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Boeing CEO Rejects Nationalization of Company While Begging for Taxpayer Bailout

They want cash without oversight.

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The CEO of the Boeing Company is rebuffing the premise of granting the federal government an ownership stake in his company, while asking for a taxpayer-funded bailout.

David Calhoun rejected any consideration of the company’s nationalization during an interview with FOX Business’ Maria Bartiromo.

I don’t have a need for an equity stake,” said the aircraft manufacturer’s CEO. ““I want them to support the credit markets, provide liquidity. Allow us to borrow against our future, which we all believe in very strongly and I think our creditors will too. It’s really that simple.”

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Calhoun suggested that Boeing would altogether reject the premise of government aid if the federal government insisted on handing over an equity stake in the company.

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The company only suspended a luxury stock buyback program intended to enrich its shareholders just last year. The Chinese coronavirus isn’t the only factor harming the company’s business prospects, with crashes of the Boeing 737 harming the firm’s image and forcing the resignation of its previous CEO. If anything, a federal share in the company could actually prove to provide the oversight that it sorely needs.

It’s somewhat confusing that a company which already garnishes 31% of its total revenue from the U.S. government is so vehemently opposed to allowing the taxpayer a share in the company in return for the short-term funds the company claims it needs to survive.

If receiving taxpayer aid isn’t worth the additional scrutiny of federal ownership for Boeing’s executives, the company should be allowed to walk on their way. That is, if their planned refusal of the bailout only proves to be a mere bluff, which they’re ready to forsake as they humbly beg for the bailout they seek, under the federal government’s conditions.

Big League Economics

SHAME: Democrats Are Blocking Stimulus Legislation That Includes Second $1,200 TrumpBux Check

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Democrats in Congress are blocking a bipartisan $1.5 trillion stimulus package that includes a second round of $1,200 TrumpBux payments to Americans.

Leading House Democrats are saying the bill isn’t big enough of a giveaway, but they favor stimulus measures that would divert funds away from the pockets of everyday Americans to institutions. They want to bail out Democrat state and local governments, and are willing to block TrumpBux payments to Americans if they aren’t allowed to.

The House passed a $3.4 trillion stimulus package in May that was shot down by Senate Republicans. The latest $1.4 stimulus legislation has been presented as a compromise, after House Democrats in turn rejected a thin $500 billion stimulus package proposed by Republicans last week. That package did not include a second round of $1,200 payments, and Republicans are now willing to sign off on another TrumpBux payment in order to pass another round of stimulus.

The $1.5 trillion stimulus legislation emerged from the Problem Solvers Caucus, a group of 25 Republicans and 25 Democrats who emphasize bipartisanship and common ground. Aside from TrumpBux 2, it features $500 billion for cities and states, unemployment insurance of $600 a week, increased SNAP benefits and rental assistance.

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Steny Hoyer and Nancy Pelosi are claiming the legislation doesn’t go far enough and that it “leaves too many needs unmet.”

Pelosi and House Democrats are insisting that Congress will remain in session until a second stimulus agreement is met, but in rejecting the Problem Solvers Caucus legislation they’re already shown they’re not open to a generous compromise.

Try asking everyday working Americans of all stripes and walks of life if they’re willing to wait or even go without a second $1,200 stimulus payment in order to provide a bigger bailout to states and cities that already engage in questionable budgetary practices to begin with. The Democrats are resolutely determined to avoid making people the priority in  a stimulus package, and will block stimulus legislation to do so.

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