Home Stimulus Updates “IT’S NOT GONNA HAPPEN” (Kudlow)

“IT’S NOT GONNA HAPPEN” (Kudlow)

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“IT’S NOT GONNA HAPPEN” (Kudlow)

This is my stimulus update for Thursday, October 29.

Stimulus news today is that Nancy Pelosi sent a letter to Steven Mnuchin, public letter, and apparently according to Larry Kudlow, left-leaning news outlet Politico somehow got their hands on this letter before the White House did, we’ll talk about Kudlow in a bit, but this letter is basically Pelosi crapping all over Mnuchin and publicly in written form putting all the blame on the Trump administration and basically saying the ball is in Mnuchin’s court so do something.

Don’t want to read? Watch the video here!

Probably some truth to this, I must say, but cynically speaking, this definitely marks a change in Pelosi’s tone from what we’ve heard previously when she was talking about being optimistic, hopeful, optimistic, so the tone of this letter is markedly different, and the timing of course five days before the presidential election, it’s interesting to say the least.

So what’s Nancy flaming Steve for?  Well, for starters, you’ll recall that a couple weeks ago or so Mnuchin said that he would accept Democrats’ language for a national COVID-19 testing program and other COVID-19-related measures, so that week Mnuchin and Pelosi went back and forth, apparently made some agreements, but in this letter Pelosi is saying, “We still have not received a final answer on new compromise language regarding whether the [Trump] Administration will agree to the national, science-based strategy for testing, tracing, and treatment that is needed to crush the virus, as well as language on vaccines, the provider fund and ACA coverage for unemployed workers.”

And that’s not all.  She also lists six other stimulus measures, all of which we have discussed previously here on the channel, as areas where apparently Pelosi and the Democrats are still waiting for a response from the White House.  Those six areas are state and local, school reopening, child care, tax credits, unemployment, and liability protection.  Then on the second page she blasts McConnell as well, saying that Trump will need to convince him to take his hand off the pause button.  And of course she brings up the election as well, the “millions of Americans [that] have been waiting in line for hours to vote,” implying, “Shame on you, White House, for not wanting to provide the necessary funding for elections during the pandemic.”

Now, White House Economic Advisor and perennial stimulus check hater Larry Kudlow was on Fox News this morning sharing his two cents on this letter, here’s the clip.

Kudlow was that Pelosi has no intention of compromising on key issues, will hold up key assistance, and is stringing Republicans along and that this letter is bad form.  He claims that Democrats show no willingness to compromise.  And he basically blames Pelosi and the Democrats for why “it’s not gonna happen,” his words.

But keep in mind that this is just Kudlow’s highly-partisan perspective here and especially as someone who already believes that the economy is in a V-shaped recovery, and earlier in this segment on Fox News they were talking about the Q3 GDP data today, with GDP increasing in Q3 at a 33.1% annualized rate, and he was like, yup, that’s the V-shaped recovery I’m talking about.

But what about a little thing called COVID-19 case increases and potential lockdowns?  And you gotta remember, this record increase in Q3 is a lot of it resulting from a record decrease in Q2, if you saw my video on Q2 GDP you know what I mean.

And this is with virus cases surging, yesterday White House officials said there would not be lockdowns in the U.S. as various European nations are currently implementing, though Dr. Fauci was on CNBC yesterday implying that he is supportive of state and local mask mandates and perhaps hinting at a nationwide mask mandate, which would make some people go insane.

Pelosi’s leaked letter, Kudlow saying stimulus ain’t happening because Democrats are intransigent, that’s where we are at two days before Halloween, five days before the election, a stimulus deal is not close, don’t believe the hype, there’s no “FINALLY!”, I told you yesterday that Mitch McConnell thought that Pelosi and Mnuchin were never even close to a deal, and he was right, sadly, he was right.

5 comments

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