So after Trump saw the stock market’s reaction to his unpopular decision to abandon stimulus negotiations and concentrate instead on confirming Amy Covid Barrett, he began walking it back. First we saw this:
The House & Senate should IMMEDIATELY Approve 25 Billion Dollars for Airline Payroll Support, & 135 Billion Dollars for Paycheck Protection Program for Small Business. Both of these will be fully paid for with unused funds from the Cares Act. Have this money. I will sign now!
— Donald J. Trump (@realDonaldTrump) October 7, 2020
Don’t blink or you might miss it.
The basic dynamics in the negotiations haven’t changed. A hard-core group of extremist Republican senators have suddenly been infected with pre-election deficit fever, and McConnell would rather help them get reelected. Plus, he doesn’t want Democrats to get any credit before the election.
Trump, on the other hand, desperately needs a win.
Federal Reserve Chairman Jerome Powell warned of potentially tragic economic consequences that could result if Congress and the White House don’t provide additional support to households and businesses disrupted by the coronavirus p https://t.co/mVdVxgB9i1 pic.twitter.com/iBgp0Yd3yY
— Scot L. Stark (@ScotLStark) October 9, 2020
It’s really disgusting that the economic fate of so many people, through no fault of their own, is in the hands of elected GOPers who care much more about themselves.