WHITE HOUSE: RECOVERY DOES NOT HINGE ON SECOND STIMULUS, FOCUS SHIFTING TOWARDS AVOIDING A SHUTDOWN Recovery description:
Dr. Chhoda analyzes some key comments from White House senior economic advisor Larry Kudlow as the focus of the administration shifts away from stimulus, towards a continuing resolution (CR) to fund the government past the September 30 fiscal deadline.
TABLE OF CONTENTS
0:00 The chances of having another stimulus are getting smaller each day
2:58 What happens next after the failure of the skinny bill?
4:42 Larry Kudlow talks about the possibility of the next stimulus
7:28 Kudlow identifies the key strengths of the skinny bill and outlines the priorities of the Republicans
10:27 Kudlow states that the economy is recovering strong | V-shape recovery
KEY COMMENTS FROM LARRY KUDLOW: THE FOCUS WILL BE ON THE CONTINUING RESOLUTION, THE RECOVERY DOES NOT HINGE ON THIS BILL
There’s going to be something of a shift right now to a continuing resolution to keep the government open. Secretary Mnuchin, Speaker Pelosi agree it should be a clean C.R.
So my suspicion is that’s going to be the next order of business, although insofar as another cares bill and so forth, there’ll be discussions if people want to discuss. I don’t expect anything dramatic in the near term.
DISAGREEMENTS ARE ABOUT SIZE AND SCOPE, THIS SHOULD BE ABOUT KIDS AND JOBS
The disagreements here are about the size and scope. You know, a third of that Democratic package had nothing to do with the pandemic, for example. That’s not right. There’s no reason why we couldn’t have agreed to five or six key things. And I will say the liability restrictions you mentioned is really essential. The small business help is really essential and the kids going back to school assistance is really essential. Kids and jobs. What’s wrong with that?
BUSINESSES ARE REOPENING, ECONOMY IS MOVING FORWARD, SEPTEMBER JOBS REPORT WILL BE EXCELLENT
You’re all looking at very strong V shape, recovery type numbers. The great news here is that businesses are reopening and the economy is moving forward at a rapid clip, probably better than folks thought. So that’s really the great news that’s going to continue. I mean, people say the jobs improvement is over. I completely disagree. If you look at initial unemployment claims or continuing claims versus a month ago, they’re way, way better. So I see no reason why September’s jobs report won’t be an excellent number.
I know this isn’t over and I know there’s still hardships out there, but I hope and pray these trends continue because American economy is very durable and the underpinnings on low taxes and regulations are very helpful to future growth.
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✅ ✅ ✅ References ✅ ✅ ✅
Kudlow: I don’t think economic recovery hinges on new stimulus bill
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WHITE HOUSE: RECOVERY DOES NOT HINGE ON SECOND STIMULUS, FOCUS SHIFTING TOWARDS AVOIDING A SHUTDOWN Recovery Comments :