Mnuchin in Middle East, Kudlow Being Irrelevant (Again)
This is my stimulus update for Saturday, October 17.
In terms of Mnuchin and Pelosi talks, the flavor of the week is the language surrounding a national strategic COVID-19 testing strategy, Pelosi was on MSNBC yesterday implying that she’s concerned that the language will basically create various “slush funds” rather than providing a prescription for what we need to stop the spread of COVID-19.
Don’t want to read? Watch the video here!
Mnuchin is traveling to the Middle East today as part of a delegation to discuss economic cooperation between Israel, Bahrain, and United Arab Emirates and will return on Tuesday, so at first blush it’s like, oh crap, what about stimulus, but remember, he and Pelosi haven’t been really meeting in person anyway, they’ve been having phone calls, and reportedly Mnuchin and Pelosi will again today over the phone continue the conversation surrounding stimulus.
I assume this means that Pelosi has received Mnuchin’s testing language and they will discuss that. But on the other hand, clearly, there are other pressing matters on Mnuchin’s plate right now with the election a mere seventeen days away.
Larry Kudlow was on Stuart Varney yesterday being once again irrelevant, just listen to this.
What a creative spin on record unemployment. I mean, really. Really.
What was that phrase he used, the gales of creative destruction? I mean, how out of touch can this man be? He hates stimulus, and he sees in the wake of record unemployment the “gales of creative destruction.”
I get it, maybe that’s true for a few people, but in order to start a business, you need to be able to be in a position to fund that business, whatever that means, whether that’s a few hundred bucks for equipment or additional equipment or whatever, and not only have the money to fund it but also to be in a position where if it doesn’t work out, you’ll be OK, you have to be able to take a risk, but for many people right now they are not in such a position, they can’t even make their rent, or their kids are still at home and the cost of childcare would outweigh the economics of trying to start a business, this is just Kudlow once again being completely irrelevant to the vast majority of the millions of unemployed Americans right now.
Kudlow also said that with just over two weeks before the election he think it will be difficult to actually get a big stimulus bill done, but he brought up the unused three hundred billion dollars in CARES Act money and said that he would like to see it be used for unemployment, PPP for small businesses, and airline relief. Now, this is something I could get on board with, but the concerning thing to me is that this money is something that Trump said on September 4 that he wanted to use for stimulus checks, but Kudlow didn’t mention stimulus checks.
Kudlow did echo the President’s claim that the White House eagerly wants a stimulus deal and that if Nancy Pelosi wanted a deal that they could round up enough Senate Republicans to get a deal.
If you’ve been watching the channel, you know what McConnell has said in recent days about what he thinks his members will go for.
Speaking of the Senate, Judge Amy Coney Barrett’s hearings before the Senate Judiciary Committee wrapped up this week. And they were an absolute snoozefest.
Even Democratic Senator Dianne Feinstein hugged Republican Senator Lindsey Graham, who’s the chair of the committee, after the hearings concluded and she thanked him saying these were some of the best hearings she has participated in, and Feinstein has been in the Senate since 1992, so, you know. But these hearings, they didn’t rally the base, they were pretty plain vanilla.
So if McConnell was hoping for these hearings to get out the Republican vote, he might have another think coming, so maybe that’s why he’s putting forth this skinny bill next week and even, appearing by his statement recently, to put it ahead in priority before the Judge Barrett vote, not that a 500 billion dollar bill will do anything other than being a talking about two weeks before the election.
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