Sears & Kmart are likely down to their last 24 hours

[WorldWatcher]

@Snow96

What funds does the president have exclusive control over that he could have used to bail them out?

Well there is the federal employee pay raise he canceled yesterday.

Does that free up funds?

.>>>>

[Snow96]

Farm subsidy came out of the farm bill area.

What money has he allocated for miners and factory workers? And what specific individual companies. I’m not aware of any? Please enlighten me.

And what department or agency would he draw funds from for a specific business?

[Snow96]

All depends on what congress has passed in the CR’s. But then agains, it would be savings in individual departmens/agencies. Those funds typically can only be spend in those agencies/departments. So what agency/department would have savings of several billion dollars that could legally be allocated to a single specific company?

[Samm]

@dantes

He could have bailed them out. Chose not too.

No he couldn’t. Only Congress could have done that.

[Samm]

@dantes

Another casualty of the government shutdown?

Not really. He managed to find clever ways to subsidize others. Turns out that cashiers aren’t as politically useful as farmers, miners and factory workers.

And what do you think he could have done to subsidize them?

[dantes]

Federal guaranteed loans.

[Samm]

@dantes

Federal guaranteed loans.

Nope, the President can’t do that either.

[dantes]

Sure he can.

[Samm]

@dantes

Sure he can.

No … he can’t.

[Snow96]

What federal loan guarantee program is there for a multi billion dollar loan?

And wouldn’t that need to be paid back, or would you want to make the loan on a company you know can’t make the payment?

[dantes]

Sure he can. Those are administered by the executive branch.

[dantes]

It’s a big government. He managed to find $12 billion tax dollars for farmers, didn’t he?

[Snow96]

In the farm related stuff yes. Now was it to one specific farm?

[dantes]

No, it was to many specific farms.

They’ve engineered subsidies and bailouts for many industries, have they not?

[Snow96]

Non that I’m aware of for a single, specific company

Kmart/sears corporation is NOT an industry is it?

[dantes]

Why does this distinction matter?

[Snow96]

Has there ever been a program that was designed for a single company?

All others have been for multiple companies in certain industries.

Why only one company that has been dying a slow and painfull death for years?

[dantes]

You could design it any way you want.

[Snow96]

The president can make up programs out of thin air instead of congress aproving them?

[dantes]

Yes. They did for farmers.