowager Mod]

Out of touch billionaire doesn't understand the working class! film at 11.

[ProudModerate2]

But I thought trump hired the best people?
This entire administration is a disaster!

[DINGO Joe]

Wilbur had done a very good job of keeping a low profile in the clown house, but i guess he had to get out of the car sooner or later.

[Xing]

In other words, 'Let Them Eat Cake'

[Esteemed Jimmy]

In other words, 'Let Them Eat Cake'

[Politician]

In other words, 'Let Them Eat Cake'

[KaiserDave]

Out of touch, the WH truly is a retreat for Wall Street at this moment.

[pbrower2a]

Compel people to work, but pay them in credit, only to 'settle' as the boss sees fit.

That's how debt-bondage worked in Ku Kluxistan.

[Santander]

Also, apparently Republicans have so embraced the concept of corporate personhood that they find it hard to understand why natural persons don't behave like corporations.

[True Federalist (진정한 연방 주의자)]

At least he's not berating them for not following the standard financial planning recommendation that people shouldn't live paycheck to paycheck but keep at least a three-month reserve in ready cash.

[GeorgiaModerate]

At least he's not berating them for not following the standard financial planning recommendation that people shouldn't live paycheck to paycheck but keep at least a three-month reserve in ready cash.

I wonder how many people actually have that kind of reserve. 

[DINGO Joe]

At least he's not berating them for not following the standard financial planning recommendation that people shouldn't live paycheck to paycheck but keep at least a three-month reserve in ready cash.

I wonder how many people actually have that kind of reserve. 

In 2015 it was 22% of the public

https://www.cnbc.com/2015/06/23/how-much-should-you-actually-save-for-emergencies.html

I do, but I'm older with few demands on my resources

[GeorgiaModerate]

https://twitter.com/paulkrugman/status/1088454258154827776

[DrScholl]

But this is the administration that is supposed to be down to earth and connected to people, right?

[Okay, maybe Mike Johnson is a competent parliamentarian.]

This administration and its enablers are vampires, but what else is new?

[Orthogonian Society Treasurer]

They should learn how to code.

[Big Abraham]

Well good thing Mr Ross won't have to do that. Gotta make sure our investment bankers are taken care of!

[True Federalist (진정한 연방 주의자)]

At least he's not berating them for not following the standard financial planning recommendation that people shouldn't live paycheck to paycheck but keep at least a three-month reserve in ready cash.

I wonder how many people actually have that kind of reserve. 

In 2015 it was 22% of the public

https://www.cnbc.com/2015/06/23/how-much-should-you-actually-save-for-emergencies.html

I do, but I'm older with few demands on my resources

37% actually. 22% was those having the even better six-month reserve.

[Badger]

And Wilbur is going to cover the interest, right?

Especially considering that many working class and pink collar workers are going to have to resort to payday loans stores which are little more than legalized loan sharking.

[True Federalist (진정한 연방 주의자)]

And Wilbur is going to cover the interest, right?

Especially considering that many working class and pink collar workers are going to have to resort to payday loans stores which are little more than legalized loan sharking.

Only if better choices for getting loans from are stupid and don't want to loan to them. Granted, it won't fit the traditional credit model, but considering that government employees (but not contractors) have already been guaranteed to get back pay even if furloughed instead of working without pay, this would be a low risk loan unless it's a person who's already ruined their credit before the shutdown. Still ridiculous that they'd have to pay interest, but only those already having to resort to payday loans should have to go there now if they're a government employee.