The Daily Parker

Politics, Weather, Photography, and the Dog

The longest night of 2020

If you live in the northern hemisphere, tonight will last longer than any of the 365 others in 2020. Sunsets have gotten later by a few seconds a day since the 8th, but sunrises have also gotten later and will continue to do so until just before perihelion on January 4th.

We're also only a month from Joe Biden's inauguration. Almost everyone in the Western world and quite a few outside it have felt more relaxed and less stressed in the last six weeks, and will feel even better once the STBXPOTUS loses his public-interest protections on Twitter.

Meanwhile, we've only got a few hours before the Federal Government shuts down, because Republicans in the US Senate didn't really care about Covid-19 relief until the January 5th runoff elections in Georgia got too tight for comfort. Help Doug Perdue, yes; help 30 million Americans, no. That's today's GOP. Even if we manage to get the bill through, the STBXPOTUS has lost all connection to reality and may not sign it.

The bill as it stands calls for about $900 billion in "stimulus," even though we can't actually spend money where we need to spend it to save our restaurants and restaurant workers. As economist Paul Krugman points out, giving people $600 or $1200 checks won't help; we need enhanced unemployment benefits, which puts the money in the most needful hands. He also asks, "why is there a limit on the amount of aid?" He explains:

Republicans appear willing to make a deal because they fear that complete stonewalling will hurt them in the Georgia Senate runoffs. But they are determined to keep the deal under a trillion dollars, hence the reported $900 billion price tag.

That trillion-dollar cap, however, makes no sense. The amount we spend on emergency relief should be determined by how much aid is needed, not by the sense that $1 trillion is a scary number.

For affordability isn’t a real issue right now. The U.S. government borrowed more than $3 trillion in the 2020 fiscal year; investors were happy to lend it that money, at remarkably low interest rates. In fact, the real interest rate on U.S. debt — the rate adjusted for inflation — has lately been consistently negative, which means that the additional debt won’t even create a major future burden.

And even economists who worry about deficits normally agree that it’s appropriate to run big deficits in the face of national emergencies. If a pandemic that is still keeping around 10 million workers unemployed isn’t an emergency, I don’t know what is.

So, yes, the longest night of the year might also see yet another Republican-sponsored government shutdown. But the longest night of the year means tomorrow night will be a few seconds shorter, and 9 nights later, 2020 will end.

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