So just moments ago, Donald Trump signed an executive order to significantly increase deregulation in order to increase job growth, we haven’t seen this executive order yet, but I’m going to show you his remarks and how he describes the executive order later in this video.
But before we get into that, I want to show you something that’s a bit comical, and I think some folks might take this out of context, but you can be the judge, it’s about the prepaid debit cards and stimulus and Trump getting his name on more dead trees, here you go.
[30:34]
Now, before we get into the funny bit, notice what Mnuchin said at the end there, “Going forward, we think debit cards are a safe and secure way of delivering refunds.”
So some have speculated that maybe these debit cards are paving the way for UBI, $2,000 a month, but just taking the Secretary at his word here, he said it’s a safe and secure way of delivering refunds, so we might see in the future, next tax filing season or maybe even this one because lots of people are delaying it, the ability to get your refund on this debit card.
[31:32]
So we have Mnuchin talking about the stimulus payments and presenting the President with one of the EIP Cards, the stimulus debit cards that I told you about this morning, and Trump’s name is apparently on these cards, and Trump is thrilled, and then he asks, “Do I sign the letter again?”
What can I say, the man loves his Trump letters.
And then Mnuchin kind of gives this chuckle and he says, “The next time we send money, you’ll get to send another letter.”
Now, I wouldn’t read too much into this.
It just seemed to be some off the cuff kind of fun interaction, but obviously Trump likes his name on things, and we saw that anonymous report last week that said the White House wouldn’t be opposed to another round of checks, I put a screenshot of the CNBC article about it in the channel community tab.
And if there’s another round of checks, if there is a “next time” to use Mnuchin’s words, Trump will get to put his name on a letter again, which might be good as people start thinking more about the elections.
But as I’ve said for weeks now, I could see the White House and Republicans potentially being open to one, maybe two additional rounds of stimulus, or zero, right, depending on how the reopening goes, however as I’ve also said for weeks, I do not see them partial to a plan that looks anything like universal basic income.
OK, let’s talk about what the point of this meeting was, other than for cabinet members to give updates and what not, and that was for Trump to sign this executive order on deregulation.
He complained that, “We build a car, and we have to go to 12 different countries to build a car, I want to build a car from one country.”
“To achieve this goal, we’ve slashed red tape and bureaucracy, especially when it comes to big things like a ventilator.”
“We’re fighting for the livelihood of American workers, we need to cut into all the red tape that stands in our way.”
“With millions of Americans forced out of work by the virus, it’s important to remove burdens that destroy American jobs.”
And then here’s what he says about the executive order itself:
[8:50]
So look, Trump is fixated on job growth, and again I haven’t seen the executive order, but it appears to give government agencies immense power to “waive, suspend, and eliminate unnecessary regulations that impede economic recovery.”
One example Trump gave in his remarks was the fact that some highways take 21 years to build because of all the regulations, look, I’m no transportation expert, but that sounds a little excessive.
But we know that some regulations exist for the public good and for public safety. I probably would take some solace in the fact that a federal bridge I’m on had to pass all kinds of safety regulations and what not, so you know, I don’t know what kind of regulations these agencies are going to “waive, suspend, and eliminate,” but clearly Trump’s main goal here is job growth and economic recovery.
And it appears that he’s willing to get rid of regulations in order to achieve that, which might boost the economy in the short-term, but I have to think that sometimes regulations are put in place for a reason, and sometimes a good reason, and I have to wonder what the long-term ramifications would be of sidestepping these regulations in order to achieve short-term growth.
But what can I say, the elections are in November, what does it matter to Trump if a bridge collapses twenty years from now because regulations were waived, suspended, and eliminated?
That’s probably a little extreme, I’m hoping that the individuals in charge of these decisions will use common sense and prudence and concern for the public good in the long-term and not just short-term “let’s get this done,” but who knows, right?
Anyway, just wanted to give you an update on that, if you like these updates, please be sure to like and subscribe and also check out the free stuff in the links below.
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