This is my stimulus update for Monday, August 10.
Now, I’ve been talking about Trump’s memoranda and executive order all this past week, I’m going to share some more thoughts at the end but first let’s talk about this.
Trump’s Tweet This Morning
This morning Trump tweeted, “So now Schumer and Pelosi want to make a deal. Amazing how it all works, isn’t it? Where have they been for the last four weeks when they were ‘hardliners’ and only wanted bailout money for Democrat-run states and cities that are failing badly? They know my phone number!”
Now, I haven’t heard any more of this. I’ve seen reports that anonymous Democratic aides have denied that Pelosi and Schumer have had any contact with the White House since the stimulus talks failed on Friday.
And I saw Chuck Schumer this morning on MSNBC saying that he’s waiting for the Republicans to come back and say yes.
And of course on CNBC this morning, Mnuchin accused the Democrats of being the bad guys here, saying that Republicans are not the one holding up a stimulus bill.
Mnuchin said agreement was reached on things like stimulus checks.
He said that he thinks if a targeted PPP bill, Paycheck Protection Program bill, were put before Congress that it would pass.
So Mnuchin sounded somewhat hopeful, we know that from what Pelosi and Schumer have said so far, they would reject a piecemeal bill, but like I always say anything can happen.
Mnuchin has tried to paint state and local aid, which Trump has repeatedly called bailout money for mismanaged states, as well as unemployment as the only two issues of contention during the stimulus negotiation, while Democrats claimed that the differences went beyond that.
So this is basically the exact same thing that they’ve said the past two weeks while they were negotiating.
Look, I want just as much as you do a true stimulus relief bill, with stimulus checks to pass Congress and be signed by the President. But that’s not that’s not what’s on the table right now.
Can Trump Sign an Executive Order for Stimulus Checks?
Now, many of you have asked me if Trump could simply sign an executive order for stimulus checks.
No. He can’t.
The president through an executive order cannot spend money that Congress has not appropriated.
This is why his executive order on unemployment that actually spends federal money is on shaky authority. And moreover, if the next stimulus check is going to be a CARES Act-type stimulus based on your tax return, Trump can’t just create another tax credit via executive order because remember the CARES Act stimulus check was technically an advance payment of a 2020 tax credit, and Congress, not the President, has the power to tax.
Is another true stimulus bill still on the table? Not at this time. Could it be in the future? Sure, Congress is on recess until September, could be called back, but unless there is a top-down deal having been negotiated, which was attempted and did not happen over the past couple weeks, they’re not coming back.
September Appropriations Bills
Now, as I’ve said, we know in September that Congress will be working on the fiscal year 2021 appropriations bills before the end of the government’s fiscal year on September 30, the accounting period for the federal government begins on October 1 and ends on September 30, and when Congress gets back from their August recess, they start working on the next fiscal year’s appropriations bill.
Unless talks pick up again some time in August, the September fiscal year appropriations bill would probably the next shot at seeing another round of stimulus checks included.
However, my fear is that if Trump is able to pull off, say, the unemployment memorandum, and if the August jobs report which will be released the first week of September, looks good, that could incentive Republicans in Congress to say forget it, we don’t need more stimulus.
I’m not one to bust out the calendar and do all that and tell you when you “might expect your stimulus check” because I know how this works, I know anything can happen or not happen.
I refrained from predicting that you will get your second stimulus check in August because I know the game.
Challenges to Trump’s Executive Actions
Now, Trump’s executive actions, three memoranda and one executive order.
So we’ve talked about how Trump’s executive actions will inevitably face many, many challenges. Challenges from states, challenges from Democrats calling them absurd, challenges from businesses very suspicious about Trump’s desired payroll tax deferral.
I told you that as a business owner with employees myself, I’m not so sure about this about this payroll tax deferral, I think it could open up my business to potential liability, despite what the memorandum says, it could open up my employees to a surprise tax bill next year, and Trump says he wants to forgive these amounts, but like I said in my video yesterday, he can’t do that via executive order, and I doubt Congress would go along with any legislation to that effect that could have a harmful effect on Social Security.
This is just one example of the many challenges Trump will face with these memorandum as well as the executive order, which I am in the whole calling his executive actions.
So you all remember Peter Navarro, right? Trump’s trade and manufacturing guy that basically distracted us with a claim that Trump wants $2 trillion in another stimulus relief bill? Well, he was on NBC News yesterday, unsurprisingly, defending President Trump’s executive actions, saying, “The Lord and the Founding Fathers created executive orders because of partisan bickering and divided government.”
That may be so, Peter, but an executive order cannot spend money that Congress has not appropriated, hence why Trump’s presidential actions are fraught with difficulties.
Will States Be Able to Swing the $100/Weekly?
And with respect to the memorandum for $400 weekly unemployment, many states have now signalled that they’re not sure if they will be able to afford the $100 kick-in weekly.
Ohio Republican Governor Mike DeWine was asked on CNN if Ohio could afford the $100 kick-in, and the governor replied, “The answer is, I don’t know yet.”
Many states, as I’ve said before here on the channel, are broke, but yet there is that Coronavirus Relief Fund that was instituted by the CARES Act that the memorandum specifically says that states should tap into.
On Twitter, New York Democratic Governor Andrew Cuomo tweeted, “Executive orders can’t replace legislative actions. States can’t pay 25% of unemployment costs. It’s simply impossible.”
Now, the way I read Trump’s memorandum on unemployment, a close reading would indicate that a state would have to be on board with the $100 state kick-in in order for the feds to kick in $300.
However, Secretary of the Treasury Steven Mnuchin claimed yesterday that “the 25 percent ($100) from the states — they can either take that out of the money we’ve already given them or the president can waive that.”
So Mnuchin was essentially stating that the President could choose to waive the requirement that the state kick in $100, and the Feds could still kick in the $300. I do not see that in the memorandum, but perhaps Mnuchin is speaking to the president’s intent rather than simply the cold language of the memorandum, but of course I would like to see that in writing somewhere.
There is also confusion not only among people like you and me when the extra unemployment might be paid, I told you that even assuming that Trump’s memorandum on unemployment is able to survive all the challenges that it will inevitably face, it could be a while before the $400 weekly is actually paid.
Mnuchin, on the one hand, claims that the money could be paid pretty much immediately, states are ready to go.
But yesterday on CNN White House Economic Advisor Larry Kudlow said that the payments could take weeks to be enacted.
I personally believe that Kudlow is closer to the right answer here than Mnuchin, but here’s my take: nobody knows except each individual state A) if they will roll this out and B) if they will roll it out, when they plan to roll it out.
Also remember that you’d have to already be receiving at least $100 in unemployment from your state for a given week, and that’s before the $100 or $300 kick-in, but includes things like the PUA, but you’d have to be receiving at least $100 in unemployment, normal benefits in a given week including the PUA to even be eligible for the plus-up.
What I’m Looking For This Week
This week I’m looking for two things, one, the state of Trump’s executive actions, looking for the challenges and pitfalls, I’ve already covered a lot of them, and two, I’m looking for signs that negotiations could resume, I’m not optimistic about that, but that’s what I’m looking for.
I wanted to thank you for this great read!! I definitely enjoying every little bit of it I have you bookmarked to check out new stuff you post…
DentiCore is a gum health support formula designed to help users remove dental health problems like bad breath, cavities, tooth decay, etc.
A person essentially help to make seriously posts I would state. This is the very first time I frequented your website page and thus far? I surprised with the research you made to create this particular publish incredible. Great job!
LeanBiome is a probiotic dietary supplement that’s packed with lean bacteria species that help support healthy weight loss.
Undeniably believe that which you stated. Your favorite justification seemed to be on the web the easiest thing to be aware of. I say to you, I definitely get annoyed while people think about worries that they just don’t know about. You managed to hit the nail upon the top and also defined out the whole thing without having side-effects , people can take a signal. Will likely be back to get more. Thanks
Rikvip Club: Trung Tâm Giải Trí Trực Tuyến Hàng Đầu tại Việt Nam
Rikvip Club là một trong những nền tảng giải trí trực tuyến hàng đầu tại Việt Nam, cung cấp một loạt các trò chơi hấp dẫn và dịch vụ cho người dùng. Cho dù bạn là người dùng iPhone hay Android, Rikvip Club đều có một cái gì đó dành cho mọi người. Với sứ mạng và mục tiêu rõ ràng, Rikvip Club luôn cố gắng cung cấp những sản phẩm và dịch vụ tốt nhất cho khách hàng, tạo ra một trải nghiệm tiện lợi và thú vị cho người chơi.
Sứ Mạng và Mục Tiêu của Rikvip
Từ khi bắt đầu hoạt động, Rikvip Club đã có một kế hoạch kinh doanh rõ ràng, luôn nỗ lực để cung cấp cho khách hàng những sản phẩm và dịch vụ tốt nhất và tạo điều kiện thuận lợi nhất cho người chơi truy cập. Nhóm quản lý của Rikvip Club có những mục tiêu và ước muốn quyết liệt để biến Rikvip Club thành trung tâm giải trí hàng đầu trong lĩnh vực game đổi thưởng trực tuyến tại Việt Nam và trên toàn cầu.
Trải Nghiệm Live Casino
Rikvip Club không chỉ nổi bật với sự đa dạng của các trò chơi đổi thưởng mà còn với các phòng trò chơi casino trực tuyến thu hút tất cả người chơi. Môi trường này cam kết mang lại trải nghiệm chuyên nghiệp với tính xanh chín và sự uy tín không thể nghi ngờ. Đây là một sân chơi lý tưởng cho những người yêu thích thách thức bản thân và muốn tận hưởng niềm vui của chiến thắng. Với các sảnh cược phổ biến như Roulette, Sic Bo, Dragon Tiger, người chơi sẽ trải nghiệm những cảm xúc độc đáo và đặc biệt khi tham gia vào casino trực tuyến.
Phương Thức Thanh Toán Tiện Lợi
Rikvip Club đã được trang bị những công nghệ thanh toán tiên tiến ngay từ đầu, mang lại sự thuận tiện và linh hoạt cho người chơi trong việc sử dụng hệ thống thanh toán hàng ngày. Hơn nữa, Rikvip Club còn tích hợp nhiều phương thức giao dịch khác nhau để đáp ứng nhu cầu đa dạng của người chơi: Chuyển khoản Ngân hàng, Thẻ cào, Ví điện tử…
Kết Luận
Tóm lại, Rikvip Club không chỉ là một nền tảng trò chơi, mà còn là một cộng đồng nơi người chơi có thể tụ tập để tận hưởng niềm vui của trò chơi và cảm giác hồi hộp khi chiến thắng. Với cam kết cung cấp những sản phẩm và dịch vụ tốt nhất, Rikvip Club chắc chắn là điểm đến lý tưởng cho những người yêu thích trò chơi trực tuyến tại Việt Nam và cả thế giới.
Some genuinely nice and utilitarian information on this website, too I conceive the design has got superb features.
Wow! This could be one particular of the most beneficial blogs We have ever arrive across on this subject. Actually Excellent. I am also a specialist in this topic therefore I can understand your effort.
Superb post however , I was wanting to know if you could write a litte more on this subject? I’d be very grateful if you could elaborate a little bit more. Cheers!
I have been browsing on-line greater than three hours as of late, yet I never found any fascinating article like yours. It is pretty price enough for me. In my view, if all webmasters and bloggers made excellent content material as you did, the web will be a lot more useful than ever before.
Whats up very nice blog!! Man .. Beautiful .. Superb .. I’ll bookmark your web site and take the feeds alsoKI am satisfied to seek out so many useful information right here in the put up, we want develop extra techniques on this regard, thank you for sharing. . . . . .
As soon as I detected this website I went on reddit to share some of the love with them.
I precisely wanted to appreciate you once again. I do not know the things I might have followed without these basics documented by you over this subject. It truly was a real daunting setting in my position, but considering the well-written avenue you treated the issue forced me to jump with gladness. I am just happy for the support as well as wish you are aware of an amazing job you were carrying out training the rest through the use of your webblog. More than likely you have never come across any of us.
Some genuinely interesting info , well written and loosely user pleasant.
What i do not understood is in truth how you are not actually much more neatly-appreciated than you might be now. You are very intelligent. You recognize thus considerably on the subject of this topic, produced me individually imagine it from so many varied angles. Its like women and men are not interested unless it?¦s one thing to accomplish with Woman gaga! Your personal stuffs nice. Always handle it up!
I simply couldn’t leave your website before suggesting that I actually enjoyed the usual information an individual provide on your guests? Is going to be back steadily in order to check up on new posts
What Is Sugar Defender? Sugar Defender is made of natural plant-based ingredients and minerals that support healthy blood sugar levels.
Hello.This post was really fascinating, especially because I was searching for thoughts on this issue last couple of days.
I haven’t checked in here for a while since I thought it was getting boring, but the last several posts are great quality so I guess I will add you back to my daily bloglist. You deserve it my friend 🙂
After study a couple of of the blog posts in your website now, and I really like your way of blogging. I bookmarked it to my bookmark web site list and will probably be checking back soon. Pls try my site as effectively and let me know what you think.
Hi there! Would you mind if I share your blog with my myspace group? There’s a lot of folks that I think would really enjoy your content. Please let me know. Cheers
Appreciate it for this fantastic post, I am glad I observed this web site on yahoo.
Its like you read my mind! You seem to know a lot about this, like you wrote the book in it or something. I think that you can do with a few pics to drive the message home a bit, but other than that, this is magnificent blog. A fantastic read. I’ll definitely be back.
F*ckin’ tremendous issues here. I am very glad to see your article. Thanks a lot and i am looking forward to touch you. Will you kindly drop me a e-mail?
Wow! Thank you! I always needed to write on my site something like that. Can I include a part of your post to my blog?
Merely a smiling visitor here to share the love (:, btw outstanding style.
Terrific work! This is the type of info that should be shared around the web. Shame on Google for not positioning this post higher! Come on over and visit my website . Thanks =)
I like the valuable info you provide in your articles. I will bookmark your blog and check again here frequently. I’m quite certain I’ll learn a lot of new stuff right here! Best of luck for the next!
I think that is one of the most significant information for me. And i am glad reading your article. However should observation on some general things, The site taste is ideal, the articles is in reality great : D. Excellent job, cheers
What i do not understood is in reality how you’re now not actually a lot more well-appreciated than you might be right now. You’re very intelligent. You recognize thus significantly in the case of this matter, made me in my view believe it from a lot of varied angles. Its like women and men are not involved until it’s something to do with Girl gaga! Your individual stuffs great. At all times take care of it up!
I truly treasure your piece of work, Great post.
Have you ever thought about adding a little bit more than just your articles? I mean, what you say is important and all. But imagine if you added some great pictures or videos to give your posts more, “pop”! Your content is excellent but with pics and videos, this blog could certainly be one of the most beneficial in its niche. Superb blog!
An attention-grabbing discussion is value comment. I believe that it is best to write extra on this subject, it won’t be a taboo subject but typically people are not sufficient to speak on such topics. To the next. Cheers
Enjoyed reading this, very good stuff, thankyou.
Reading your article helped me a lot and I agree with you. But I still have some doubts, can you clarify for me? I’ll keep an eye out for your answers.
I am delighted that I detected this web site, exactly the right information that I was searching for! .
I was reading through some of your content on this internet site and I conceive this web site is real instructive! Continue posting.
obviously like your web site but you have to test the spelling on several of your posts. Several of them are rife with spelling issues and I find it very bothersome to tell the reality nevertheless I?¦ll surely come again again.
Hey very nice blog!! Man .. Beautiful .. Amazing .. I will bookmark your site and take the feeds also…I’m happy to find numerous useful info here in the post, we need develop more strategies in this regard, thanks for sharing. . . . . .
Thank you a bunch for sharing this with all folks you really recognize what you are talking approximately! Bookmarked. Please also discuss with my web site =). We could have a link trade contract between us!
Very nice info and right to the point. I am not sure if this is truly the best place to ask but do you folks have any thoughts on where to get some professional writers? Thank you 🙂
Thank you a lot for sharing this with all of us you really understand what you are speaking about! Bookmarked. Kindly additionally seek advice from my web site =). We could have a hyperlink exchange contract between us!
An impressive share, I just given this onto a colleague who was doing a little analysis on this. And he in fact bought me breakfast because I found it for him.. smile. So let me reword that: Thnx for the treat! But yeah Thnkx for spending the time to discuss this, I feel strongly about it and love reading more on this topic. If possible, as you become expertise, would you mind updating your blog with more details? It is highly helpful for me. Big thumb up for this blog post!
I enjoy reading through a post that will make men and women think. Also, many thanks for allowing me to comment!|
Thanx for the effort, keep up the good work Great work, I am going to start a small Blog Engine course work using your site I hope you enjoy blogging with the popular BlogEngine.net.Thethoughts you express are really awesome. Hope you will right some more posts.
It¦s actually a nice and helpful piece of info. I am satisfied that you simply shared this useful information with us. Please stay us informed like this. Thanks for sharing.
Hi would you mind letting me know which web host you’re utilizing? I’ve loaded your blog in 3 different web browsers and I must say this blog loads a lot faster then most. Can you recommend a good internet hosting provider at a honest price? Cheers, I appreciate it!
Hello, i think that i saw you visited my weblog thus i came to “return the favor”.I am trying to find things to enhance my site!I suppose its ok to use some of your ideas!!
That is very interesting, You’re a very skilled blogger. I have joined your feed and stay up for in search of more of your great post. Additionally, I have shared your site in my social networks!
I think this is one of the most significant info for me. And i am glad reading your article. But wanna remark on some general things, The website style is great, the articles is really great : D. Good job, cheers
Hey There. I found your blog using msn. This is an extremely well written article. I will be sure to bookmark it and return to read more of your useful info. Thanks for the post. I’ll certainly return.
Howdy! I know this is kind of off topic but I was wondering if you knew where I could get a captcha plugin for my comment form? I’m using the same blog platform as yours and I’m having problems finding one? Thanks a lot!
I think this is one of the most significant information for me. And i am glad reading your article. But want to remark on some general things, The site style is perfect, the articles is really excellent : D. Good job, cheers
Very nice layout and fantastic articles, very little else we need : D.
Great blog! I am loving it!! Will come back again. I am taking your feeds also.
Enjoyed studying this, very good stuff, thankyou.
I would like to thnkx for the efforts you have put in writing this website. I am hoping the same high-grade website post from you in the upcoming also. Actually your creative writing abilities has encouraged me to get my own website now. Really the blogging is spreading its wings rapidly. Your write up is a good example of it.
I truly appreciate this post. I?¦ve been looking everywhere for this! Thank goodness I found it on Bing. You’ve made my day! Thx again
so much superb info on here, : D.
Rattling informative and excellent anatomical structure of subject material, now that’s user genial (:.
You made a number of good points there. I did a search on the subject matter and found the majority of people will agree with your blog.
I’d forever want to be update on new blog posts on this website , saved to my bookmarks! .
After study a few of the blog posts on your website now, and I truly like your way of blogging. I bookmarked it to my bookmark website list and will be checking back soon. Pls check out my web site as well and let me know what you think.
Youre so cool! I dont suppose Ive learn something like this before. So good to seek out someone with some original ideas on this subject. realy thank you for beginning this up. this website is something that’s wanted on the web, someone with a bit originality. useful job for bringing something new to the web!