Mitch McConnell and certain members of the GOP caucus are not doing Trump any favors when it comes to his re-election.
Mitch told Trump last night that he did not have the votes for a stimulus bill – it may be correct to blame Pelosi for wanting too much but the fact is America saw both parties rush to give trillions to Wall Street and trillions more in leverage (if needed) so not kicking down to the American people right before an election is a gift to the Dems – so Trump is making his move and telling them both to get to work.
We have to be mindful of deficits but both parties have been running them for so long stopping right now when people actually need it will not win you any votes. It is almost as if Mitch doesn’t care if Trump wins or loses?
Why can’t they make a deal like Wall Street got – leverage to take more in case of emergency, that doesn’t mean we spend it, it just means it is there if needed so we don’t have to do this again.
Trump is not waiting and is putting the pressure on Congress: “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,” he said.
“If I am sent a Stand Alone Bill for Stimulus Checks ($1,200), they will go out to our great people IMMEDIATELY. I am ready to sign right now. Are you listening Nancy? @MarkMeadows @senatemajldr @kevinomccarthy @SpeakerPelosi @SenSchumer,” he added.
From The Hill:
The messages come after stocks nosedived after Trump pulled the plug on talks for a broader stimulus agreement. All three major stock indexes lost solid gains from earlier in the day and fell into negative territory after the announcement.
The Dow Jones Industrial Average closed with a loss of 375 points, roughly 1.3 percent, the S&P 500 closed with a loss of 1.4 percent, and the Nasdaq composite closed down roughly 1.6 percent.
The airline industry also grumbled over the announcement as their stocks sharply dropped.
“We have to hold out that hope,” industry group Airlines for America CEO Nicholas Calio said in a statement on Tuesday. “Time already ran out for U.S. airlines and many of our employees, yet there is a glimmer of hope that our leaders in Washington will act and save these jobs before it’s too late to turn back the clock.”
“The past week has dealt a crushing blow to the American Airlines team and the aviation industry, and we were hopeful that overwhelming bipartisan support for the Payroll Support Program would result in immediate action to protect jobs and service to communities across the country. We will continue to make the case in Washington that action is needed to help workers across the country and lead America to the other side of this pandemic,” added a spokesperson for American Airlines.
The airline industry had pressed Congress and the White House to extend the airline Payroll Support Program (PSP), which allocated $25 billion in aid as part of the $2.2 trillion CARES Act passed in March.
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