THANK YOU, SIR. ALL RIGHT, NOW A LOT OF THIS
HINGES ON AMERICANS GETTING
THOSE CHECKS SOONER THE BETTER.
NOW MANY, YOU MIGHT RECALL
YESTERDAY AT THIS TIME THERE WAS
CONCERN THERE WAS A SNAG HERE ON
THOSE UNEMPLOYMENT BENEFITS
WHICH BY SOME PEOPLE’S MATH SO
GENEROUS, EXTRA $600 A BEAK,
THEY MIGHT MAKE PEOPLE STAY ON
UNEMPLOYMENT AND SEEK AN
ALTERNATIVE PRIVATE SECTOR JOB.
STEVE MOORE JOINS US, FORMER
TRUMP ECONOMIC ADVISOR,
BEST-SELLING AUTHOR.
BEST-SELLING AUTHOR. THIS WAS PASSED UNANIMOUSLY
YESTERDAY BUT THAT IS A CONCERN,
IS IT NOT OR IS IT A WORRY
THAT’S BEEN OVERDONE?
>> IT IS A GIANT WORRY.
IT IS THE THING THAT IS KEEPING
ME UP AT NIGHT AMONG OTHER
THINGS RIGHT NOW, NEIL.
I THINK THAT, THIS BILL WHICH,
ON BALANCE IS CERTAINLY GOING TO
HELP PEOPLE -- BY THE WAY,
INCIDENTALLY, NEIL, CAN WE STOP
CALLING THIS IS A STIMULUS BILL?
THIS IS NOT A STIMULUS BILL.
IT IS AN AID BILL.
THERE IS NOTHING TO STIMULATE
THE ECONOMY.
THE ECONOMY. THERE IS NOTHING IN THE BILL
THAT WILL STIMULATE
PRODUCTIVITY.
PRODUCTIVITY. WE’LL ACTUALLY NEED A BILL TO DO
THAT.
THAT. THIS BILL SIMPLY PROVIDING AID
TO BUSINESSES AND WORKERS THAT
NEED IT TO GET THROUGH THE NEXT
COUPLE OF MONTHS.
NOW, ON THIS ISSUE OF THE FOUR
MONTHS OF UNEMPLOYMENT
INSURANCE, I THINK IT WAS A BIG,
BIG, BIG MISTAKE.
I WORRY BECAUSE, YOU AND I WANT
TO SEE A V-SHAPED RECOVERY, NOT
AN L-SHAPED RECOVERY.
HOPEFULLY WHEN WE’RE OUT OF THIS
IN A MONTH OR TWO, WE GET PEOPLE
BACK ON THE JOB, I THINK IT IS
GOING TO BE REALLY DIFFICULT TO
GET MILLIONS OF PEOPLE BACK ON
THE JOB IF YOU’RE PROVIDING THEM
100% OF THEIR PAYCHECK IF THEY
DON’T WORK.
DON’T WORK. ECONOMICS IS ALL ABOUT
INCENTIVES AS ARTHUR LAFFER
TAUGHT US.
TAUGHT US. IF YOU PAY PEOPLE NOT TO WORK,
THEY ARE NOT GOING TO WORK.
NEIL: YOU KNOW, I ALSO WONDER
TOO, EVERYONE NEEDS MONEY, NO
ONE WILL COMPLAIN ABOUT MONEY
COMING THEIR WAY, IF YOU’RE
STUCK IN YOUR HOMBURGS OF THE
VIRUS, THERE ARE NO STORES TO GO
GO TO BECAUSE OF THE VIRUS, WILL
PEOPLE SPEND THAT DOUGH RIGHT
AWAY?
AWAY? >> PEOPLE WILL NEED IT TO MAKE
THEIR MORTGAGE PAYMENTS, TO PAY
THEIR BILLS, THEIR UTILITY.
PEOPLE WILL NEED IT FOR THEIR
GROCERIES.
GROCERIES. LOOK I’M, NOT OPPOSED TO
PROVIDING SOME PEOPLE WITH, SOME
CASH HERE SO THEY CAN GET
THROUGH THIS TOUGH TIME.
WE DON’T WANT PEOPLE TO GO
HUNGRY, HOMELESS, NOT BEING ABLE
TO PAY THEIR BILLS.
SIMILARLY THE MOST POSITIVE
THING ABOUT THE BILL IS THOSE
LOANS TO THE SMALL BUSINESSES
BECAUSE, YOU KNOW, I’M ON THE
BOARD OF A SMALL BUSINESS.
IF WE DON’T GET THAT LOAN, WE’RE
OUT OF BUSINESS AND WE CLOSE UP,
WE HAVE TO SELL ALL OUR ASSETS
AT 10 CENTS ON THE DOLLAR.
SO THIS IS A WAY TO MAKE SURE,
LOOK, EVERY DECISION WE’RE
MAKING IN WASHINGTON NOW, SHOULD
BE HOW DO WE SET UP THIS ECONOMY
SO WE’LL SHOOT OUT OF THIS LIKE
A CANNONBALL AS SOON AS THE
ECONOMY OPENS UP?
AND THE PROBLEM I THINK, WITH
SOME OF THE THINKING IN
WASHINGTON IT DOESN’T MATTER HOW
MUCH, HOW MANY TRILLIONS OF
DOLLARS THE FED PUTS, INJECTS
INTO THE ECONOMY, DOESN’T MATTER
HOW MANY AID BILLS ARE PASSED,
NEIL, IF WE’RE NOT STARTING TO
PRODUCE THINGS AGAIN, WHAT ARE
PEOPLE GOING TO BUY?
PRODUCTION, THE ENTIRE ECONOMY
STARTS WITH PEOPLE PRODUCING
THINGS.
THINGS. THAT IS WHERE WE’VE SEEN, YOU
KNOW THE BREAKDOWN OBVIOUSLY.
THAT IS WHY I WASN’T SO
SURPRISED, NEIL.
SURPRISED, NEIL. I’M SURPRISED PEOPLE ARE
SURPRISED BY THE 3 MILLION
JOBLESS NUMBER.
JOBLESS NUMBER. WHEN YOU SHUT DOWN HALF THE
ECONOMY, YOU WILL GET A LOT OF
PEOPLE LINING UP FOR
UNEMPLOYMENT BENEFITS.
UNEMPLOYMENT BENEFITS. NEIL: LONGER THEY’RE SHELTERED
AT HOME, THE LONGER THIS COULD
BE A PROBLEM, RIGHT?
>> YOU BETTER BELIEVE IT.
I KNOW THE PRESIDENT, THIS I
KNOW IS CONTROVERSIAL BUT I
THINK THE PRESIDENT MADE A VERY
WISE DECISION, SHOOTING A LITTLE
BIT OF CONFIDENCE IN PEOPLE, A
LITTLE OPTIMISM THAT THERE IS A
LIGHT AT THE END OF THIS TUNNEL.
HOPEFULLY BY EASTER SUNDAY WE’LL
GET THINGS ON AT LEAST A ROLLING
BASIS, PEOPLE BACK ON THEIR
JOBS, BUSINESSES UP AND RUNNING.
BECAUSE WHAT MY WORRY IS, THE
CASCADING EFFECT OF HAVING THE
ECONOMY SHUT DOWN WEEK AFTER
WEEK.
WEEK. WHEN PEOPLE TALK ABOUT SEVEN OR
10 WEEKS OF A SHUTDOWN OR 12
WEEKS OR MORE, THEN YOU’RE NOT
TALKING ABOUT THREE MILLION
PEOPLE UNEMPLOYMENT INSURANCE,
YOU’RE TALKING ABOUT 30 MILLION
PEOPLE.
PEOPLE. THAT IS SCENARIO NONE OF US WANT
TO SEE.
TO SEE. NEIL: I HEAR YOU.
STEVE MOORE, THANK YOU VERY