US Kudlow Projects Coronavirus Aid Package to Reach ‘Roughly’ $6 Trillion

Kudlow Projects Coronavirus Aid Package to Reach ‘Roughly’ $6 Trillion | National Review

White House economic adviser Larry Kudlow on Tuesday projected that the total economic stimulus to be enacted by the federal government will reach $6 trillion.

www.nationalreview.com

Coronavirus Relief: Aid Package to Reach 'Roughly' $6 Trillion | Nati…

archived 24 Mar 2020 23:32:43 UTC

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White House economic adviser Larry Kudlow on Tuesday projected that the total economic stimulus to be enacted by the federal government will reach $6 trillion.

Of the total, $4 trillion will come in the form of liquidity from the Federal Reserve, while the remaining $2 trillion will be part of proposed phase-three legislation from Congress. If the total assistance does reach $6 trillion, that would equal about 30 percent of U.S. GDP.


The phase-three legislation will be “the single largest Main Street assistance program in the history of the United States,” Kudlow said at a press conference Tuesday evening.

“We’re heading for a rough period, but it’s only going to be weeks, we think. Weeks [or] months, but it’s not going to be years, that’s for sure,” Kudlow added.

Lawmakers have not agreed on a final stimulus package as of Tuesday evening, despite optimism earlier in the day from Treasury Secretary Steve Mnuchin that a deal was within reach. Senate Democrats twice voted to deny cloture to debate the stimulus on the Senate floor, moves that received harsh criticism from Republicans.



Anticipation of a deal on the stimulus drove a stock market surge on Tuesday that saw the largest one-day gain for the Dow since 1933. Meanwhile, President Trump said he hoped the U.S. would be able to relax coronavirus containment measures by Easter (April 12).


“We’re opening up this incredible country. Because we have to do that. I’d love to have it open by Easter,” Trump said during a virtual Fox News town hall event.

Later on Tuesday, Dr. Anthony Fauci, head of the National Institute of Allergy and Infectious Diseases, said that while it might be possible to relax containment in some areas of the country, those decisions would be made according to data at the time.

“You can look at a date [to ease restrictions] but you’ve really got to be flexible,” Fauci told reporters.

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[Nacho Man Randy Salsa]

So what about the deficit?

 

[Socrates]

So what about the deficit?

I think you know the answer to that question.
"Fuck it, we'll all be dead before it becomes a real problem."

 

[funknuggets]

So what about the deficit?

we don't worry about that until the person sitting in the oval office is a democrat.

 

[melty]

Why is it only $6 trillion? Why not eleventy trillion, or a gazillion?

 

[Radical Cadre]

So what about the deficit?

When you owe the bank a million dollars, you've got a problem.

When you owe the bank a billion trillion dollars, the bank has a problem.

 

[Dom Cruise]

That's a lot of money!

 

[dopy]

So what about the deficit?

let's ask the experts:

 

[MelloYello]

Save the banks, goy!

seems american priorities haven't changed at all....

 

[The Saltening]

i hate bailouts! let companies fall! new companies will rise up later! maybe they will be worse, or better. nobody knows. but it isnt the governments job to keep your private business in business.

 

[DocHoliday1977]

i hate bailouts! let companies fall! new companies will rise up later! maybe they will be worse, or better. nobody knows. but it isnt the governments job to keep your private business in business.

It is when the government is telling you to close.

I can play jew real good too.

Save the banks, goy!

I american priorities haven't changed at all....

Oh, you liberal j.ews are so cute. But so wrong.

 

[Dom Cruise]

Show me da moneyyyyyyyyyyyyyyyy!

 

[The best and greatest]

i hate bailouts! let companies fall! new companies will rise up later! maybe they will be worse, or better. nobody knows. but it isnt the governments job to keep your private business in business.

On one hand Im totally with you on fuck faggoty yuppie CEOs and their bloated "Too big to fail" corporations.

On the other hand this idea is sort of non-conducive to bringing manufacturing back to America...

 

[OnMoTi]

The 4 trillion from the fed is a loan, as is most of the 2 trillion. Not sure why this would have an impact on the deficit, unless I'm missing something.

 

[pwnest injun]

Is the Federal Reserve finally going to outright buy the USA?

 

[DocHoliday1977]

@Trombonista
Block me from all forums and pages.
Even my own thread. Ban me and cross out my account, if you please.

That thread will go on but I won't post here ever again.

 

[Radical Cadre]

Another angle: better than spending it on a war. Right?

 

[TaimuRadiu]

Trump's Chosen sure like that number 6, don't they...

 

[kūhaku]

And to think people thought this would be around an okay amount to spend every month of every year for however long Yang was in office

Money printer go brrrrr

 

[Nephi]

Fiscal conservatives have been saying year after year that America cannot afford single-payer healthcare like us Europeans, probably makes sense, since we don't have niggers here. But if the government had invested more money in healthcare, then there wouldn't be a need to subside the economy this much and coronavirus would be less of an issue for Americans, their economy and their health.
Anyway, at the end of the day it's not for me to say, as I'm not American, and, in that regard, my opinion is not as relevant as the one of Americans within voting age, within reason those are the ones that must decide what's better for them.
But I love seeing the circus that is Americans politics turns into now and then, and especially love seeing how the ancaps get mad because of measures that the Chads at the FED adopt. American politics are very interesting and entertaining.