MEANWHILE, PRESIDENT TRUMP
CONTINUES TO INSIST ANY NEW
CORONAVIRUS DEAL MUST ALSO COME
WITH A PAYROLL TAX CUT.
JOINING GING ME IS THE FORMER
TREASURY SECRETARY UNDER
PRESIDENT OBAMA, JACK LEW.
I WANT TO ASK YOU ABOUT THE FACT
THAT MITCH McCONNELL HAS SAID AT
LEAST 20 MEMBERS OF HIS CONGRESS
SAY ENOUGH IS ENOUGH.
WE HAVE DONE ENOUGH FOR PEOPLE.
WE HEARD THE TREASURY SECRETARY,
YOUR SUCCESSOR IN THE JOB,
SAYING THIS IS NOT APPROPRIATE
TO GIVE PEOPLE THIS MUCH MONEY
TO STAY HOME.
HOW DO YOU CHARACTERIZE THIS AS
SOMEONE WHO WAS AT THE HELM OF
THE TREASURY?
>> WELL, IT’S GOOD TO BE WITH
US, ALI.
I’M GLAD BY ALL REPORTS IT WAS A
GOOD MEETING YESTERDAY.
IT’S ABOUT TIME.
THE HOW DEMOCRATS PASSED A BILL
TWO AND A HALF MONTHS AGO.
THE SENATE HAS SLOW ROLLING IT,
ONLY TAKE IT UP AND NEVER
BRINGING IT TO A VOTE EVEN UNTIL
DAY.
TODAY WAY THE FIRST SERIOUS
DISCUSSION, EVEN THOUGH THE
UNEMPLOYMENT BENEFITS EXPIRED.
I HAVE TO TELL YOU, AS A
MACROECONOMIC MATTER, THE NEED
IS GREAT.
IT’S A CRISIS.
YOU DON’T HAVE TO TAKE MY WORD
FOR IT.
LOOK AT WHAT THE CHAIR OF THE
FED SAID STORKS HESS
PREDECESSORS, REPUBLICAN
ECONOMISTING LIKE GLEN HAD YOU
BEEN HARD.
THE HARVARD ECONOMIST MAKING THE
CASE WE NEED TO BALANCE THE
BUDGET.
THEY’RE ALL SAYING WE NEED TO DO
SOME LARGE IN ORDER TO HAVE THE
ECONOMY NOT GO INTO A NOSE DIVE.
YOU CAN GET INTO A DEBATE OF 1
TRILLION OR 3 TRILLION AND
FORGET IT’S ABOUT VALUES.
WHAT DO WE DO TO SOLVE A CRISIS?
YOU NEED TO DO THE THINGS TO
KEEP THE ECONOMY FROM COLLAPSING
AND KEEP FAMILIES FROM GOING
INTO REAL, REAL CRISIS.
YOU HAVE 7 MILLION CHILDREN
LIVING IN HOUSEHOLDS THAT ARE
BEHIND ON THE RENT.
BETWEEN 8 AND 15 MILLION
CHILDREN LIVING IN HOUSES THAT
DON’T HAVE ENOUGH FOOD TO PUT ON
THE TABLE.
WHAT IS THE SENATE DOING ABOUT
THIS?
CLOSE TO NOTHING.
THAT COSTS MONEY.
I WOULD ARGUMENT THAT EVERY
DOLLAR YOU PUT INTO THE
HOUSEHOLDS WILL GET SPENT AND
HELP STIMULATE THE ECONOMY.
I THINK BRINGING TO THE TABLE A
PROPOSAL TO INCREASE THE TAX
DEDUCTION OF BUSINESS LUNCHES,
AND DOING NOTHING TO PUT FOOD ON
THE TABLE FOR STARVING FAMILIES,
THAT’S A QUESTION OF VALUES,
THAT’S NOT A QUESTION OF MONEY.
IT’S UNACCEPTABLE IF THEY DON’T
DEAL WITH THE MOST VULNERABLE.
>>> YOU CAN ARGUE IT BOTH WAYS.
EVEN IF YOU LOOKED AT IT AS A
QUESTION OF MONEY, FOR THOSE
REPUBLICAN SENATORS WHO ARE
SAYING ENOUGH IS ENOUGH, WHEN
YOU LOOK BACK TO IT IS 2008-2009
RECESSION, THOSE PLACES WHERE WE
STRATEGY ECLY PUT MONEY INTO THE
STIMULUS, INTO THE BAILOUTS,
THEY ACTUALLY DO RETURN
PROPERLY.
TO YOUR POINT, WHEN SOMEONE IS
DESPERATE FOR MONEY, YOU PROVIDE
THAT MONEY, THEY SPEND ALL OF
IT.
IT ISN’T EXTRA MONEY FOR A GUY
LIKE ME OR SOMEONE LIKE YOU.
THIS IS MONEY THAT PEOPLE NEED
TO SPEND.
BETTER THAN 100% OF THAT MONEY
GETS SPENT.
YOUR ECONOMIC, IF THAT’S HOW
YOUR MIND WORKS, ALSO PUTS IT IN
THE RIGHT PLACE, BUT THE CONCEPT
OF THE SENATORS SAYING, ENOUGH
IS ENOUGH, WE HAVE SPEND ENOUGH
WHILE THERE ARE STARVING
CHILDREN IN AMERICA SEEMS TO BE
THE WRONG PLACE FOR US.
>> I TOTALLY AGREE, ALI.
TO COMPARE THIS TO THE FINANCIAL
CRISIS, ONE HAS TO REMEMBER THAT
NONE OF THE PEOPLE WE’RE TALKING
ABOUT HAVE ANYTHING TO DO WITH
CREATING THIS CRISIS.
THIS CRISIS IS DRIVEN BY A
HEALTH CRISIS, AND AN
INCOMPETENT RESPONSE BY OUR
GOVERNMENT, AND INCREDIBLE DIE
KNEEL TO DO WHAT IT TAKES TO
MAKE IT SAFE AND FOR CHILDREN TO
GO BACK TO SCHOOL AND PEOPLE TO
GO BACK TO WORK.
WE NEED TO DEAL WITH THAT IN
ORDER TO GET OUT OF THIS
ECONOMIC CRISIS.
LET’S ALSO REMEMBER THAT WHEN
THE HEALTH CRISIS PASSES, THIS
IS A BIG HOLE IN THE ECONOMY.
IT WOULD HAVE A LINGERING
IMPACT, PEOPLE WILL NEED THINGS
LIKE UNEMPLOYMENT INSURANCE
UNTIL JOBS ARE BACK.
THE IDEA OF PEOPLE CHOOSING NOT
TO WORK IS LUDICROUS.
YOU CAN FIND A STORY HERE OR
THERE, BUT $200 IS GROSSLY
INADEQUATE.
IT WILL LEAVE FAMILIES WITHOUT
ENOUGH MONEY TO FEED THEIR RENT