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Date Posted: Friday, December16, 02:43:pm
Author: t4y
Subject: Re: Newburgh opens mobile homeless shelters
In reply to: Lurker 's message, "Newburgh opens mobile homeless shelters" on Friday, December16, 07:01:am

Correct Lurker. I think the issue is another signal the economic downturn is escalating (the county is also doubling its heating assistance program). This "free" ride initiative is an extension of an already mostly subsidized Transit system via county, state and fed funds. Remember, NYS is running a deficit, as is the U.S., so funding social programs that support their citizens require governments to issue debt obligations. As inflation at the consumer level goes up, the governments will have to issue more and larger debt obligations to fund the social programs. The fed rationale for higher interest rates is that an economic slowdown is necessary to "tame inflation". So, deficit spending is at an increasing borrowing cost...requiring more deficit spending to service the increasing debt...essentially fueling the inflation it claims to "tame". See the issue?
fwiw, I commented on a recent thread how the rosy labor stats being reported were bs. fyi, as per the Federal Reserve Bank of Philadelphia release 12/13/22...
"In the aggregate, 10,500 net new jobs were added during the period rather than the 1,121,500 jobs estimated by the sum of the states;"
https://www.philadelphiafed.org/-/media/frbp/assets/surveys-and-data/benchmark-revisions/early-benchmark-2022-q2-report.pdf

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